Per year. Scholarship is predominantly determined by parental income and number of siblings in college and is re-evaluated yearly (basically, what you get first year ends up being the very least that you'll get, from what Fin Aid has told us). The school is also phenomenal about working with you on understanding what you're signing up for. They require counseling with the Fin Aid office and semi-regular meetings to discuss your funding of med school. Starting in (I think) third year, they start prepping you for repayment and that process. NS-LIJ loan, like was said above, is given out to pretty much everyone. Max of 10k/year, 8 year grace period, and they're working on finalizing the terms of [what is supposed to be 100%] forgiveness if you choose to work within NS-LIJ post-residency (including if you leave to go to elsewhere for residency but return here to practice).