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Primary Care Loans INTEREST RATE: 0% in school and residency training, 5% in repayment FEES: none APPLICATION: Primary Care Loan Interest Form DESCRIPTION: The Primary Care Loan Program is regulated by the Department of Health & Human Services and administered by the school. It is designed for students who will commit to practicing primary care medicine. For this program, primary care is defined as: Family Medicine, You may practice primary care medicine ANYWHERE—this program is not to be confused with other programs that mandate that you practice primary care in a rural community in Arkansas. If you are willing to commit to primary care, this is the best loan available:
However, students should exercise caution before applying for this loan since the penalty for not practicing primary care medicine is quite severe. Students who accept the loan and later default on their obligation, must repay the loan at 18% interest. HOW TO APPLY: If you agree to the terms and conditions of the Primary Care Loan, sign and return the Primary Care Interest Form to the Student Financial Aid Office. Federal regulations require you to provide both the student and parent information on the FAFSA before you can be considered for this program. Approval of your request is dependent upon the availability of funds. Rural Practice program recipients will be given priority when awarding available resources, then seniors, juniors, sophomores, and freshmen, respectively. You will be notified if you are approved for a Primary Care Loan.
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