15 Best Student Loan Forgiveness in Kentucky | Review

Student debt is becoming an increasingly common aspect of college life for students with Kentucky student loans forgiveness. According to The Institute for College Access & Success, student loan borrowers make up 61% of Kentucky’s graduates. 

Debt from student loans can be stressful, especially for people who do not make a lot of money or who work in nonprofit industries. 

The burden is palpable for Kentuckians, whose average graduate student loan debt is $28,356. 

What you should know about student loan forgiveness possibilities in Kentucky is provided below.

Kentucky student loan forgiveness in 2024

The Kentucky State Loan Repayment Program is the only state-specific loan forgiveness program available in Kentucky.

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Kentucky State Loan Repayment Program

The Kentucky student loan forgiveness program’s eligibility requirements target healthcare professionals. 

You must agree to labor for two years straight, full-time, in a state-identified needy area to qualify for loan forgiveness assistance.

 Rural and low-income areas are included in this. 

But just a few applicants are chosen to take part in the program because it is competitive. 

After finishing the prerequisites, those accepted into the program might have their loan obligations satisfied.

Kentucky’s only federally sponsored forgiveness program, the State Loan Repayment Program (SLRP), is specifically designed for primary care medical professionals.

 A qualified professional can receive up to $100,000 in student loan forgiveness in exchange for two years of full-time employment in a federally designated Health Skills Shortfall Area (HPSA).

This program is open to:

  •  doctor
  •  medical assistant
  •  nurse practitioner
  •  Certified Nurse Midwife
  •  registered nurse
  •  dentist and dental hygienist
  •  pharmacist
  •  alcohol/drug abuse counselor
  •  SLRP-enabled website

To maintain Kentucky Loan Repayment Program eligibility, you must practice at an eligible location. 

These sites include his FQHC and RHC, but others include correctional facilities, CMS sites, and more.

Many Americans associate his HPSA only with rural settings, but healthcare provider shortages can occur almost anywhere.

Thus, other eligible practice sites may include schools, state facilities or clinics, jails or prisons, and more sites.

Forgiveness amounts

The amount of forgiveness you are eligible for depends on what type of provider you are.

Physicians, dentists, and pharmacists qualify to receive up to a maximum of $100,000. 

Physician Assistants, Nurse Practitioners, Nurse Midwives, and mental health providers may earn up to $60,000 in loan repayment assistance. 

Finally, registered nurses, dental hygienists, and substance abuse counselors are eligible for $40,000 in forgiveness. 

Applying for the Kentucky Loan Repayment Program

The vendor application requires about 7 pages of work, but you’ll also need to promote your vendor page if you’ve never been to the program.

Unlike many other applications, you must provide references to the state, review all eligibility criteria, and answer questions about working with the underserved population statewide.

Applications must be submitted by September 1st of each year.

This application is more detailed than similar programs in other states, so I think you should give yourself plenty of time to complete it. 

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Set aside time to speak with potential referrers and ask if it’s okay to provide contact information. 

 Special attention should also be paid to program commitments. 

Also, although an application does not constitute a final obligation to attend, if it is accepted and you violate your obligations to Kentucky, you are obligated to return the credits awarded.

See also: How to Apply for Student Loan Forgiveness in Florida | Review

Federal student loan forgiveness programs for Kentuckians

However, Kentucky student loan forgiveness goes beyond merely relying on state-run initiatives. 

Federal U.S. programs are available to people with student loan payments as well. 

Resources from the Department of Education and others

Public Service Loan Forgiveness (PSLF)

After making 120 required payments, PSLF may be a means for people who work for nonprofit organizations to get their loans canceled. 

You must have Direct Loan program debt and be enrolled in an income-driven repayment plan in order to qualify. 

Your monthly payment will be easier to handle, and after you fulfill the PSLF requirements, you may be eligible for federal debt forgiveness.

Eligible borrowers with outstanding federal direct loans in Kentucky can benefit from the PSLF program. 

