Honolulu – The state of Hawaii has revealed the first recipients of a groundbreaking program designed to assist medical professionals in paying off their student loans. In exchange for a two-year commitment to provide care in the state, healthcare workers will have a portion of their loans covered. The program, known as the Hawaii Healthcare Education Loan Repayment Program, aims to alleviate the burden of student debt and attract more healthcare workers to the region.
Generous Contributions
Governor Josh Green expressed his gratitude to state lawmakers for allocating $30 million to fund the program. Additionally, Lynn and Marc Benioff contributed $5 million to help pay off the student loans of health care workers specifically on Hawaii Island, where the couple owns a home. Marc Benioff, the co-founder, chairman, and CEO of Salesforce, hopes that their contribution will serve as an example for others to follow.
Positive Impact
Green, who is both a governor and a doctor, plans to seek further contributions from potential benefactors to expand the program’s reach. His ultimate goal is for the Hawaii Healthcare Education Loan Repayment Program to serve as a national model. The first round of the program will benefit 492 healthcare workers, with each eligible individual having up to $100,000 of their loans paid off. In return, these professionals must commit to treating 30% of patients who receive Medicaid or Medicare.
Continued Support
The next application period is scheduled to open in the summer of next year, giving more healthcare workers an opportunity to participate. The initial group of recipients consisted of Hawaii-based healthcare workers with student debt ranging from $100,000 to $500,000. The program’s implementation was reinforced by the challenges faced during the pandemic, during which Hawaii spent $150 million to bring in healthcare professionals from other locations. The need for a stronger local healthcare workforce became evident, prompting the state to take action.
Expressions of Gratitude
Dr. John Misailidis, who arrived in Hawaii in 2011 burdened with $250,000 in student loan debt, expressed his immense gratitude upon learning that $100,000 of his debt would be covered by the program. As a double board-certified professional in internal medicine and pediatrics, Misailidis fell in love with the community and is grateful for the opportunity to continue serving in Hawaii.
