Medical Loan-For-Service
Applications will be
available in May 2009!
Purpose
The purpose of the Medical Loan-for-Service is to increase the number of
physicians in areas of the state which have experienced shortages of health
professionals by making educational loans to students entering medical school.
As a condition of each loan, the student shall declare his/her intent to
practice as a health professional in a designated
shortage area.
For every year of service, a portion of the loan will be forgiven. If the entire service agreement is fulfilled, 100%
of the loan is eligible for forgiveness.
Penalties may be assessed if the service agreement is not
satisfied.
How much is the
award?
- The award is
based on the financial need of the student
- The award may
not exceed $25,000 per year
- Award may be
renewable for up to four years if application is submitted each year
What are the
eligibility requirements?
- New Mexico
residents
- Be accepted
into the UNM School of Medicine
- Enroll at
least half-time
- Demonstrate
financial need
How do I apply?
|
Step 1
|
Complete the Free
Application for Federal Student Aid (FAFSA)
|
|
Step 2
|
Complete the Loan-for-Service
Application
|
|
Step 3
|
Request school
certification
|
|
Step 4
|
Send complete
application to New Mexico Higher Education Department
|
When is the deadline?
Applications must
be postmarked by July 1. Mail complete
application to:
New Mexico Higher Education
Department
Attn: Financial Aid Division
1068 Cerrillos Road
Santa Fe, NM 87505
