Are there any special rules for graduates attending medical school?

Yes, there are special rules for graduates attending medical school in North Carolina. The North Carolina Medical Care Commission offers loans to medical students who are North Carolina residents and who are enrolled in one of the state’s approved medical schools. These loans, known as the North Carolina Medical Student Loan Program (NCMSLP), are designed to provide students with the financial assistance they need to meet their educational expenses. The NCMSLP offers two types of loans: direct loans and private loans. Direct loans are administered by the North Carolina Higher Education Assistance Authority (NCHEAA) and are provided at a lower interest rate than private loans. Private loans are administered by private lenders, and interest rates will vary. In addition to providing loans to medical students, the NCMSLP also requires that the loans be repaid with a portion of the student’s post-graduate salary. This is known as the Income Contingent Repayment option, and it allows medical students to make affordable payments based on their income. Lastly, the NCMSLP also provides special forgiveness options to medical students who serve in rural and underserved areas of North Carolina. These students may be eligible for a loan forgiveness program that allows them to have a portion of their loan forgiven after a certain period of time. In conclusion, North Carolina offers special rules for graduates attending medical school. Through the NCMSLP, students can access low-interest loans, take advantage of the income-contingent repayment option, and may even be eligible for loan forgiveness.

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