Medical students may qualify to receive a Primary Care Loan if they agree to enter and complete a residency training program in primary health care. Below is a listing of examples of acceptable Primary Care residencies and practices:
ACCEPTABLE RESIDENCY TRAINING
Medicine/Osteopathic Medicine: Approved 3-year residencies:
ACCEPTABLE PRACTICE ACTIVITIES
UNACCEPTABLE RESIDENCY/PRACTICE ACTIVITIES
Deadline: Priority is given to complete applications received on or before priority deadline each year (February 10, 2017 for 2016-17).
Interest Rate: 5% - Interest does not begin to accrue until repayment begins.
Penalty Interest rate for non-compliant borrowers - Interest begins to accrue at the time of non-compliance : 7% for loans made on or after March 23, 2010 (2% above the compliant rate). 18% for loans made prior to March 20, 2010.
Does it have to be repaid? Yes
If yes, when? Repayment begins following a 12 month grace period after borrowers cease to be enrolled as a full-time student. Repayment can be deferred during the completion of an approved residency.
For loans received on or after March 23, 2010, the borrow must practice a compliant residency until the loan is paid in full or 10 years, whichever comes first. For loans received prior to March 23, 2010, the borrower must practice a compliant residency until the loan is paid in full. For more information, contact the Department of Student Financial Aid, (913) 588-5170 or email firstname.lastname@example.org