Primary Care
Loan Forgiveness

 and

Scholarship Programs

for

New York Medical College

Students and Residents

 

 

 

 

 

 

Office of Undergraduate Medical Education

and Primary Care

and

Office of Student Financial Planning

New York Medical College

Valhalla, New York 10595

(914) 594-4491

 

January 2005


 

 

 

 

Primary Care Loan Forgiveness and Scholarship Programs

 

 

Index

 

 

Programs for Students

 

National Health Service Corps Scholarship Program.................................... 1

 

New York State Regents Health Care Scholarship Program......................... 2

 

New York Medical College Primary Care Loan Program................................ 3

 

 

 

Programs for Residents/Practitioners

 

National Health Service Corps Loan Repayment Program............................ 4

 

Disadvantaged Health Professions Faculty Loan Repayment....................... 5

 

New York State Regents Physician Loan Forgiveness Program..................... 6

 

 

 

 

 

 

 

 

 

 

 

Unless stated otherwise, primary care refers to the specialties of general internal medicine, general pediatrics, family practice or combined general medicine and pediatrics.

 

 

 


 

 

 

 

 

 

 

 

 

 

 

Primary Care

Loan Forgiveness

and

 Scholarship Programs

for

Medical Students


 

 

NATIONAL HEALTH SERVICE CORPS

SCHOLARSHIP PROGRAM

 

PURPOSE

To provide scholarships for education in the health professions to individuals willing to work in federally-designated Health Professional Shortage Areas (HPSAs).

 

FUNDING SOURCE

Federal based award – National Health Service Corps

 

AMOUNT OF AWARD(S)

Applicants who are selected to participate receive payment of tuition and fees, books, supplies, and equipment for up to 4 years of education and a monthly stipend.  Tuition, fees, and other reasonable educational costs are not taxed.

 

APPROXIMATE # OF AWARDS

An NHSC Scholarship award is contingent upon availability of funds.

 

ELIGIBILITY CRITERIA

The NHSC Scholarship Program is open to full-time students enrolled or attending fully accredited U.S.:

1.     Allopathic or Osteopathic medical schools, MD/DO scholars are expected to complete residency programs in one of the following:  Family Medicine, General Pediatrics, General Internal Medicine, Psychiatry; Rotating Internship (for D.O.s only) with request to complete training in one of the specialties above.

2.     Family nurse practitioner programs (master’s degree in nursing, post-master’s or post baccalaureate certificate).

3.     Nurse-midwifery programs (master’s degree in nursing, post-master’s or post-baccalaureate.

SERVICE COMMITMENT

For each year or partial year of support you receive, you will be required to serve 1 year in an approved practice site, located in a federally designated health professional shortage area of greatest need.  There is a minimum service commitment of 2 years, which must begin upon completion of your health professions training or primary care residency.

 

APPLICATION PROCESS

Submit application by March 25, 2005.

CONTACT

Health Resources and Services Administration
Bureau of Health Professions
Division of National Health Service Corps
5600 Fishers Lane
, Room 8A-55
Rockville, Maryland 20857

Phone:  1-800-221-9393

Web: http://nhsc.bhpr.hrsa.gov/applications/

 

 

1


 

 

NEW YORK STATE

REGENTS HEALTH CARE SCHOLARSHIP PROGRAM

 

 

PURPOSE

 

To provide scholarships for education in the medical and dental professions to minority and economically disadvantaged individuals.

 

 

FUNDING SOURCE

 

State appropriation.

 

 

AMOUNT OF AWARD(S)

 

$10,000 per year, for up to 4 years.

 

 

APPROXIMATE # OF AWARDS

 

100 per year (approximately 80 in medicine, 20 in dentistry)

 

 

ELIGIBILITY CRITERIA

 

An applicant must:

·         be a U.S. citizen or permanent resident;

·         be a legal resident of New York State for one year preceding effective date of award;

·         be enrolled in medical or dental school.  Preference given to minorities and economically disadvantaged.

 

 

SERVICE COMMITMENT

 

Award recipients must agree to work in a regents-designated physician shortage area for 12 months for each award, for a minimum of 24 months.

 

 

APPLICATION PROCESS

Check website, not yet updated for 2005

 

 

CONTACT

 

State Education Department

Scholarship Processing Unit

Room 1078 EBA

Albany, NY  12234

 

Phone:  (518) 486-1319

Fax:      (518) 486-5346

Email:   www.highered.nysed.gov/kiap/scholarships/rhc.htm

 

 

 

 

 

 

 

 

2

 

NEW YORK MEDICAL COLLEGE

PRIMARY CARE LOAN PROGRAM

 

PURPOSE

To reduce the financial disincentives facing students who want to be generalists or preventive medicine physicians.  In addition, the loan program provides incentives to medical schools to produce more primary care physicians.

 

FUNDING SOURCE

Federal funds; current health profession student revolving loan fund.

 

AMOUNT OF AWARD(S)

Varies from $500 to a maximum of $2,500 over the cost of medical school.

 

Penalty – If the student reneges on the contract, the interest will rise from 5% to 18% retroactively.  In addition, the school could be penalized if the graduating class does not meet the fifty percent graduation rate in primary care.  The medical school could lose up to thirty percent of the revolving loan fund.

 

APPROXIMATE # OF AWARDS

Varies from year to year.

 

ELIGIBILITY CRITERIA

Schools can make loans only to medical students who agree to enter and complete a residency within four years in either family practice, osteopathic general practice, general internal medicine, general pediatrics or preventive medicine and to practice primary health care until the loan is repaid.  Awards will be announced following match day and funds will be used to reduce high-interest bearing loans.

