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In a bid to alleviate the burden of student loan debt, the Hawaii Healthcare Education Loan Repayment Program is extending a lifeline to healthcare professionals, providing up to $100,000 for those committed to working full-time in the state. Meanwhile, in Michigan, a tax rebate program is set to benefit nearly 700,000 households with a one-time payment of $550, aiming to ease financial strains for families.
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Hawaii Healthcare Education Loan Repayment Program
In a progressive move, the Hawaii Healthcare Education Loan Repayment Program is granting up to $50,000 per year for two years, totaling a potential $100,000 for eligible medical professionals with student loan debt. The program aims to address the shortage of healthcare providers by incentivizing full-time work within the state.
Governor Josh Green emphasizes the program’s significance, drawing from his personal experience of having $140,000 in student debt forgiven through a similar initiative. With $30 million allocated by the state legislature and an additional $5 million donation, the program targets 492 recipients in its inaugural round.
The application process for the next round of funding is set to open in the coming summer, offering a continued opportunity for healthcare professionals to receive much-needed financial support.
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Michigan Tax Rebate Program
Michigan residents are set to receive a financial boost with a one-time tax rebate payment of $550. The increase in the state’s Earned Income Tax Credit, rising from 6% to 30%, will benefit nearly 700,000 households, providing relief for families facing various financial challenges.
Governor Gretchen Whitmer underscores the direct impact on children and families, stating that the additional funds can be utilized for essential needs such as bills, food, and school supplies. Checks are slated to start going out on February 13, with potential rebates reaching up to $2,080 based on specific criteria.
Amid the disbursement of rebates, some recipients have mistaken the checks for junk mail, prompting experts to advise recipients to save receipts, potentially unlocking additional rebates of up to $3,000.
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