What is my financial obligation for the WWAMI Program?
The loan obligation for a WWAMI student is equal to 50% of the annual support fee paid by the state, plus interest. Since there is no support fee paid for the first year of the WWAMI program, students will not be required to repay any obligation for that year. By signing the WWAMI Medical Education Loan Program MPN, participants will have a repayment obligation for their second, third and fourth years of medical school support fees. An annual Notification of Award letter will be sent to participants advising them of the amount of their financial obligation for the related program year.
Is there forgiveness on a WWAMI participant's loan?
A student who successfully completes the WWAMI program and is employed within Alaska in a qualifying professional medical practice may be eligible for forgiveness on their WWAMI loan. Individuals that are completing their residency program in the state may also be eligible for forgiveness. WWAMI loans are eligible to have the outstanding principal and accrued interest forgiven and considered a grant in accordance with the following percentages:
A. for employment in rural areas of the state, up to three years of employment, 33.33% for each year;
B. for employment in areas of the state that do not qualify under the program definition as rural, up to five years of employment, 20% for each year
Participants must contact ACPE once they are working full-time as a physician in Alaska. ACPE will provide the necessary forms to document the periods of employment that qualify the student for forgiveness.
For More Information, see WWAMI Frequently Asked Questions