Student Loan Repayment and Refinancing Options for Physicians in Utah (Latest update May 2026)

Please note:

Important Notice: Student Loan Repayment Programs Are Rapidly Evolving

Federal student loan repayment programs, including key income-driven plans like SAVE, PAYE, and ICR, are undergoing a substantial overhaul under proposed legislation. If enacted, these programs may be phased out and replaced by just two options: a revised Standard Repayment Plan and a new Repayment Assistance Plan (RAP), which would base payments on income and include a 30-year forgiveness structure.

The SAVE plan was created in 2023 and was the most affordable student loan repayment option, but it was challenged in court and is now being eliminated by the Department of Education. This article covers what the 7 million people enrolled in the SAVE plan need to know now that the SAVE plan is ending.

If you are currently in SAVE and must switch plans, you can use our website to learn more about other repayment options and how to think about choosing a plan. Explore other income-driven repayment (IDR) options that base your monthly payments on your income and family size:

  • Income-Based Repayment (IBR),
  • Pay As You Earn (PAYE), and
  • Income-Contingent Repayment (ICR)

Each of these IDR plans have different eligibility criteria, but they all base payments on income and family size and promise cancellation of any remaining debt after 20 to 25 years in repayment. Depending on your income and family size, your payments may be as low as $0 per month in these plans.

You may also be interested in the Repayment Assistance Plan (RAP), a new income-driven repayment plan that will be available on July 1.  RAP is different from the other IDR plans:

  • It uses a different formula to calculate payments, and does not offer $0 payments no matter how low your income is.
  • It has the longest repayment period before any remaining debt is cancelled (30 years).
  • It provides more help to make progress in paying down your loans: it cancels any interest not covered by your monthly payment (like SAVE did) and it provides a small principal reduction of up to $50 per month for some borrowers.

RAP may be a good fit for you if you want to fully pay off your loans and you want to get any interest not covered by your monthly payments cancelled. However, RAP may not be a good option for you if you are low-income, because you may face higher monthly bills and be in repayment for a longer period of time before your loans are cancelled.

Other options include the Standard and Extended plans, which set payments based on the amount of your loan balance and require you to fully repay your loans within a set number of years. Typically borrowers finish repayment sooner but have higher monthly payments in the Standard Plan than in IDR plans.

Sources: StudentAid.gov Student Loan Borrower Assistance National Consumer Law Center; Congressional Budget Office RAP analysis; Federal court rulings on SAVE (8th Circuit, 2024)

NATIONAL

Public Student Loan Forgiveness Program

Physicians whose work qualifies as public service can qualify for the Public Student Loan Forgiveness Program.

This is largely determined by their employer. Public service includes full-time employment by a 501(c)(3) tax-exempt nonprofit or public institution (which many hospitals are). It also includes working in areas that are underserved or have a high need for medical professionals.

Borrowers must make 120 payments (monthly payments for 10 years) while carrying out PSLF-qualified work. Then, the federal government will forgive the remaining debt.

Indian Health Service Loan Repayment Program

If you are a dedicated health professional willing to fulfill a two-year service commitment, the IHS Loan Repayment Program (LRP) can help you chart a course for a long-lasting and successful health care career. The LRP awards repayment of up to $50,000 for qualified health profession education loans to clinicians who commit to practice in health facilities serving American Indian and Alaska Native communities for an initial two-year commitment. Opportunities are based on Indian health program facilities with the greatest staffing needs in specific health profession disciplines.

As an LRP participant, your skills will help communities in need of medical professionals and services, allowing you to practice where you’re needed while paying off your qualified school loans. Many health professionals enter this program because of the financial rewards, but find the cultural and professional rewards to be so great that they spend their entire careers working in Indian health.

National Health Service Corps

The National Health Service Corps Scholarship Program (NHSC SP) awards scholarships to students pursuing eligible primary care health professions training.

In return, scholars commit to provide primary care health services in Health Professional Shortage Areas (HPSAs).

Members commit to a minimum two years of full-time service in exchange for a full year of scholarship support.

You must serve at an NHSC-approved site in a HPSA. The total number of years you serve will depend on the number of school years of NHSC SP support you received. (This cannot exceed four school years.) For more information click here. 

MILITARY

NAVY

Health Professions Scholarship Program (HPSP)

HPSP covers 100% of the cost of medical school tuition and required fees, plus offers a monthly stipend to cover living expenses for up to four years. Medical school candidates may also be eligible for a sign-on bonus of up to $20,000.*

Current stipend amounts are updated annually — verify the latest rate at navy.com/healthcare. Previously published figures of $2,088/month reflect older rates and may no longer be current.

Health Services Collegiate Program (HSCP)

HSCP provides a monthly salary and housing allowance (BAH) while finishing medical school, for up to 48 months of your program. Pay ranges vary based on officer grade and duty location and are updated each January with annual military pay adjustments.*

For current pay rates, see militarypay.defense.gov.

Financial Assistance Program (FAP)

FAP provides support during a typical residency program, including an annual grant plus a monthly stipend to cover living expenses. The annual grant has historically been approximately $45,000, with monthly stipends updated annually.*

Offers for Practicing Physicians

Practicing physicians interested in Active Duty service may qualify for incentives including sign-on bonuses and extra pay for certain specialties. Those interested in Reserve service may qualify for specialty pay, sign-on bonuses, or loan repayment assistance through the Health Professions Loan Repayment Program (HPLRP).*

Download the detailed brochure for all Navy programs at navy.com/healthcare.

