California to pay off $58.6M in student loan debt for physicians

California will pay up to $300,000 in student loan debt for each of 247 physicians committed serving a caseload of at least 30 percent Medicaid patients for five years, according to The Sacramento Bee.

A 2015 survey conducted by the California Medical Board found 28 percent of California physicians had caseloads consisting of 30 percent Medicaid patients. The remaining 72 percent serve a smaller proportion of Medicaid patients or no Medicaid patients, according to the report.

California will forgive $58.6 million in student loans for the cohort of 247 physicians. The physicians represent 40 different specialties and work in 39 counties across the state. The program, which is operated by the philanthropic arm of the California Medical Association, Physicians for a Healthy California, is expected to run at least five more rounds of loan forgiveness.  

Read the full story here.

 

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