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Tax Relief for Health Professions Scholarships and Loan Repayments

This act aims to make health professions more accessible by excluding certain education scholarships and loan repayments from taxable income. This means individuals pursuing healthcare careers, especially those serving in underserved areas, will face lower financial burdens, potentially encouraging more people to enter these fields and address healthcare shortages.
Key points
Money received from certain health profession loan repayment programs will not be counted as taxable income.
Specific health education scholarships will also be excluded from taxable income.
These changes apply to amounts received in tax years beginning after the act's enactment.
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Additional Information
Print number: 118_HR_10280
Sponsor: Rep. Tokuda, Jill N. [D-HI-2]
Process start date: 2024-12-03