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The Student Loan Debt Blog: A Blog About Student Loan Debt and Student Loan Consolidation

Student Loan Debt

A Blog About Student Loan Debt & Federal Student Loan Consolidation

Tuesday, November 01, 2005

National Institutes of Health Starts Taking Applications For Its Loan Repayment Program

The National Institutes of Health (NIH) has started a Loan Repayment program that repays up to $35,000 of student loan debt per year. Sounds super-generous, right? Well, as you might have guessed, it's a program reserved for highly qualified individuals, i.e. you've got to have a PhD, and you have to satisfy other very specific prerequisites to boot.

Details from a press release issued today are below:

"On Thursday, September 1, 2005, the National Institutes of Health (NIH) began accepting applications to its five Loan Repayment Programs (LRPs). Deadline for applications is December 1, 2005.

The five LRPs offered by the NIH include the Clinical Research LRP, Clinical Research LRP for Individuals from Disadvantaged Backgrounds, Contraception and Infertility Research LRP, Health Disparities LRP, and Pediatric Research LRP.

Through these programs, the NIH offers to repay up to $35,000 annually of the qualified educational debt of health professionals pursuing careers in biomedical and behavioral research. The programs also provide coverage for federal and state tax liabilities.

To qualify, applicants must possess a doctoral-level degree, devote 50 percent or more of their time (20 hours per week based upon a 40-hour work week) to research funded by a domestic non-profit organization or government entity (federal, state, or local), and have educational loan debt equal to or exceeding 20 percent of their institutional base salary. Applicants must also be U.S. citizens, permanent residents, or U.S. nationals to be eligible.

'The NIH Loan Repayment Programs offer an easy and effective way for research scientists to focus more on medical research and less on repaying student loans,' says Dr. Norka Ruiz Bravo, Deputy Director for Extramural Research. 'Since 2002, nearly 4,000 qualified health professionals have benefited from more than $225 million disbursed in loan repayment support. Through these programs, the NIH has opened doors for many young scientists to launch careers in research without the burden of student loan debt.'

All applications must be completed by 8 p.m. eastern time, December 1, 2005. Visit www.lrp.nih.gov to apply.

The Office of the Director, the central office at NIH, is responsible for setting policy for NIH, which includes 27 Institutes and Centers. This involves planning, managing, and coordinating the programs and activities of all NIH components. The Office of the Director also includes program offices which are responsible for stimulating specific areas of research throughout NIH. Additional information is available at http://www.nih.gov/icd/od/.

The National Institutes of Health (NIH) — The Nation’s Medical Research Agency — is a component of the U. S. Department of Health and Human Services. It is the primary Federal agency for conducting and supporting basic, clinical, and translational medical research, and it investigates the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit http://www.nih.gov."


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4 Comments:

Anonymous Nameserver said...

I think it is a great program, because it wil help out very much with debt. I mean i think you deserve it if you actually LEARNED while you were in collge, you deserve a break. If you slaked, well you knwo what, that is you problem. Unless there is another program to help you :) lol.

Wednesday, November 09, 2005 8:53:00 PM  
Blogger NJS said...

Thats a good program to for professionals so that they do not ave to worry about their debts. An excellent way to promote higher education. Govt. should focus on such education programmes and maybe India should also learn from it where illetracy is such a big issue.

Friday, November 25, 2005 9:50:00 AM  
Blogger Zack said...

I think it is great when the government helps out anybody with their education. Our tax money often goes to big corporations and other countries, so any help to the little man sounds good to me.

Saturday, November 26, 2005 4:53:00 PM  
Blogger Sparky said...

"Well, as you might have guessed, it's a program reserved for highly qualified individuals, i.e. you've got to have a PhD, and you have to satisfy other very specific prerequisites to boot."


Great! That means that anyone who has a high enough education to get a job that can pay off a loan of this amount, can get funding, and anyone who CAN'T afford to pay off the loan, can't! x_x

Saturday, November 26, 2005 5:49:00 PM  

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