interest rates and loan fees to eligible applicants.
(3) Predetermining the eligibility of applicants who
receive a loan from an offeror to attend an accredited
medical school or an approved institution of higher learning
that is insured by a guarantor.
(4) Evaluating the benefit package of a guarantor for
adequacy, accessibility and availability of funds necessary
to provide adequate loss prevention.
(5) Loan forgiveness.
* * *
(j) Loan forgiveness.--
(1) A person who receives a loan under this section
shall receive loan forgiveness to attend medical school, if
all of the following requirements are met:
(i) The person is enrolled in a residency program
located in this Commonwealth.
(ii) The person volunteers at least 100 hours of
service in the health care field each year in which loan
forgiveness is requested.
(2) Loan forgiveness under this subsection shall be
provided for in the following amounts:
(i) For year one, $10,000.
(ii) For year two, $20,000.
(iii) For year three, $30,000.
(iv) For year four, $40,000.
(v) For year five, $50,000.
(vi) For year six, $50,000.
(vii) For year seven, $50,000.
Section 2. This act shall take effect July 1, 2015, or
immediately, whichever is later.
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