There are many options for people that are striving to have a career in medicine. Costs associated with a PhD program can cost as much as $200,000 dollars. For the everyday person this is an insane dollar figure. For many Doctors that are in hospitals, or regular primary care office, they have these costs compiled into student loans. This could mean an average monthly payment of nearly $2,400 dollars per month. The expectation of these costs can be almost enough to deter someone from entering the field. However, there are ways to receive help in programs that are much like what is offered teachers. There is a bill that has helped public servants, teachers and doctors, pay off their student loans, and begin to capitalize on their income based on their education.
Title I grants have allowed many new graduates work in low income areas for a certain amount of time, and qualify for government subsistence with their education loans. An area that qualifies a low income would an area that has a certain range of socio-economic status, or a certain rate of crime. The hospitals that are ranked Title I pay less than other hospitals, but the trade off is that you are usually working in a facility with other bright minds, with good equipment, and this can usually be done immediately after your residency is completed. This means that if you were to take advantage of your Title I opportunity, you could have completed your qualifying time limit only 24 months post graduation. For many medical students this a chance of a lifetime.
The Title I grant usually requires a 24-36 month contract, and the entitlement after completion for Doctors is nearly half of the unsubsidized or Staffard loans forgiven. That cuts that $2,400 dollar payment to a manageable $1, 200 dollar payment, and that is for 10 years.