As you begin to get a feel for your specialty interests, examine service-based loan repayment programs. Primary care specialties, such as family medicine, afford you the opportunity to work in underserved areas in exchange for loan repayment. A listing of service-based loan repayment options are provided by the American Academy of Family Physicians, Association of American Medical Colleges, and U.S. government.
The Basics of Service-Based Loan Repayment Programs
American Academy of Family Physicians
-- This directory provides information on financial aid programs, scholarships, fellowships, grants, awards and other incentives to attract and retain health care personnel in locations defined as underserved areas.
American Association of Medical Colleges
-- The AAMC provides a directory of state loan repayment programs with service commitments. The programs listed are only a sampling of those available. See your financial aid advisor for more information.
National Center on Minority Health and Health Disparities
-- A loan repayment program is offered to develop research programs that reflect an understanding of the variety of issues and problems associated with disparities in health status. Eligible applicants include racial and ethnic minorities and other underrepresented individuals. There is a minimum two-year time commitment required.
National Health Service Corps (NHSC) Scholarships
-- Scholarships are offered to students dedicated to a career in primary care. After residency completion, you will choose a practice site that is in a federally designated health professional shortage area and is identified as having the greatest need. The period of service is one year for each year of scholarship support, with a two-year minimum commitment.
NHSC Ready Responders Program
-- Upon completion of residency, family medicine physicians are eligible to apply for this program to serve when national and regional emergencies occur. Loan repayment is available.
NHSC Loan Repayment Program
-- Fully-trained primary care health professionals are offered the opportunity to repay educational loans. According to NHSC, maximum repayment during the required initial two-year contract is $25,000 each year. You may be eligible to continue your loan repayment beyond two years, one year at a time to the extent you have unpaid qualifying educational loans and continue to serve at an eligible site. One-year amendments are awarded for a maximum of $35,000 per year.
Scholarships and Loans
Service-Based Loan Repayment Programs