AIR FORCE

Health Professions Scholarship Program (HPSP)

The Air Force offers scholarships for healthcare professionals including:

  • One- and two-year scholarships for Allied Health specialties (pharmacists, optometrists, clinical psychologists, and public health officers)
  • Two- and three-year scholarships for nurse corps specialties
  • Three- and four-year scholarships for medical corps and dental corps

These scholarships cover all tuition and required fees, including textbooks, small equipment items, and supplies. You will also receive a monthly allowance for living expenses.

While on scholarship, you will spend 45 days on active duty in the Air Force each year. Upon graduation, you will serve one year of active duty for each year of scholarship received, with a minimum three-year service obligation.

Financial Assistance Program (FAP)

The Air Force Financial Assistance Program for medical and dental residencies provides support during residency, including an annual grant of more than $45,000 and a monthly stipend of over $2,000 (amounts adjusted annually). Upon completion of your residency, you will have a one-year obligation for each year of participation, plus one additional year.

Additional Graduate Medical Education (GME)

The Air Force offers residency and fellowship programs in a wide variety of specialties. Nearly all residencies are integrated or affiliated with civilian universities.

Learn about all Air Force programs: airforce.com/healthcare

Active Medical Corps Benefits

By choosing to practice in the active Army, you will receive a comprehensive benefits package including a competitive salary and financial incentives such as medical school loan repayment. Additional benefits include:

  • Practice environment free of overhead and malpractice insurance costs
  • Low-cost or no-cost medical, dental, and life insurance
  • Generous retirement plan options
  • Housing allowances and 30 days of paid vacation annually

Health Professions Scholarship Program (HPSP)

As a medical student, you may be eligible for a full-tuition scholarship plus a monthly stipend. Qualifying medical students may also be eligible to receive a sign-on bonus of $20,000. You must be enrolled in, or have a letter of acceptance from, an accredited medical school, and must be a U.S. citizen.

Monthly stipend amounts are updated annually — verify current rates with Army Medical Recruiting.

Financial Assistance Program (FAP)

If you are completing an accredited residency, you may be eligible for an annual grant of more than $45,000 plus a monthly stipend. Open to U.S. citizens. Grant and stipend amounts are subject to annual adjustment.

Active Duty Health Professions Loan Repayment Program (ADHPLRP)

You can receive up to $120,000 to pay down medical school debt. The ADHPLRP provides $40,000 per year for up to three years. This program may be combined with the Health Professions Bonus. Award amounts are subject to annual appropriations — verify current caps at hrc.army.mil.

Reserve Medical Corps Benefits

When you become a physician and officer on the U.S. Army Reserve health care team, you can practice in your community and serve when needed, with generous financial incentives and retirement plan options.

Health Professionals Special Pay

You may be eligible for up to $75,000 in Special Pay, paid in three yearly increments of $25,000, upon completion of a residency in a qualifying specialty. Open to permanent U.S. residents.

Healthcare Professionals Loan Repayment Program (HPLP) — Reserve

This program provides up to $250,000 for repayment of education loans for physicians in certain specialties serving in Army Reserve Troop Program Units, AMEDD Professional Management Command, or the Individual Mobilization Program. For each year of satisfactory service, a maximum of $40,000 will be applied to education loans.

Eligible specialties and award caps change with each fiscal year's appropriations — verify current terms with Army Reserve recruiting before relying on these figures.

Learn about all Army programs: goarmy.com/benefits/medical

UTAH

Utah Rural Physician Loan Repayment Program (RPLRP)

The Rural Physician Loan Repayment Program (RPLRP) provides educational loan repayment assistance to physicians who contract to work in a rural hospital for a minimum of two years of service.

The program awards providers in primary care, OB/GYN, general surgery, orthopedic surgery, pediatrics, and internal medicine throughout rural Utah hospitals.

Learn more: Utah RPLRP

Utah Health Care Workforce Financial Assistance Program (HCWFAP)

The Health Care Workforce Financial Assistance Program (HCWFAP) provides educational loan repayment assistance to healthcare professionals who locate and practice in underserved areas in the state of Utah.

  • The provider's site is required to match 20% of the award amount
  • This is a three-year service commitment to the State of Utah
  • Participating sites must provide care to underserved and/or rural populations, with preference given to sites located in Health Professional Shortage Areas (HPSAs)

Learn more and apply: health.utah.gov

Loan Consolidation and Refinancing

SoFi Student Loan Consolidation and Refinancing

AAFP has partnered with SoFi to help member residents and physicians refinance their existing private and federal loans. SoFi offers a range of options to optimize monthly payments, lifetime cost, or speed of payoff — with no origination fees.

Important: Refinancing federal student loans into a private loan permanently eliminates access to federal protections and programs, including Public Service Loan Forgiveness (PSLF), income-driven repayment plans, and federal forbearance options. Physicians pursuing PSLF should carefully weigh this tradeoff before refinancing federal loans. Refinancing may be most appropriate for those who do not qualify for or plan to pursue PSLF.

Learn more: SoFi via AAFP

SOURCES AND RESOURCES

The following official sources were used to verify and update the information in this document:

* Military program figures are approximate and subject to annual adjustment. Always verify current amounts with the respective branch's medical recruiting office.

This document was last reviewed in 2026. Given the rapidly changing regulatory environment, please review these programs annually.