Physicians in Texas can receive up to $160,000 for the repayment of medical school loan debt through a state program that received a significant increase in funding earlier this year. To be eligible, physicians need to apply by Nov. 30, 2013 and agree to provide four consecutive years of service in a federally designated Health Professional Shortage Area.
In order to participate in the program, applicants must be eligible to take the exam for board certification in one of the following primary care specialties:
- Family Medicine/Family Practice
- General Practice
- Obstetrics/Gynecology
- General Internal Medicine
- Medicine-Pediatrics
- General Pediatrics
- Psychiatry
- Geriatrics
Participating physicians would agree to practice for four years and provide direct patient care to Medicaid enrollees and CHIP enrollees if the practice includes children. In turn, participating physicians would be eligible for up to $160,000 in loan repayments in graduated annual amounts up to:
- $25,000 for the first year
- $35,000 for the second year
- $45,000 for the third year
- $55,000 for the fourth year
The 83rd Texas Legislature approved a budget of $33.8 million for the program, up from just $5.7 million in 2012-2013. This 500% increase in funding has dramatically increased the number of spots available.
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