Are you a doctor or nurse working in a rural or remote area of Canada? You may be eligible for significant student loan forgiveness through the federal government’s program.
This initiative aims to address the shortage of healthcare professionals in underserved communities by providing financial relief to those who choose to practice in these regions.
This blog post will guide you through the application process for Canada student loan forgiveness for rural doctors and nurses.
We’ll cover the eligibility criteria, required documents, and step-by-step instructions to ensure a smooth and successful application.
Who is eligible?
The program is open to licensed practical nurses, registered nurses, and medical doctors who agree to work full-time for at least four years in a designated rural or remote community.
You can apply for loan forgiveness while you are in study. You can also apply if you are in repayment or in your 6 month non-repayment period.
To be eligible for Canada Student Loan forgiveness you must:
- have started your employment as a medical professional (full-time, part-time or casual) in an eligible community, on or after July 1, 2011
- have been employed for a full year and provided in-person services for a minimum of 400 hours in an eligible community (does not apply to residents in family medicine)
- have a Canada Student Loan that is in good standing
Note: If you are repaying your loan, you must continue to make your regular monthly payments.
Eligible medical professionals
- family doctor
- family medicine resident in training with an accredited medical school in Canada
- registered nurse
- registered psychiatric nurse
- registered practical nurse
- licensed practical nurse, or
- nurse practitioner
Eligible under-served rural or remote communities
An under-served rural or remote community is one located outside of:
- metropolitan areas
- areas with an urban core population of 50 000 or more, and
- provincial capitals
Verify if a community is designated by using our postal code lookup tool.
How much loan forgiveness is available?
The program offers loan forgiveness of up to $60,000 for doctors and $30,000 for nurses.
The amount of forgiveness you receive will be based on the number of years you work in a designated community. For example, if you work for four years, you will receive the full amount of forgiveness.
If you work for three years, you will receive 75% forgiveness, and so on.
How to apply
Once you have completed a year of service in an eligible community, you have 90 days to apply for loan forgiveness.
Before you apply, here are some steps you can take to prepare:
- Gather your documentation: This includes your proof of Canadian citizenship or permanent residency, your student loan statements, and your nursing or medical license.
- Learn more about designated communities: The government will be releasing a list of communities that are eligible for the program. Familiarize yourself with these communities and start researching potential job opportunities.
- Consider your career goals: This program is a great opportunity to make a difference in your community and receive financial assistance with your student loans. However, it is important to make sure that working in a rural or remote community is a good fit for your career goals and lifestyle.
To apply, submit a:
- Canada Student Loan Forgiveness for Family Doctors and Nurses Application (PDF format, 123 KB), and
- Canada Student Loan Forgiveness for Family Doctors and Nurses Attestation (PDF format, 89 KB)
To stay eligible, you must re-apply every year. A reminder letter will be sent to you each year as long as the Canada Student Financial Assistance Program records show that you may be eligible.
Once your application is approved, your Canada Student Loan balance will be reduced. Your monthly payments will also be reduced unless you opt out on your application form.
You can make changes to your monthly payments at any time. For more information, please see what payment options you may have.
Conclusion
The Canada Student Loan Forgiveness program is a valuable opportunity for nurses and doctors who are interested in working in rural and remote communities.
If you are considering a career in healthcare and are looking for ways to manage your student loan debt, this program is definitely worth exploring.
