Contractually Binding Scholarships

[UIC Killa]

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What do you guys think of scholarships that require repayment via a contract to work for the scholarship provider or to go into some specific field (especially family practice) and practice in a specific area?....good idea...bad idea...depends on circumstance? Anybody took this route? (I know some do military, but besides that)

 

[Sarikate]

There's definitely major pros and cons to these. I am going through the same thing myself (should I apply for NHSC or not?).

The major pro, obviously: getting your entire medical education paid for. Can't really beat that. Another major pro: knowing you are going to be serving a population that really needs you, which is gratifying to lots of us. You also get some say in where you practice for those years, and there are a LOT of places to serve.

Cons: you're definitely going to be doing primary care for at least as many years as you take the scholarship, and if you back out, you have to pay 3x what you received (!!!).

If you're looking at NHSC, you should also look at their loan repayment programs. Not quite as much $$$ goes into your education, but at least that way you can decide after residency.

One of the DOs I know up here in Alaska did the NHSC in Nome and absolutely loved it; he even stayed on an extra year at the hospital. He was a family practice physician but worked in the ER and other "specialty" areas because there were so few docs up there. But you really have to know that's what you want to do, because there's no going back!

 

[dr.z]

Unless you are absolutely sure you want to complete their side of the contract, stay away. Were you sure about where you would end up now, when you thought about it 5 years ago? Are you confident that your current thoughts (e.g. to go into Family Practice) will hold 5 years from now? On the other hand, if you're sure about fulfilling the contract then it's a great way to have someone else pay for you.

I agree. You have to be absolutely sure that you won't change your mind while you are in med school.

 

[Doc2007]

Can you sign up for it after you graduate?

 

[Sarikate]

If you sign up after residency, they'll do a loan repayment (something like $20,000 per year that you serve for them). Not as much as you would get if you did the scholarship, but not too shabby either.

 

[emeddo]

Not to discourage anyone from applying to NHSC, but don't get sucked in by your FA officer selling it as a cure all for medical school debt. They only gave out about 100 awards last year on a national level (that includes ones for other fields like dentistry) so in other words they aren't that east to get. Needless to say if you are very committed to their program go for it, but with only 100 people getting awards a year they can not give it to anyone who even shows a inkling of a doubt about what they are committed to.

 

[lysosome]

where else are folks looking to find scholarships? there seems to be limited scholarships offering for med students/grad students compared those who wishes to pursue an undergraduate education.