States that repay student loans to settle there

Profitable student loans may seem like an impossible endeavor, in some cases a process that lasts 20 years or more. While there are federal programs that cancel your student loans after a certain number of payments, these can be difficult to qualify – and borrowers with private student loans aren’t eligible. However, there are other niche ways to get student loan forgiveness, including state programs that pay off your loans just by moving in.

States that repay student loans to settle there

Whether it’s attracting a younger population or boosting the local economy, states can have a variety of reasons for offering student loan forgiveness. It’s common for states to have student loan cancellation programs for lawyers, teachers, or healthcare workers, but some states specifically reward people who settle there. Before packing, read all of the eligibility requirements to see if the program is right for you. In some cases, you could save a significant portion of your student loan debt.


If you move to one of the 77 counties in Kansas designated as a Rural Opportunity Area, you may be eligible for student loan repayment assistance up to $ 15,000 over five years. You must have a student loan balance in your name and be a new member of one of these designated areas to participate.


Maine offers the repayment of student loan payments through a program called the Opportunity Maine Tax Credit. You must be a full-time resident of Maine to be eligible, and there are different other eligibility requirements depending on the year you graduated. Depending on your degree, when you graduated and the amount of your monthly student loan payments, you may be able to receive credit in excess of $ 4,000.


from Maryland SmartBuy 3.0 program provides $ 5,000 down payment assistance and student loan repayment assistance. You must have at least $ 1,000 in student debt to participate, and the program will repay a student loan amount equal to 15% of the cost of the home, with a maximum repayment amount of $ 30,000. This should fully pay off the owner’s student loan balance.


If you agree to work as a health care provider in an area of ​​health worker shortage in Michigan, you may be eligible for student loan repayment assistance of up to $ 200,000 through the Michigan State Loan Repayment Program. You must participate in the program for at least two years, but you can participate for up to eight years to be eligible for the full amount of repayment assistance.

Paying off student loans if you can’t move out

If you are unable to relocate and live somewhere with the student loan exemption programs you qualify for, you still have options. All federal student loans are eligible for certain loan cancellation programs, and you still have the option of paying off your loans on your own.

Federal student loan exemption

If you have federal student loans, you may be eligible for one of these federal student loan exemption programs:

  • Public service loan remission. This program requires you to have a job in the public service for 10 years, but after that period your student loan balance could be canceled.
  • Teacher loan forgiveness. Teachers who work for five years in a low-income school could have up to $ 17,500 or $ 5,000 from their canceled student loans, depending on the subject taught.
  • Perkins Loan Cancellation. If you have a Perkins loan, you could see up to 100% of your loan canceled by working for five years in an eligible position. This is available for teachers, nurses, firefighters, librarians and more.
  • Income-based repayment plan. There are many income-based repayment plans for federal loans that base your monthly payment on your income and your family size. After 20 to 25 years of payments, your remaining balance will be returned to you.

Private student loan repayment

If you are not eligible for federal forgiveness programs, there are always ways to return your student loan repayment more manageable.

If you have private student loans, one of the best ways to do this is to refinancing – this gives you a new interest rate, a new repayment schedule and a new monthly payment. If you qualify for a significantly lower interest rate, you could save money month-to-month and over the life of your loan.

You may also consider asking adjournment or abstention your student loans, which temporarily suspends payments.

Will President Biden Forgive Student Loans?

President Biden and other government officials have discussed the possibility of a large forgiveness of student loans – in particular, $ 10,000 per federal borrower. However, this level of student loan cancellation was not included in Biden’s 2022 budget proposal.

At this point, there is no way to tell if or when the federal student loan cancellation will come from the government, so we recommend that you create a plan to pay off your student loans on your own or research existing ways. to have your student loan debt. relieved.

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