The Virginia Loan Repayment Program

2008-11-24 13:53:24

( Financial )



Purpose of the Virginia Loan Repayment Program

The Virginia Loan Repayment Program aims to recruit and field qualified medical practitioners to areas of the state that are experiencing shortages of such medical services. The program finances the medical education of these practitioners while also filling in the need for their services.

This is unlike any VA mortgage loan which you repay gradually. As the practitioner, you pay the medical education loan of the Virginia Loan Repayment Program by serving in designated areas of the state, whether private or public.

The program pays up to twenty-five thousand dollars a year to cover the medical education of qualified participants. Minimum service length is two years, with maximum of fifty thousand dollars paid in the first year, and thirty-five thousand a year for extensions beyond the two-year period. You must also practice your profession on a full-time basis while you are on the program.

Who are Qualified under the Program?

The Virginia Loan Repayment Program is open to primary care physicians, nurses, psychiatrists, and physician assistants in the specialties of family care, pediatrics, women's health and ambulatory care. You must not have been currently employed under any state or federal institution. You are also eligible even if you have not started practicing your medical profession. You must also have been licensed to practice in Virginia, that is, you must have passed the state's medical board exam. You must also be able to show proof of US citizenship.

Requirements for Joining the Program

You need to complete an application and a loan payoff statement for any educational loans that need assistance under the program. You also need to sign a certification that you are not delinquent in any other debt or taxes.

You also have to apply for a qualified site to practice. Or if you are already in one, you need to show proof that of your employment.

You need to submit all requirements between January and May. The State Health Commissioner will approve or disapprove the application.

To find out more about the Virginia Loan Repayment Program, call the Virginia Department of Health or access its website.


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