Loan Forgiveness For Radiologic Technologists

There are loan forgiveness programs for radiologic technologists available. The selection criteria are as follows for one programs which is titled the Faculty Loan Repayment Program. In exchange for educating tomorrow’s clinicians, health professions faculty from disadvantaged backgrounds can apply for a maximum of $40,000 from the government to pay back their student loans.

The applicants must agree to serve on the faculty of an accredited health professions for two years. Matching funds should be available from their educational institution. The applicants must also be US citizens, nationals or permanent residents, have a degree or be enrolled in an approved graduate training program in radiologic technology.

The application is on the FLRF website and funding is distributed based on need, to full time or part time faculty with matching funds from their employers funded first, then hose applicants without access to matching funds next, and part time faculty lastly.

The FLRF is a federally funded program, but there are other loan forgiveness programs on a state level that can be applied for contingent on where you live. Any state that receives federal money, and all states do, have to varying degrees loan repayment plans in force to encourage current graduate students or recent graduates in radiologic technology monetary incentives to work in disadvantaged areas in exchange for loan forgiveness.

The basic requirements for these state programs are to have financial need, be currently working in the field and be licensed in the discipline of radiologic technology and be willing to serve in a medically underserved area. The monetary amount of these programs varies. As a general rule the programs offer loan forgiveness of outstanding federal loans, providing the applicant agrees to work for a minimum of two years in the medically underserved area.

The pay scale in these medically underserved areas is often appreciably less than they would make in private practice or working in an adequately medically served community. The desire to have loan forgiveness often supersedes the need to make a larger salary at last for a few years. Debt is something everyone has to deal with to the best of their ability.

Educational debt from pursuing a degree program in radiologic technology, which generally is a two year program, can run as high as $30.000, depending where you get your training, and if you choose to specialize. There is a good feeling to start your work life without educational debt hanging over you. Thais is the rationale behind the Federal and some state governments from offering loan forgiveness programs for radiologic technologists. There is another rationale behind loan forgiveness; it is ostensibly cheaper for medical institutions to recruit full time radiologic technologists than to depend on temporary inconsistent floaters who cannot provide a continuity of care to their patients. Reliability and consistency are what leads to efficiency in the delivery of medical services. Constant turnover does not lead to efficiency; it is much more efficient to have permanent staff than to have to scrounge for staff, offering wage bonuses, engaging in bidding wars which goes on intermittently by radiology managers in attempts to secure permanent reliable staff.