ATLANTA — Veterinarians living and working in Georgia could be eligible for some student loan relief if a new bill filed in the state legislature passes.
House Bill 172 would make it so veterinarians from and working in Georgia could have their loans forgiven by the state, through a purchasing agreement, if they work a job in their specialty in areas with 50,000 or fewer residents for up to ten years.
In Georgia, that means that those who enter these agreements could have the state of Georgia take over responsibility for their loans, as long as they meet the requirements of HB 172.
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According to the legislative text, eligible veterinarians would be able to have up to $90,000 purchased by Georgia, at a rate of $30,000 per 12 months of service, if entering into a purchase agreement.
The contract for loan purchases will be entered for a “term of three consecutive years,” meaning that if a veterinarian is in such an agreement, they have a possibility of having their loans purchased fully in up to three installments if it is less than or equal to $90,000, under the per year conditions mentioned above.
Should a veterinarian participate in this proposed program, they could only do so once during their lifetime.
The Georgia State Board of Veterinary Medicine will be authorized to cancel the loan purchase contract of applicants at any time if given sufficient cause, so long as it is not arbitrary or unreasonably exercised, according to the proposal.
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