CSL forgiveness for family doctors

[la marzocco]

Has anyone given this a thought? 

https://www.canada.ca/en/employment-social-development/services/education/student-loan-forgiveness.htm

As a family doctor or resident in family medicine, you could receive up to $40,000 in Canada Student Loan forgiveness over a maximum of five years ($8,000 per year).

Let's say one decides to do a FM residency at a rural site or at NOSM, a $16K debt forgiveness is not too shabby. That's on top of PGY1/2 salary.

[indefatigable]

9 minutes ago, la marzocco said:

Has anyone given this a thought? 

https://www.canada.ca/en/employment-social-development/services/education/student-loan-forgiveness.htm

As a family doctor or resident in family medicine, you could receive up to $40,000 in Canada Student Loan forgiveness over a maximum of five years ($8,000 per year).

Let's say one decides to do a FM residency at a rural site or at NOSM, a $16K debt forgiveness is not too shabby. That's on top of PGY1/2 salary.

Definitely something I would consider if I had a family or were drawn to particular region  Other provinces also have similar programs.  

[Birdy]

Yes, I plan to take advantage of this program when I am practicing. I don’t think my residency location qualifies, but I can use it when I return home to practice after residency.

Between that and a few incentive programs I plan to take advantage of, I’m ultimately going to receive enough to pay off almost all of my student debt. 

[frenchpress]

I have heard from some residents I know that rural electives during residency can also count towards this if you can do them in qualifying communities. I am sure it can be be hard to get a full 400 hours of rural electives in one year for some programs. But in BC it is actually prorated, so once you have 100 hours in an eligible community in one year you can get 10% back on the provincial component of your loan, and it goes up from there until you reach 400 hours and 20% back. The provincial loan component is smaller compared to the federal one, but it’s still cash on the table that’s good to know about!

[ralk]

You can definitely qualify for this program in residency, and it doesn't have to be through your main base for training. A few rural rotations is enough to count. It's a decent program if you have a reasonable chance of meeting the requirements each year of residency.