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Loan Repayment Program

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jbod34

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Anyone out there know how to find sites that offer loan repayment in return for serving in an underserved area? Can an ER doc do this in IM?
Thanks,
 

LuvbugMD

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There are many different loan repayment programs that pay between $25K-$35K/per year of service dedicated to underserved communities. Unfortunately, you must be a "primary care" physician (i.e. IM, Peds, Ob/Gyn, Psychiatrist) to be eligible for the programs. Despite our broken health care system which causes millions of people to be forced to receive primary care health services in our nation's EDs, emergency medicine IS NOT considered a primary care specialty. Therefore, EPs are not eligible for these programs. However, there are different programs, such as the NIH loan repayment programs, that repay loans for conducting research. These programs are open to all specialties and you can conduct the research at any US institution.

Your question about an EP working in an IM setting is an interesting one. I have not heard of anyone doing this yet. However, why would an EP want to spend 2-3 years doing IM? Just to reduce loan debt...?
 

southerndoc

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I received a partial scholarship for medical school as well as a commitment to repay my loans if I return to my hometown hospital. This was arranged prior to going to medical school. It was also a hospital where I worked as a paramedic and where I knew the administrators fairly well.
 

k's mom

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LuvbugMD said:
There are many different loan repayment programs that pay between $25K-$35K/per year of service dedicated to underserved communities. Unfortunately, you must be a "primary care" physician (i.e. IM, Peds, Ob/Gyn, Psychiatrist) to be eligible for the programs. Despite our broken health care system which causes millions of people to be forced to receive primary care health services in our nation's EDs, emergency medicine IS NOT considered a primary care specialty. Therefore, EPs are not eligible for these programs. However, there are different programs, such as the NIH loan repayment programs, that repay loans for conducting research. These programs are open to all specialties and you can conduct the research at any US institution.

Your question about an EP working in an IM setting is an interesting one. I have not heard of anyone doing this yet. However, why would an EP want to spend 2-3 years doing IM? Just to reduce loan debt...?

Not exactly true....yes, EM physicians are NOT considered primary care, but some states/local governments with extreme shortage of rural physicians and nurses to cover clinics will provide loan repayment. These programs are usually found on individual state websites under health and human services or some such designation. A few states will have links to different communities or private contracting firms who offer such "deals". HOwever, I'm sure it is really hit or miss, depending on state funding of such programs, and, as I understand, you can kiss the plum of ED work (SHIFT WORK!!) goodbye, especially if you are the only physician in a given area.
 

beriberi

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I don't understand why someone would take a position paying 150K a year with 25K in loan repayment over a position paying 200k per year.

It seems to me, if you are willing to sell you soul and go anywhere in the country, there are highly undesirable places that will pay bank for an EM doc.

The variation in salaries (225K +/- 75k +/- benefits) is much greater than any loan repayment program I have heard of. If you choose solely based on money, you might make more as an independent contractor with minimal benefits that you would someplace with loan repayment (let's not even discuss the issue of tinkering with anti hypertensives all day long). Without the 25-35k per year, you will make enough money to pay off your loans. Take instead the offer of 42K per year towards retirement. Eventually your loans wil go away (maybe when you are 60, but eventually). However, not everyone has enough money to retire on.
 
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