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Physicians interested in pursuing public service loan forgiveness (PSLF) under new Department of Education rules should consolidate their loans into direct government loans by May 1. Physicians cannot obtain PSLF without a direct government loan.
In December 2022, the PSLF regulations were updated with a fix sought by CHA — that all eligible California physicians can participate in the program, despite the state’s prohibition on physician employment. Applications under the new rules will be accepted beginning July 1, and are retroactive for the last 10 years of work in public and private nonprofit hospitals and clinics.
If physicians want to have time counted toward forgiveness that they have already worked (but with the wrong loan type) they need to apply for/consolidate their loans by May 1, 2023. This is the only way for physicians to include the time that previously did not count under earlier PSLF rules.
More information on loan consolidation requirements is available in a Department of Education fact sheet. CHA continues to work with the California Medical Association to seek additional guidance on the updated PSLF requirements.