The rate is adjusted annually on July 1. Payment principle is deferred while in school. Interest accrues during periods of enrollment, however students are given an interest deferment option. Repayment of principle and accrued interest begins 6 months after termination of medical school attendance. This is a variable interest rate loan, which fluctuates quarterly and does not have a cap.
Interest begins to accrue immediately.
If you are interested in the current interest rate please stop by the financial aid office. Payment of interest and principal can be deferred while in school. Normally, the recipient serves one year on active duty for each year of scholarship, with a minimum of three years. James Zollar 5901 Beulah Rd. Normally the recipient serves one year in a federally designated under-serve area for each year of scholarship.