Loan Forgiveness Programs & Service Contracts

Loan Forgiveness Programs and Service Contracts are offered by various state agencies, organizations, hospitals, and others. There is no national listing available however students are encouraged to research the possibilities. The major ones are the National Health Service Corps Scholarship Program and the Armed Forces Health Professions Scholarship Program which are discussed in the section “Scholarship Information”.

Loan Forgiveness Programs and Service Contracts generally require a commitment from the student to practice in designated geographical locations for minimum time periods and may also include stipulations as to the type of practice specialty. In return, the programs may pay for tuition, books, supplies, equipment, health insurance, living stipends, or a combination of these expenses while the student is in school.

A student may also contact a hospital or organization directly and request this type of financial assistance. The VCOM Office of Financial Aid has sample contracts for hospitals or organizations that have no history or experience in this type of assistance.

Before entering into a Loan Forgiveness Program or Service Contract, a student should fully understand his/her promised commitment and be aware of all penalties for not honoring the commitment. The VCOM Office of Financial Aid is available for any questions a student may have about a program or contract being considered.