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UAMS College of Medicine – Information for Graduating Students

CHECKLIST FOR GRADUATING STUDENTS WITH STUDENT LOANS

Now that you are leaving UAMS, you need to make important decisions on how to repay your federal student loan(s). The information below will help you begin the repayment process.

PUBLIC SERVICES LOAN FORGIVENESS PROGRAM

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In 2007, Congress created the Public Service Loan Forgiveness Program to encourage individuals to enter and continue to work full time in public service jobs. Under this program, you may qualify for forgiveness of the remaining balance due on your eligible federal student loans after you have made 120 payments on those loans under certain repayment plans while employed full time by certain public service employers. Since you must make 120 monthly payments on your eligible federal student loans after October 1, 2007 before you qualify for the loan forgiveness, the first cancellations of loan balances will not be granted until October 2017.

RESIDENCY & RELOCATION LOAN

Available to 4th year College of Medicine students only, this loan is designed to help with costs associated with residency and relocation expenses.  This loan does not count as part of your financial aid package.

The Residency and Relocation Loan is a private loan for students in the final year of medical school. The Residency and Relocation Loan can help with expenses associated with finding a residency, including travel to interviews and relocation costs, which are not covered by federal student loan programs.

Please note that the interest rate and fees charged are based on the applicants’ credit score. If you do not have an established credit history, you may want to apply with a qualified co-signer to increase your chances for approval and potentially receive a lower interest rate.

If you have specific questions about any of the processes mentioned in this section or whether certain provisions apply to you, you should contact your loan servicer or UAMS Student Financial Services.

  • To find out who is servicing your federal student loans and how much student loan debt you currently have visit: http://www.nslds.ed.gov/nslds_SA/  
  • To request one-on-one financial counseling here on the UAMS campus, contact Gloria Kemp kempgloriad@uams.edu or call 501-686-6936 for an appointment.

FIRST for MEDICAL EDUCATION

by AAMC Association of American Medical Colleges

FIRST (Financial Information, Resources, Services, And Tools) Facts are short, informational sheets on a variety of financial aid related topics. Facts are designed to reduce often confusing or complex topics to the basics. For more information regarding FIRST Facts topics email first@aamc.org

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FIRST FACT SHEETS

The following documents are all in PDF format.

FIRST RESOURCES

College of Medicine’s Liaison for Financial Aid

Gloria Kemp, Director of Student Financial Services.  Please contact Gloria for questions concerning eligibility, award amounts, disbursement dates, financial counseling, etc.
 
Contact information:  Phone: 501-686-6936       Email: kempgloriad@uams.edu
http://studentfinancialservices.uams.edu/

 

Based on University of Pennsylvania – Perelman School of Medicine