Physician Loan Forgiveness Award Program

The regents physician loan forgiveness award program is a program where physicians are given an annual award up to about usd 10,000 against their student loan. The physician in return has to work for certain period of time in an under served area identified by the New York State.

The Regents Physician Loan Forgiveness Award Program is targeted to increase the number of physicians practicing in areas of New York State designated by the New York State Board of Regents as having a shortage of physicians. Primary care is what is emphasized more in such awards. Pending the appropriation of State funds during the yearly session of the New York State legislature, at least 80 awards up to $10,000 per year for two years are offered. Award amount is based on undergraduate and medical school student loan amounts, loan interest expense, and income. Applications and information are available from the Office of K-16 Initiatives and Access Programs, Scholarships and Grants Administration Unit by February of the competition year.

ELIGIBILITY CRITERIA

Eligible applicants must:

* be United States citizens, permanent residents, or selected refugees approved by the Attorney General of the United States;

* be residents of New York State;

* be licensed to practice medicine in New York State; and

* be within two years of completing an accredited residency program in primary care or have completed a professional residency program within the five years immediately preceding the period for which the first award would be granted.


SELECTION CRITERIA
FIRST PRIORITY will be given to applicants who are completing the second year of the service agreement and are reapplying for an additional two-year award.
SECOND PRIORITY will be given to new applicants who agree to practice in an area determined by the Regents to have a severe shortage of primary care physician services.

SERVICE AGREEMENT:

Award recipients must agree to practice medicine in a specific area in New York State or serve a specific under served population designated by the New York State Board of Regents as having a shortage of physicians for a period of 12 months for each annual payment received. They must serve a minimum of 24 months regardless of the amount of payment received.

To obtain additional information and individual applications for these scholarships, you can also visit our web site at: http://www.highered.nysed.gov/kiap/scholarships/home.htm .