Pediatrics

Loan Program

The Janet and Ray Scherr Fellowship Loan Repayment Endowment Program

The program provides loan assistance for fellows to help repay medical student debt and to encourage fellows to pursue a career in pediatric academic medicine. The candidate must exhibit documented loans and is selected based on merit and need by a committee of faculty members. All applicants are evaluated on a competitive basis depending on their potential for an academic career post-fellowship.

Loan Amount & Repayment

  • The loan amount is a maximum of $10,000 per fellow per year of fellowship.
  • The loan is interest free while not in repayment.
  • For every year after graduation that the individual remains on the faculty at UCLA Mattel Children's Hospital, a full year's repayment is forgiven. (For example, if the individual remains on as faculty for 2 years, then 2 years would be forgiven, etc.).
  • For every year after graduation the fellow remains in a full-time academic pediatric position elsewhere, fifty percent (50%) of one year's repayment is forgiven. The remaining 50% is payable according to the terms of the loan agreement.
  • The loan amount that is forgiven is subject to federal and state taxes.

If the trainee does not stay in academic medicine:

  • The entire amount must be repaid within three years of the date the amount financed becomes due and payable.
  • The due date and payable date is one year after completion of the fellowship or immediately if the fellow withdraws from the program or does not pursue a career in academic Pediatrics.

Criteria

  • Pediatric fellows with verifiable documentation for current loans are eligible to apply (including loans in deferment).
  • Applicants must apply annually for loans.

Application Materials

The annual deadline for applications is typically in September. Fellows must submit the following materials when applying:

  • Copy of entire fellowship application file (first time applicants only)
  • Cover letter written by candidate to include his/her statement and potential for academic post-fellowship
  • Letter of recommendation from fellowship Program Director
  • At least two additional letters of recommendation
  • Documentation of loan burden, e.g., with bank documents, etc.

 

Please let us know if you have any questions.