Hawaii announces first recipients of student loan payment program for health care workers
HONOLULU– The state has announced the first recipients of a program aimed at helping medical professionals pay off their student loans in exchange for a two-year commitment to provide care in Hawaii.
Gov. Josh Green on Friday thanked state lawmakers for providing $30 million to fund the program. An additional $5 million contribution came from Lynn and Marc Benioff to pay student loans for healthcare workers, specifically on Hawaii Island, where the Benioffs have a home, the Honolulu Star-Advertiser reported. Marc Benioff is co-founder, chairman and CEO of Salesforce and owner of Time magazine.
Green, who is also a doctor, plans to solicit similar contributions from potential benefactors to help pay off more student loans. He wants the Hawaii Healthcare Education Loan Repayment Program to become a national model. The state said each of the 492 health care workers will be disbursed up to $100,000 in loans as part of the first round of the program. Health care workers who get their loans paid off must also agree to treat 30% of patients who receive Medicaid or Medicare.
The next registration period is scheduled for next summer.
The first group represented Hawaii-based healthcare workers with outstanding student debt of more than $100,000 and as high as $500,000.
During the pandemic, Hawaii has spent $150 million to bring in traveling nurses, doctors and other health care professionals. It also reinforced the need for more health care workers in Hawaii who understand the community, Green said.
Dr. John Misailidis, who is dually board-certified in internal medicine and pediatrics, arrived in Hawaii for his residency through the University of Hawaii's medical school in 2011, owing $250,000 in student loans.
He said he is “extremely grateful” after learning that Hawaii will pay off $100,000 of his debt.
“I really fell in love with the people here,” he said. “I love the local culture… and I am very grateful that I can stay.”