Government Loan Forgiveness forgives all eligible outstanding federal debt after the borrower has made his 120 eligible payments under the federal income-based repayment program.

Eligible IDR plans include Income-Contingent Refund, Income-Contingent Refund, Pay as You Earn and Revised Pay as You Earn. 

In addition to the credit and repayment criteria, you must also meet the following criteria:

 Hold a Qualifying Job: Qualifying jobs include working in the public sector, working with a 501(c)(3) nonprofit, and employment with any local, state, or federal agency other than Congress.

Work full-time: Eligible positions require you to work 30 hours a week. 

You must also produce proof of employment each time you enroll in the program.

Read also: How is a Student Loan Different from a Scholarship?

Teacher Loan Forgiveness

If you have taught for at least five years in an underprivileged region, you may be eligible to receive up to $17,500 in loan forgiveness. 

Utilizing teacher loan forgiveness can dramatically minimize your federal debt.

Teacher Loan Forgiveness is an option for Kentucky educators who meet the following criteria:

  •  At least she’s been a full-time teacher for five consecutive grades 
  •   Employed in a Title 1 school or a school serving low-income students
  •  you have at least a bachelor’s degree
  •  Fully accredited as a teacher
  •  work in the classroom 

The degree of forgiveness that the TLF program can offer depends on your teaching subject. 

Anyone teaching math or science at the secondary level can receive up to $17,500. 

Both elementary and middle school special education teachers are also qualified.

Teachers of all other subjects are eligible for a waiver of up to $5,000.

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National Health Service Corps Loan Repayment Programs

You may be eligible for assistance with repayment from the federal government if you are a healthcare practitioner working in an underserved area.

 Through the National Health Service Corps, there are many debt payback plans for various healthcare professions. 

Your loan repayment amount is also influenced by how many years you serve in the military and whether you work full- or part-time. 

Depending on your circumstances and years of satisfactory service, you may receive up to $100,000 in loan repayment.

Kentucky residents may also be eligible for reimbursement assistance from the National Health Service. 

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The NHSC has three health care provider programs that include a two or three-year service contract in exchange for $50,000 to $100,000 in student loan forgiveness. .

Eligible providers include physicians, physician assistants, nurses, board-certified midwives, dentists, dental hygienists, psychologists, licensed clinical social workers, therapists, and counselors.

Must be working in the Kentucky HPSA area. 

Be sure to do your homework to determine whether it is more beneficial for you to pursue the NHSC loan repayment or the Kentucky loan repayment program. KY SLRP will be explained in detail later.

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Perkins Loan cancellation

Depending on your occupation, you may be eligible for Kentucky student loan forgiveness if you have Perkins Loans. 

Educators are frequently eligible for Perkins loan cancellation under the program, but borrowers who work as police officers, public defenders, librarians in specific schools, or in other professions may also be eligible.

Persons with outstanding federal loans from Perkins may be given a five-year call term. 

Perkins Loan Forgiveness was created to reward those who work in qualified employment or volunteer roles.

This program can be used by people working in the following types of careers:

  •  foundation
  •  Firefighter
  •  public defender or lawyer
  •  Tribal college or university faculty 
  •   School librarian with title 1 
  •   School Speech Therapist with Title 1
  •   and others 

Some volunteer organizations have partial qualifications. For example, volunteering with Vista or the Peace Corps can forgive up to 70% of your Perkins loan.

Aside from working in the right career and having an outstanding Perkins loan, the forgiveness program is fairly easy to understand. 

15% exemption from years 1 and 2 onwards, 20% from years 3 and 4 onwards, and the final 30% exemption from year 5 onwards.

Income-driven repayment options

In addition, you may be eligible for student loan forgiveness after 20 or 25 years of participating in income-driven repayment.

 You can use a Direct Consolidation Loan and then check your income to see if you are eligible for income-driven repayment. 

Be advised that tax repercussions may be associated with any forgiven loan debt issued after your first 20 or 25 years of payments.

