REPAYMENT
PROGRAMS
Loan Repayment Programs (LRP's) are programs sponsored
by national, state and local governments, and some private organizations, where
health care providers are recruited to practice in designated health
professional shortage areas.
Participants are provided with living stipends and
funds to repay educational and health care profession loans.
Most contracts require a 2 to 4 year commitment, but
individual program information should be consulted.
Benefits may also include tax relief, scholarship
opportunities and in the case of the military programs, enlistment as an
officer in the Armed Forces.
NATIONAL
MEDICAL, NURSING AND DENTAL LOAN REPAYMENT PROGRAMS:
National Health Services Corps
Working
with the Nation's underserved, fully trained health professionals will receive
a maximum of $25,000 per year towards repayment of educational loans if they
serve at an eligible site. Clinicians will also receive a competitive salary,
tax relief benefits and the chance to make a difference. Program excepts:
physicians (family medicine, general pediatrics, general internal medicine,
general psychiatry or obstetrics/gynecology), primary care nurse practitioners,
primary care physicians assistants, certified nurse-midwifes, dentists, dental hygienists and mental
health professionals. Two-year commitment required.
The Indian Health Service
Two
year contracts with priority given to nurses, nurse practitioners, mental
health professionals and physicians. Up to $20,000 per year awarded plus the
LRP will pay an additional 20% annually to the IRS to offset the increased tax
liability incurred by participant. Program available to those eligible to
practice in an approved IHS or other Indian Health Program priority site.
The National Institute of Health
The
NIH sponsors Loan Repayment Programs in AIDS, Clinical and General Research as well
as a General Research Fellowship for qualified physicians, nurses, and
scientists. Appointments vary from 2-3 years and pay a maximum of $35,000 per
year towards educational loans.
MILITARY
PROGRAMS:
US Air Force
Available
to medical school graduates enrolled in Air Force approved medical and
specialty programs. Assistance includes full scholarships with living expense
stipends and grants of approximately $18,700 for every year of participation.
Active duty service obligations vary in length after completion of intern and
resident programs. Residencies and fellowships are also available.
US Army Medical Corps
Special
Incentive and Pay Programs (scholarships, grants and tuition assistance)
available to physicians specializing in qualified programs. Includes programs
for active-duty, reservists and those seeking commission in the Medical Corps.
Active duty service obligations and loan repayment amount vary in length.
US Army Medical Education
Health
Professions Loan Repayment Program (HPLRP): Established to obtain and recruit
active duty health professionals in designated health care shortage areas.
Available to fully qualified health care professionals, full-time students in
final year of a program or trainees in approved specialty graduate programs.
Provides $22,000 annually for up to four years to repay qualified health care
educational loans. Requires participants to enlist for active duty for up to
four years.
US Army National Guard
The
Army National Guard will pay up to $10,000 on qualified existing loans. Program
does not specify undergraduate, graduate or health related educational loans or
active duty service obligations.
US Army Reserve
Program
available to commissioned officers in the Medical Corps or Army Nurse Corps.
After one year of satisfactory service, members are able to receive up to
$3,000 per year in educational loan repayments, not exceeding $20,000.
US Navy: Armed Forces Health
Professionals Scholarship Program
Naval
scholarship support available to those undergoing training in medical,
dentistry, optometry and osteopathy fields. Program includes monthly stipend
and financial assistance through annual grants of approximately $21,580. Active
duty services obligations vary in length. Links available to programming
information for numerous research institute and clerkship opportunities across
the country and aboard Naval vessels.
STATE
PROGRAMS
Various
states offer repayment programs so be sure to check your state department of
health services! They may also have
incentives during your education as well.