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Grants To Pay Off Student Loans In 2024

Paying off tuition fees is painstaking for all the parents and students themselves. Although the fact that education is crucial for every child has gotten to everybody’s head. The agonizing truth of excruciatingly expensive educational courses is right there in front of our eyes. For this reason, the federal government has considered grants to pay off student loans.

Students tend to take loans at a very young age to get complete their education. This harsh reality of the education system has taken down many students off the stage. They are unable to pay their tuition and thus, have to give up on their education.

The most number of dropouts come from high schools and graduate programs. Students, though unwillingly, have to quit their crucial stages of education. This pattern has been there for years now. Hence, there is an overwhelming requirement for grants to pay off student loans.

For students to get into a good school is not just about how well they score on their SATs. The real pain is paying the fee for their education and other expenses. This is where student loan grants come into play. The federal government has tried to help these students by giving them grants to pay off student loans.

There are several such grants to pay off debt for students who have taken loans for their education. These debt relief grants are discussed in detail below. Read on to know ‘How do I get the government to pay off my student loans.

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How To Get Grants To Pay Off Student Loans?

Be it donors that pay off student loans or the government programs that pay off student loans. There are many ways to get help paying student loans. Students and parents go out of their way to complete a set of educational courses to secure a better future. In this process, a helping hand like grants to pay off student loans means a lot.

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There are a few categories of these loan repayment grants form the government’s end. Here’s how you can classify your grants to pay off student loans :-

  • Loans based on career goals
  • Students loans by the federal government
  • Non-profit or voluntary aid for loan repayment
  • Scholarships to pay off student loans
  • Grants for military student loans
  • State-based student loan forgiveness grants
  • Loan forgiveness grants from corporate employers
  • Grants to pay off student loans for healthcare workers
  • Grants to pay off private student loans

List of Grants To Help Students Get Out Of Debt

If you’re a higher education student residing in the United States, you are probably aware of the distressing loan amounts that one has to pay to complete education. This pain of saving money for paying off your tuition doesn’t seem to cease for the longest time.

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Free grants to pay off student loans

Unless you’ve got a high-income family support, dreaming of going to an Ivy-league school of your choice stays a dream. Now, you know that there are certain programs that work toward this issue but don’t know which ones.

So, here is a list of grants to pay off student loans :-

  • National Health Services Corps Grant :- The NHSC program was initiated to help medical students, dentists, and mental health students. The students can significantly reduce the amount fo loan repayment with these grants to pay off student loans.

It works on the premise that you have completed two years of service in a particular area. This service should be in a limited healthcare availability area. On completion of the two-year service, you receive a $50,000 grant against your loan. If the service has been part-time, you can get upto $25,000 as grants to pay off student loans.

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  • Nurse Corps Repayment Program :- If you’re wondering, ‘Can I get money for paying off student loans’, you have stumbled upon the right place. These grants to pay off student loans are offered by  Health Resources and Services Administration (HRSA).  The eligible population for this grant is as follows:
    • Licensed and registered nurses (RN)
    • Advanced practice registered nurses (APRN)
    • Nurse faculty members (NF)

The applicants must have a commitment toward two-year full-time service in a critically shortage healthcare availability area.  This will get them 60% off on their loan amount. An additional 25% grant is given to those offering a third year of service.

  • Indian Health Service Loan Grant :- This one is specially built to help American Indian students. Those in the filed of healthcare can get the benefits of this program. This program also gives away upto $50,000 waiver off of the loan amount in exchange for 2 years of services. The service can be continued and claimed if the loan has been repaid in 2 years of time. You can extend the service and apply for more grants to pay off student loans.
  • Student To Service Loan Forgiveness Program :- A component of the National Health Service Corps (NHSC) program, this one offers upto $120,000. These grants to pay off student loans are given to medical students in their last year of schooling.

Well, the waiver doesn’t come for free. You need to provide 3 years of service in the healthcare sector, at a place chosen by NHSC.

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Other Exclusive Forget Your Student Debt Grants

The grants and programs mentioned above are the ones that the government has planned and executed for the students of its country. Apart from these programs, there are several other grants to pay off student loans that you can check out.

  • Joanne Pransky Celebration Of Women In Robotics :- As the name suggests, this grant is for female students studying in the field of robotics. It is funded by Women in Robotics and aims to honor Joanne Pransky, a renowned personality in the field of robotics. The eligible students are either from high school or a 2 or 4-year undergraduate program. The amount given as a scholarship is $3000.
  • Carlos F. Garcia Muentes Scholarship :-  This one is funded by the Pride Resource Network in memory of Carlos Fredy Garcia Muentes. The grants to pay off student loans in this category help immigrant students. The immigration status should be first or second generation and the student must be a first generation college student. Students get upto $500 as a grant.
  • GIST Sports Media Scholarship :- Giving away $1000 for students passionate about sports media, this one is applicable to all students. The students must have a keen interest in empowering women in sports.
  • Dona Lupita Immigrant Scholarship :- This one is for those who are immigrants and are children of a single parent. Education level could be any, unspecified and the amount given is $2000.
  • Dylan’s Journey Memorial Scholarship :- Dylan’s scholarship comes across as a relief for high school and undergraduate students who are diagnosed with Neurofibromatosis. This one could also be applicable to those with any sort of learning disability.

Conclusion :-

In these times of costliness, the expense of higher education is back-breaking. Students have a hard time completing their education in light of the loans and debts that they have on their shoulders. Thus, to help students with these issues, the government ahs decided to give off some leeway.

There are serval grants to pay off student loans given by the federal government. We have discussed both government funded and private scholarships and grants to pay off student laons. Hoping that you found this article informative, we shall take your leave.

About Author
Steven Anderson is a investment banking instructor with over 15 years of experience teaching analysts, associates and senior management within financial institutions how to be more effective at their jobs and write about insurance & finance for Lowincomefamilies.com

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