NYC Health + Hospitals offers more than $500K to staff to help pay off student debt

Healthcare workers at NYC Health + Hospitals have received $580,000 in grants to help them pay off student debt. The grants are on the condition the workers pledge three years of service to the health system.

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The money focuses on behavioral health staff at the 11-hospital system, which provides about 60 percent of New York City’s behavioral health services, the system said in a release shared with Becker’s. Each of the 16 grants were worth between $30,000 and $50,000 per employee.

The money was made possible through an anonymous $1 million donation, meaning that a further $420,000 is available for additional grants. Applications are open until May 1 for those.

Early-career psychiatrists have on average $190,000 of medical school debt, psychiatric nurse practitioners have on average $56,000 of debt, social workers have on average $68,000 of debt and psychologists have on average $80,000 of debt, NYC Health + Hospitals said.

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