Scholarship Loan Fund

Scholarship Loan FundThe San Joaquin Medical Society (SJMS) is pleased to offer annually renewable educational loans for individuals accepted into U.S.-accredited programs leading to licensure as a Physician (MD. or DO.), Registered Nurse (RN), Nurse Practitioner (NP) or Physician Assistant (PA).

Residential Requirement

    Applicants must have resided for a meaningful period of their lives in one or more of San Joaquin Medical Society’s member counties—San Joaquin, Amador or Calaveras. This residential time period is defined as:

  • Having been a full-time, face-to-face, in-seat student for at least two consecutive years at the middle school, high school or postsecondary education level while living in one or more of the SJMS counties, or
  • Currently being a part-time or non-student who has been a resident of one or more of the SJMS counties for three continuous years or longer prior to applying for a loan.

    Application Timeline

    • Review of Fall Application Begins: May 1
    • Fall Interviews: May and June
    • Review of Spring Application Begins: November 1
    • Spring Interviews: November and December

    Program Eligibility

    Loans will be considered for U.S.-accredited programs leading to one of the following degrees, licenses  or certificates:

    • Doctor of Medicine (M.D.)
    • Doctor of Osteopathic Medicine (D.O.)
    • Registered Nurse (R.N.)
    • Nurse Practitioner (N.P.)
    • Physician Assistant (P.A.)

    Loan Amounts

    M.D./D.O. - $10,000 per year to a maximum of $40,000
    R.N./N.P./P.A. - $4,000 per year to a maximum of $8,000

    Reporting Notice

    The San Joaquin Medical Society Scholarship Loan Fund reports loan information to the Equifax credit reporting agency.

    Loan Terms
    Doctor of Medicine and Doctor of Osteopathic Medicine

    1. The loan is interest-free for the first five years of study.
    2.  Thereafter, until the end of postgraduate training, the student is required to make interest-only payments at the rate of prime plus 1% (determined annually on June 30th by the Federal Reserve). Enrollment in medical school, residency and fellowship programs must be uninterrupted and evidenced by proper documentation.
    3. After postgraduate training is completed, the student is required to make payments towards the principal, with an interest rate of prime plus 3% (determined annually on June 30th by the Federal Reserve) for a maximum of 60 months.
    4. The student may make payments to the loan or pay it off at any time, regardless of the repayment period.

    Registered Nurse, Nurse Practitioner and Physician Assistant

    1. The loan is interest-free during the course of study, which must be uninterrupted.
    2. The month after completion of the program, the student is required to begin payments towards the principal, with an interest rate of prime plus 3% (determined annually on June 30th by the Federal Reserve) for a maximum of 60 months.
    3. The student may make payments to the loan or pay it off at any time, regardless of the repayment period.

    Additional Requirements

    All loans require a co-applicant to guarantee repayment of the loan; the co-applicant is required to provide a current credit report. Students should provide a letter of acceptance from the medical school with their application, or for continuing students, their most recent transcript.

    To Apply

    *Please contact SJMS before completing your application to inquire as to the number of scholarships available. (209) 952-5299

    1. The loan application form is available at www.scholarshiploanfund.org
    2. Complete the form and return it via U.S. Mail or in person to: 

      San Joaquin Medical Society Scholarship Loan Fund 
      3031 W. March Lane, Suite 222W
      Stockton, CA 95219

    Physician Incentives

    Recognizing the tremendous need for physicians here in San Joaquin County, the Scholarship Loan Fund provides the following incentives to physician loan recipients who return to San Joaquin County to practice.

    1. During the time of practice in San Joaquin County, interest on the remaining balance will not accrue.
    2. The Scholarship Loan Fund will ensure first year membership dues to the San Joaquin Medical Society and the California Medical Association, organizations dedicated to promoting the care and well-being of patients and the betterment of the medical profession, as well as offering a variety of resources and benefits to its members.

    Scholarship Loan Fund Resources

    Scholarship Loan Fund Brochure

    Scholarship Loan Fund Facts

    Scholarship Loan Fund Application

    Scholarship Loan Fund Article

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