You can also participate in one of the government’s income-based repayment plans. 

These plans include long-term repayment terms of 20 to 25 years, with reduced monthly payments based on a formula that takes into account household income, size, and location.

If I can pay off my debt in 20 to 25 years, I don’t know if I will be debt free. However, once the period ends, the balance will be awarded. 

Although not realized until 2026 at the earliest, exemptions received under the IDR plan could be treated as taxable income.

Other federal loan forgiveness programs

Additionally, various loan repayment plans in Kentucky offer student loan forgiveness. 

The Department of Justice provides student debt help for some of its workers. 

Additionally, other advantages can assist with student loan repayment if you serve in the military. 

You may receive some assistance with loan repayment by joining a service organization such as Americorps or the Peace Corps.

Private student loan refinancing

If you don’t qualify for the Federal Student Loan Forgiveness Program, refinancing may help you lower interest rates and save on student loan debt.

 Private student loan refinancing consists of borrowing a smaller student loan balance and paying it back with a new larger loan.

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 You may get a much lower interest rate if you have good credit. 

This allows you to pay off your student debt faster while saving on interest.

 However, each moneylender has its requirements. To qualify, you must have good credit and meet certain income requirements. 

If you do not meet the lender’s requirements, your refinance application may require a creditworthy co-signer.

No matter how many programs there are, student debt relief is not a viable option for some Kentuckians. It’s not a problem. 

If you decide not to seek federal or state repayment assistance, you should consider refinancing your loans, especially if you already have student loans.

Refinancing can often help you find a lower interest rate, change your repayment schedule, save money, or get out of debt faster.

Americans often wonder how to begin the refinancing process. 

When reviewing a store, remember to do so while your window of opportunity is limited. 

This will only affect his credit score once. You can also consider starting with marketplaces like Splash Financial or LendKey. 

Both companies have a network of participating lenders looking for your lowest interest rate. 

The biggest advantage of using Splash is that you can get your check in less than 3 minutes without hurting your credit score.

 However, once you refinance your federal student loans, you will no longer be eligible for PSLF, earnings-related repayments, an automatic moratorium in certain circumstances, and other federal benefits. 

If you don’t think you’ll need these perks in the future, refinancing can be a way to save money overall.

For my student loans, do I require 1099? 

Taxpayers who had their student loans forgiven in 2021 often won’t get a payee statement to let them know. 

To report the discharge of student loans excluded from gross income under Code Section 17 in 2021 through 2025, the IRS has instructed lenders not to file Form 1099-C or provide payee statements.

Debt Relief Options for Kentucky Residents

In Kentucky, there are numerous choices for debt relief. Based on your financial circumstances, you can choose the one that is best for you. A free credit counseling session will assist you in reviewing your alternatives if you’re having trouble deciding. In Kentucky, you have the following choices for debt relief:

  • Debt Management
  •  Debt Settlement
  •  Debt Consolidation Loans
  •  Credit Card Debt Forgiveness
  •  Bankruptcy
  •  DIY Debt Relief


Does Kentucky offer loan forgiveness for students? 

According to a 2021 analysis from the Kentucky Center for Economic Policy, the plan will, at the very least, relieve hundreds of thousands of Kentuckians of their student debt and offer eligible applicants loan forgiveness of up to $10,000 or $20,000. 

Does a credible scheme for forgiving student loans? 

Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness are two genuine federal loan forgiveness programs. However, many businesses may attempt to take advantage of borrowers by promising quick outcomes or asking for payment in advance for services they cannot deliver.


Any program to forgive student loans must be completed over several years. 

Whether you choose the state- or federal-level forgiveness option, you must at least plan for two years of service to take advantage of a debt repayment scheme. 

Make a plan for completing the requirements to receive assistance with repaying your student loans by researching the alternatives and specifications available. 

Our team of experts in student loans can assist you in deciding which plans would be most beneficial for you.

 Create a plan to help you pay off your student loan debt more quickly by scheduling a free consultation today.


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