Many states offer programs to help students pay back their student loan debt. While it is up to each state to determine their funding priorities, most states tend to channel their money to funding underserved areas. You get a perk of getting some free money to pay back your loans while the state gets the perk of filling a high need job. These loan forgiveness options exist for individuals who are residents of Indiana and meet the eligibility criteria of the program. Read on to find out more about some of Indiana’s main loan forgiveness programs:

Loan Repayment Assistant Program for Mental Health and Addition Professionals: This program is open to mental health providers of many different titles. Addiction counselors, psychologists, psychiatrists, licensed mental health providers, and psychiatric nurses can all benefit from this program. The aim of the program is to increase the recruitment and retention of professionals who have expertise in either addiction or mental health. This program is open to individuals who are accepting a new job in Indiana and those who wish to start their own practice.

In order to apply for the Loan Repayment Assistant Program for Mental Health and Addition Professionals Program, all applicants must submit a completed application before the application deadline. Most professionals can receive up to $25,000 per year for up to four years. However, addiction psychiatrists can receive funding for one additional year. For complete information about this program, please read the information on this website.

Justice Richard M. Givan Loan Repayment Assistance Program: This program is open to students who have attended law school and who wish to work in the civil legal aid arena. In order to be eligible, students must plan to work with low-income families in Indiana through a non-profit agency.If you are interested in reading more about this program, additional information is available at this website. Individuals can receive up to $5,000 per year to lower their student loan debt, provided that their annual salary does not exceed $50,000.

What if I Do Not Qualify for Indiana State Loan Forgiveness Programs?

Unfortunately, Indiana has a limited amount of money at the state level to dedicate to helping students pay back their loans. Thus, if you are not in the mental health or law field, you may be out of luck in terms of getting loan forgivness from Indiana. However, there are alternative routes to explore!

Volunteer: There are several volunteer organizations that were created to help students pay off their loan debt. In exchange for giving some of your time to complete volunteer projects, you will be rewarded with money that can be used exclusively to pay back your student loans. One such organization is called You can complete a brief profile and sign up to be a “Change Agent.” Then, you can explore existing projects to see which ones match your interests and skills. The funding is provided through donors and philanthropists.

Members of Congress Push for Faster Forgiveness Approval

Permanent Disability Relief: This is one of the most poorly understood ways to have your loans forgiven. There is a clause in most federal loans that permits lenders to forgive the debt if the individual has suffered a permanent disability. This means that you must have been unable to work for the past 60 months and do not expect to be able to work again for an upcoming 60 months. If you meet those criteria, you could apply to have your loans forgiven. This is typically used in cases where there has been an unexpected accident or some other major medical illness that precludes the borrower from working. This does not work for individuals who have a temporary disability or inability to work.

Loan Forgiveness Programs for Health Care Professionals: Health professionals have a variety of options to have their loans forgiven at the federal level. Some of these come with a requirement to serve in the military and others come with the requirement of working in an unserved area or with an underserved population. The loans range in value, but some programs will help you repay all loans provided that you abide by the service commitment.

Teacher Student Loan Forgiveness: This program is designed for students who majored in education and are working on a full-time basis at an elementary or secondary school that is located within the United States. In order to be eligible for this relief, the applicant must work for at least one year in a low-income school. Up to 100% of Perkins Loans that you took out could be forgiven through this program. More specifically, 15% of the actual loan is forgiven per year in the first and second years of service. During the third and fourth years of service, 20% of the loan is forgiven per year. If you stay a fifth year, the remaining 30% of your loan will be forgiven. This program is nice because in addition to forgiving the student loan, the accrued interest is also forgiven.

Public Service Loan Forgiveness: This program is one of the most popular ways to have your student loans forgiven. This mechanism is open to health care workers, teachers, law enforcement officers, public safety officers, emergency personnel, and government workers (this includes workers at the local, state, and federal levels). After ten years of making your minimum payments on time, the remaining balance of your loans will be forgiven. In order to apply, students must fill out an application after they have paid their loans for ten years. They will need their employer to sign a form and then they must send all information directly to their loan servicer. Additional information can be found here.