Title 38 — Veterans' BenefitsRelease 119-73not60

§7694 Specialty Education Loan Repayment

Title 38 › Part V— BOARDS, ADMINISTRATIONS, AND SERVICES › Chapter 76— HEALTH PROFESSIONALS EDUCATIONAL ASSISTANCE PROGRAM › Subchapter VIII— SPECIALTY EDUCATION LOAN REPAYMENT PROGRAM › § 7694

Last updated Apr 5, 2026|Official source

Summary

The program pays the principal and interest on certain specialty education loans by sending money to the loan holders for people chosen to take part. The Secretary sets the schedule for when payments are made. A participant can get up to $160,000 total over 4 years, and no more than $40,000 can be paid in any one year. The Secretary can lift those limits for someone who fills a job that is hard to staff because of the place or the job’s requirements, and then payments can cover the full principal and interest on that person’s loans.

Full Legal Text

Title 38, §7694

Veterans' Benefits — Source: USLM XML via OLRC

(a)Payments under the Specialty Education Loan Repayment Program shall consist of payments for the principal and interest on loans described in section 7682(a)(2) of this title for individuals selected to participate in the Program to the holders of such loans.

(b)The Secretary shall make payments for any given participant in the Specialty Education Loan Repayment Program on a schedule determined appropriate by the Secretary.

(c)(1)The amount of payments made for a participant under the Specialty Education Loan Repayment Program may not exceed $160,000 over a total of 4 years of participation in the Program, of which not more than $40,000 of such payments may be made in each year of participation in the Program.

(2)(A)The Secretary may waive the limitations under paragraph (1) in the case of a participant described in subparagraph (B). In the case of such a waiver, the total amount of payments payable to or for that participant is the total amount of the principal and the interest on the participant’s loans referred to in subsection (a).

(B)A participant described in this subparagraph is a participant in the Program who the Secretary determines serves in a position for which there is a shortage of qualified employees by reason of either the location or the requirements of the position.

Reference

Citations & Metadata

Citation

38 U.S.C. § 7694

Title 38 — Veterans' Benefits

Last Updated

Apr 5, 2026

Release point: 119-73not60