Loan Repayment Opportunities
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Montana State Loan Repayment Program
The Montana State Loan Repayment Program (SLRP) provides loan repayment funds for NP, PA, Certified Nurse Midwives, Dental and Mental Health Professionals working in Health Professional Shortage Areas.
The State Loan Repayment Programs has components similar to the federal NHSC loan repayment program, i.e. Providers must: Practice in a shortage designated area, accept Medicaid and Medicare, post a sliding fee schedule, and have qualified educational loans.
Providers Eligible:
· NP, PA, Certified Nurse Midwives, Dentist, Dental Hygienist, Mental Health Professionals including LCSW, Psychiatric Nurse Specialist, Marriage and Family Counselor, Health Service Psychologist, Licensed Professional Counselor
In exchange for 2 years of service
· Applicants can receive up to $15,000 per year for 2 years, with a third year option.
Note * Providers CANNOT receive Federal funds the same time as State Loan Repayment funds.
Please click here for an application. Funds must be expended and contracts signed by June 30, 2010, so don't wait to apply!
For more information on the Montana NHSC State Loan Repayment Program, please contact:
Lisa Benzel
Director, South Central Montana AHEC
10 W. Reeder · PO Box 872
Dillon, MT 59725
406.683.2790
lisa@mtha.org
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Montana Rural Physician Incentive Program (MRPIP)
The Montana Rural Physician Incentive Program was established to encourage primary care physicians to practice in medically underserved areas of rural Montana. This program assists in the recruitment and retention of primary care physicians by providing debt-repayment benefits for medical education to physicians who practice in areas of the state that are medically underserved and that demonstrate the need for assistance in physician recruitment and retention.
Program benefits allow payment of up to $100,000 in total toward the qualified educational loans of participating health professionals over a five year period of service in a location of need.
Eligible Providers:
· Qualified Medical Student Loans.
· Have MD or DO Degree and
· Be eligible for licensure in the State of Montana
In exchange for practicing in rural areas or medically underserved population of the state:
· $100,000 in total over a 5 year period (disbursed in 6 month increments)
$5,000— 6 mos. of service $10,000—36 mos. of service
$5,000—12 mos. of service $12,500—42 mos. of service
$7,500—18 mos. of service $12,500—48 mos. of service
$7,500—24 mos. of service $15,000—54 mos. of service
$10,000—30 mos. of service $15,000—60 mos. of service
For more information about MRPIP, please contact:
Laurie Tobol
Montana Rural Physician Incentive Program
PO Box 203201
Helena, MT 59620-3201
406.444.0322
ltobol@montana.edu
http://mus.edu/mrpip/
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National Health Service Corps
The National Health Service Corps (NHSC), through scholarship and loan repayment programs, helps Health Professional Shortage Areas (HPSAs) in the U.S. get the medical, dental and mental health providers they need to meet their desperate need for health care.
Since 1972, more than 30,000 clinicians have served in the Corps, expanding access to health services and improving the health of people who live in urban and rural areas where health care is scarce.
About half of all NHSC clinicians work in Health Resources and Services Administration (HRSA)-supported Health Centers, which deliver preventive and primary care services to patients regardless of their ability to pay. About 40 percent of Health Center patients have no health insurance.
Providers Eligible:
· U.S. Citizen/National
· Licensed Physicians, nurse practitioners, certified nurse-midwives, physician assistants, dentists, dental hygienists,
mental health providers
In exchange for two years of service in an NHSC approved Health Professional Shortage Area (HPSA)…
· $50,000 toward repayment of student loans (or outstanding balance, if it is less than $50,000)
· Potential for additional years of support
Half-Time Loan Repayment Program
Yes, clinicians working less than full time can participate in the National Health Service Corps Loan Repayment Program.
Clinicians participating in the NHSC Half-Time Loan Repayment Program receive $50,000 in exchange for the minimum 4-year service commitment and may be eligible for additional funding for extended service.
Visit NHSC Loan Repayment Website for more information
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Nursing Education Loan Repayment (NELRP)
NELRP is a competitive program that repays 60 percent of the qualifying nursing educational loan balance of Registered Nurses (RNs) selected for funding in exchange for 2 years of service at a critical shortage facility (CSF).
The purpose of the NELRP is to assist in the recruitment and retention of professional RNs dedicated to providing health care in facilities with a crucial shortage of nurses and to provide an opportunity for RNs to consider a career in such facilities.
Eligibility:
· Has received baccalaureate or associate degree in nursing
· Has current permanent unrestricted license as an RN in the State of which he/she intends to practice
In Exchange for two years of service in a critical shortage facility (CSF) designated area:
· 60% of loan balance paid
· 3rd year eligibility- receive an additional 25% of loan balance
For more information visit the Nursing Education Loan Repayment Program website.
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Faculty Loan Repayment Program (FLRP)
The Faculty Loan Repayment Program helps eligible health professions faculty from disadvantaged backgrounds to repay their student loans.
The FLRP provides as much as $20,000 a year to eligible faculty members who apply to and are selected to receive funding from the program in return for a 2-year service commitment. Participants should also receive matching funds from their employing educational institution. In addition, Faculty Loan Repayment Program participants receive a tax liability benefit.
Providers Eligible:
· From disadvantaged background
· Degree or enrollment in - Allopathic, Osteopathic, Podiatric, Veterinary Medicine; Public, Mental and Allied
Health; Pharmacy, Optometry, Dentistry, Nursing (RN ONLY)
In Exchange for a 2 year employment commitment for a full time and part time faculty position at an eligible Health Professions School:
· $20,000 per year
· Receive matching funds from their employing educational institution
For more information visit the Faculty Loan Repayment Program website.
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Indian Health Services Loan Repayment Program (IHSLRP)
The Indian Health Service Loan Repayment Program (IHSLRP) offers health care professionals the opportunity to lighten qualified student loan debts and help IHS meet the staffing needs of Indian health programs.
The goal of the program is to fill staff vacancies in Indian health programs, so the ranking system gives highest consideration to program staffing needs and shortages in specific health profession disciplines. It is open to health professionals who will commit to working in health facilities serving American Indians and Alaska Natives for a minimum two-year service obligation.
Eligibility:
· U.S. Citizen
· Degree in a Health Profession and have a valid State License
· IHS gives priority to American Indians and Alaska Natives
In exchange for 2 year service commitment to practice at an Indian Health Program Priority Site:
· $24,000 per year
· After initial 2 years, you may request an extension for additional $24,000 per year you serve until your loans are
repaid
For more information on Indian Health Services Loan Repayment Program, Please Contact:
Indian Health Service
Loan Repayment Program
1-301-443-3396
WEB: http://www.loanrepayment.ihs.gov/
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