MEDICAL STUDENT LOANS

The Saginaw County Medical Society (SCMS) Foundation announces that applications for low interest loans to medical students with ties to the Saginaw area are available February 1.  The SCMS Foundation was founded in 1969 and funded through physician donation of earnings from educational and charity work.  Loan amounts range from $1,000 to $10,000, with some students receiving loans several years in a row.

No interest is charged while the student is in medical school, simple interest is charged at a rate of five (5) percent per annum during a residency program, and interest is charged at a rate of ten (10) percent per annum upon the completion of a residency program.  One-half (1/2) of the interest is forgiven if the individual sets up practice in Saginaw County.  The Board of the SCMS Foundation generally considers students who are past their first year of medical school.

Applications are available from the Saginaw County Medical Society, 350 St. Andrews Road, Suite 242, Saginaw, Michigan 48638.  The telephone number is (989) 790-3590 or e-mail at jmcramer@sbcglobal.net.  Deadline for applications is April 15, 2009.