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Disadvantaged Health Professions Faculty Loan Repayment and Fellowship Program

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

Assistance considerations...

Length and Time Phasing of Assistance

Assistance is available during the time specified in the contract.

Formula and Matching Requirements

The Secretary will repay principal and interest of any educational loans at a rate of up to $20,000 per year for individuals from disadvantaged backgrounds who are students or graduates of health professions schools, and who have agreed to serve for at least 2 years as a faculty members of such schools. The school is required for each year of service to make payments of principal and interest, in an amount equal to the amount of payments made by the Secretary. These payments must be in addition to the pay the individuals otherwise would receive. However, the Secretary may waive this requirement if it is determined that it would impose an undue financial hardship on the school involved. A consideration for waiver will be based on documentation submitted by the school which must include financial statements to support hardship.

Note:
A formula may be based on population, per capita income, and other statistical factors. Applicants are informed whether there are any matching requirements to be met when participating in the cost of a project. In general, the matching share represents that portion of the project costs not borne by the Federal government. Attachment F of OMB Circular No. A-102 (Office of Management and Budget) sets forth the criteria and procedures for the evaluation of matching share requirements which may be cash or in-kind contributions made by State and local governments or other agencies, institutions, private organizations, or individuals to satisfy matching requirements of Federal grants or loans.

Cash contributions represent the grantees' cash outlay, including the outlay of money contributed to the grantee by other public agencies, institutions, private organizations, or individuals. When authorized by Federal regulation, Federal funds received from other grants may be considered as the grantees' cash contribution.

In-kind contributions represent the value of noncash contributions provided by the grantee, other public agencies and institutions, private organizations or individuals. In-kind contributions may consist of charges for real property and equipment, and value of goods and services directly benefiting and specifically identifiable to the grant program. When authorized by Federal legislation, property purchased with Federal funds may be considered as grantees' in-kind contribution.

Maintenance of effort (MOE) is a requirement contained in certain legislation, regulations, or administrative policies stating that a grantee must maintain a specified level of financial effort in a specific area in order to receive Federal grant funds, and that the Federal grant funds may be used only to supplement, not supplant, the level of grantee funds.