The state is offering psychiatrists up to $150,000 toward student loans if they commit to working for five years at the St. Lawrence Psychiatric Center or another state psychiatric center.

In the face of a projected shortfall in the state of as many as 2,650 psychiatrists by 2030, the state Office of Mental Health Wednesday announced that applications are being accepted for the Doctors Across New York (DANY) Psychiatrist Loan Repayment Program.

It will offer up to $150,000 in tax-free reimbursement for psychiatrists with active student loan debt who agree to serve at a New York State Office of Mental Health psychiatric center for at least five years.

“New York State has an obligation to attract and retain high-quality healthcare professionals, especially mental health professionals,” said New York State Office of Mental Health Commissioner Dr. Ann Sullivan.

With the projected shortfall, “we want to do everything in our power to prevent such a critical shortage,” Sullivan said.

“As a psychiatrist, I know all too well how overwhelming the cost to educate mental health professionals can be. We believe this loan repayment program is a powerful incentive to attract and retain high-quality psychiatrists throughout New York State,” she said.

The DANY program, a state-funded initiative by the Department of Health, was created in 2008 in response to the increasing physician shortage in New York State.

The Office of Mental Health (OMH) has now received approval for its own segment of the program dedicated to address the what the OMH is calling a psychiatrist recruitment and retention crisis.

OMH will be providing a total of $1.5 million in funding during the 2016-2017 fiscal year and will seek similar funding in future budgets, the announcement said.

The OMH Psychiatrist Loan Repayment Program will support psychiatrist recruitment and retention at facilities where the OMH Commissioner determines there is a critical need.

“Attracting high quality psychiatrists to New York’s underserved areas has become an important priority that will help us meet the behavioral health needs of all New Yorkers,” said New York State Department of Health Commissioner Dr. Howard Zucker. “A strong mental health workforce will also help us meet our goal to integrate behavioral healthcare with physical healthcare. We hope that psychiatrists who still have student loan debt will consider working in a state psychiatric center as a way to not only pay back their loan, but to gain invaluable experience in the field of behavioral health.”

Opportunities exist in OMH psychiatric centers throughout New York State. Applications, available at https://www.omh.ny.gov/omhweb/employment/loan-repayment.html, will be accepted electronically on a continual basis, the OMH says. They say physicians who are in a psychiatric residency program are encouraged to apply.