 

SERVICE COMMITMENT

Enter and complete a residency within four years in either family practice, osteopathic general practice, general internal medicine, general pediatrics or preventive medicine and practice primary health care until the loan is repaid.

 

APPLICATION PROCESS

Student must have applied for financial aid through the established procedures at New York Medical College.

 

CONTACT

New York Medical College

Student Financial Planning Office

 

Phone:  (914) 594-4491

 

 

 

 

 

3
 

 

 

 

 

 

 

 

 

Primary Care

 

Loan Forgiveness Programs

 

for

 

Residents/Practitioners


 

 

 

NATIONAL HEALTH SERVICE CORPS

LOAN REPAYMENT PROGRAM

 

PURPOSE

To place primary care providers in health professional shortage areas (HPSAs).

 

FUNDING SOURCE

Federal based award – National Health Service Corps

 

AMOUNT OF AWARD(S)

Up to $50,000 for a 2-year commitment, based on the participant’s qualifying educational loans. 

Up to $35,000 for 3rd year and up to $35,000 for 4th year.

Plus -- an additional 39% tax assistance payment.

Plus -- a competitive salary and benefit package.

 

APPROXIMATE # OF AWARDS

An NHSC LRP contract award is contingent upon availability of funds.

 

ELIGIBILITY CRITERIA

The NHSC Loan Repayment Program is open to U.S. citizens who have a valid, unrestricted state license and/or certificate to practice as one of the following types of healthcare professionals:

1. Allopathic or Osteopathic Primary Care Physicians; 2. Primary Care Certified Nurse Practitioners; 3. Certified Nurse-Midwives; 4. Primary Care Physician Assistants; 5. General Practice Dentists; 6. Registered Clinical Dental Hygienists;      7. Clinical or Counseling Psychologists; 8. Clinical Social Workers; 9. Psychiatric Nurse Specialists; 10. Licensed Professional Counselor.

SERVICE COMMITMENT

You must agree to provide primary care services in a priority health professional shortage area for a minimum of 2 years.  You may apply to extend the obligation beyond 2 years for 1 year at a time. (There is a maximum of 4 years of service.)

APPLICATION PROCESS

You should call 6 months to a year prior to your availability.  You must have a contract or a letter of intent from an approved loan repayment site to be eligible to submit an application for loan repayment. 

CONTACT

Division of the National Health
Service Corps
Bureau of Health Professions
Health Resources and Services Administration
Department of Health and Human Services
5600 Fishers Lane, Room 8A-55
Rockville, MD 20857
Telephone: (301) 594-4400
Toll Free 1-800-638-0824Web:  http://www.bhpr.hrsa.gov

v           Click on National Health Services Corp;

v           Then click on Application; then Loan Repayment App Info Bulletin

4

 

DISADVANTAGED HEALTH PROFESSIONS

FACULTY LOAN REPAYMENT

 

PURPOSE

To provide financial assistance in repayment of educational loans to health professionals from disadvantaged backgrounds serving as members of faculty at accredited health professions schools.

 

FUNDING SOURCE

Federal appropriation

 

AMOUNT OF AWARD(S)

As much as $20,000 of the outstanding principal and interest on the individual’s educational loans for a minimum of 2 years service.

 

APPROXIMATE # OF AWARDS

25 – 30 annually.

 

ELIGIBILITY CRITERIA

Entry to the Program requires that the individual must:

·         be in the final year of a residency program or faculty;

·         be from a disadvantaged background or come from a family with an annual income below a level based on low income thresholds;

·         have a contract to serve on the faculty of an accredited school of medicine.

 

SERVICE COMMITMENT

Serve as a full-time faculty member for the 2 year period agreed.

 

APPLICATION PROCESS

Applications will be available March 2005.  Deadline for application – May 31, 2005, check website for applications.

 

CONTACT

Faculty Loan Repayment Program

Parklawn Building, Room 8-34

5600 Fishers Lane

Rockville, MD  20857

 

Phone:  888-275-4772

Fax:      301-443-0846

 

Website:  http://bhpr.hrsa.gov/dsa/flrp/

 

 

You must visit the web-site to download forms and update information.

 

 

 

 

 

5
 

 

NEW YORK STATE

REGENTS PHYSICIAN LOAN FORGIVENESS PROGRAM

 

 

PURPOSE

 

To provide financial assistance in repayment of educational loans to primary care physicians working in state-designated shortage areas.

 

FUNDING SOURCE

 

State Appropriations (State Education Department).

 

AMOUNT OF AWARD(S)

 

$10,000 per year for 2 years, renewable for a second 2 years.  Awards cannot exceed eligible debt, which includes outstanding health professional educational loans, both government and commercial.

 

APPROXIMATE # OF AWARDS

 

Approximately 80 new awards annually.

 

ELIGIBILITY CRITERIA

 

Applicant must:

·         be a U.S. citizen or permanent resident;

·         be licensed to practice medicine in NYS;

·         have completed within the prior 5 years OR be in the last 2 years of a residency program in:

-        family practice,

-        pediatrics,

-        internal medicine,

-        obstetrics,

-        Psychiatry.

 

SERVICE COMMITMENT

 

Practice in a NYS Regents-designated loan forgiveness area or facility for two years for each award, with a maximum of four years.

 

APPLICATION PROCESS

 

Check website, not yet updated for 2005

 

CONTACT

 

NYS Education Department

Scholarship Processing Unit

Room 1078 – EBA

Albany, NY  12234

 

Phone:  518-486-1319

Fax:      518-486-5346

Website:  http://ohe32.nysed.gov/kiap/