What kinds of loan repayment options are available?

Financing a medical education is an ambitious proposition–especially if you are considering a career as a surgeon. In addition to four years of college, you are financing four years of medical school, and during residency you will begin to earn a salary that is generally adequate to cover your living expenses. However, you will probably not be able to make much progress in repaying most of the money borrowed to finance your previous education until you actually begin medical practice. While the American College of Surgeons does offer research scholarships, fellowships, and awards, they are limited to surgeons who have completed their residencies or are in the process of doing so.

You may already know that the United States Department of Education provides assistance in finding sources for financing a medical education, but it also provides assistance in finding ways of repaying loans. In addition, the Association of American Medical Colleges offers information about state and other loan repayment/forgiveness and scholarship programs, as well as its MEDLOAN program.