How It Works

To be eligible for an award, student must:

• Be enrolled full-time at one of West Virginia’s three medical schools in a program leading to the degree of Doctor of Medicine (M.D.) or Doctor of Osteopathy (D.O.).
• Have not previously earned a M.D. or D.O. degree.
• Have financial need as determined by an institution’s financial aid office.
• Be a United States citizen or have legal immigrant status while pursuing United States citizenship.
• Be in good academic standing and be making satisfactory progress.
• Have financial circumstances that warrant continuation under the standards established by the institution.
• Not be in default of any previous student loans.

Priority is given to in-state residency in selection of loans and the number of loans given out by an institution are based on the availability of funding.

For detail about the service obligation, postponement and forgiveness requirements, click HERE.

Should a recipient no longer wish to pursue forgiveness at a qualifying practice, they would be required to repay the award. An interest rate of 5.0% is applied to the principal balance of awards and begins accruing from the date that the loan was received. The borrower shall be allowed a maximum of ten (10) years to repay the loan (principal and interest). The minimum payment shall be fifty dollars ($50) per month but shall be higher, if needed, to repay the loan within the required time period. Failure to repay the loan may result in your account being turned over to a collections agency.

Students who receive a Medical Student Loan award may also qualify for other financial incentives for practice in rural or underserved areas of West Virginia. In some cases, service obligations can be met concurrently. However, federal law prohibits concurrent service of a Medical Student Loan with some federal service obligations such as the National Health Service Corps programs. Check with other programs to see the requirements for concurrent service agreements.