Canada Student Loan Forgiveness for Family Doctors and Nurses
The Government of Canada is happy to announce a 50% increase to the maximum amount forgivable for Canada Student Loans.
Effective November 3rd, 2023, eligible medical professionals who have worked for at least 12 consecutive months in an eligible rural or remote community will be able to apply for the Canada Student Loan Forgiveness for Family Doctors and Nurses benefit under the increased eligibility amount:
Qualifying family doctors could receive up to $60,000 in Canada Student Loan forgiveness over a maximum of five years, starting at $8,000 in the first year, and an extra $2,000 for each subsequent year.
Qualifying nurses could receive up to $30,000 in Canada Student Loan forgiveness over a maximum of five years, starting at $4,000 in the first year and an extra $1,000 for each year subsequent year.
Note: Your five years of service do not have to be consecutive; however, they cannot overlap. If you have a Canada Student Loan balance at the end of each year of service in an eligible community, you can qualify for loan forgiveness for five years.
If you are a practicing family doctor, resident in family medicine, nurse practitioner, or nurse working in an eligible rural or remote community, you may be eligible. Visit Canada.ca for more information on how to apply, when to apply, and whether your community is eligible for Canada Student Loan forgiveness.