Medical Students Could Have Their Debt Wiped By Doing This
How far would you go not to have to pay any of your student debt back?
If you’ve already thought about moving out of town to somewhere a bit more remote, then you may not have to do a lot to get your debt wiped at all.
Under a new scheme by the federal government, doctors and nurses can have their student loans wiped by moving to rural or remote areas.
Why is it being offered?
The reason for this very generous pay off is to fill the many medic vacancies currently available in more remote areas.
This pay off could be up to $100,000 for some medical students, which will make a big difference to your monthly outgoings once you graduate.
It’s not just the vacancies that are the problem — people living in rural areas are much more likely to need treatment for serious injuries, and with 28% of the Aussie population living outside of towns and cities, this is a big proportion of the population that needs medical care.
What do you need to do to qualify?
Other than the obvious (being a doctor or nurse), there are a few conditions to the scheme that you need to agree to in order to have your loan paid off.
If you move out to a remote community, then you’ll need to work a minimum of 24 hours a week for a period of time equal to half of the time you spent studying your degree.
For medics moving to rural or regional areas, it’s 24 hours a week for a period of time equal to your entire degree.
That means this isn’t a quick vacation or work experience placement — you’ll be expected to stay there for a few years, so make sure you’re serious about it before applying.
Basically, the more remote you are, the better the quicker your loan is paid off. This is on top of other benefits that are already available to remote practitioners, including medicare benefits and scholarships.
So, if you fancy an adventure into the bush, or are ready to get out of the city after years of studying, then this could be the perfect opportunity for you to spread your wings and pay off that hefty student loan.