VSAC transferred the servicing of your Federal Student loans to American Education Services and the guarantee of all VSAC Federal Student loans to the Trellis Company, an approved Federal Guaranty Agency, over the weekend of March 16th. CLICK HERE for more information.
Pursue a career in dentistry
An interest-free, forgivable loan which pays up to $50,000 annually
A program to increase the number of dentists in Vermont
Funded by the Vermont Legislature, the Vermont State Dentist Incentive Loan Program awards up to $50,000 annually for qualified recipients enrolled in their second, third or fourth year of a dental program.
Funding is awarded to qualifying applicants on a first-come, first-served basis until all funds have been depleted.
Recipients are awarded in the form of an interest-free loan which is forgiven when the recipient signs a promissory note and has completed the following work obligations:
- Agree to work as a dentist in Vermont for a minimum of one year following licensure for each year of assistance received. Employment must average no less than 20 hours/week; recipients are expected to accept patients with coverage under Medicaid or other state-funded health care benefit programs.
WHO IS ELIGIBLE?
- Vermont residents
- A current graduate student who has completed the first year and is entering their second, third or fourth year of a dental program
- Enroll full time in an accredited dental school approved for federal Title IV funding (Pell grants, federal Direct loans)
- Intend to work as a dentist in Vermont for a minimum of one year following licensure
- Demonstrate financial need
- Demonstrate academic achievement
HOW MUCH IS THE AWARD?
Up to $50,000 annually for qualified recipients enrolled in their second, third or fourth year of a dental program.
HOW DO I APPLY?
- For detailed information about the forgivable loan and the application process, review the Scholarships for Vermonters booklet.
- Complete the Unified Scholarship Application online through your MyVSAC account, click on Work with VSAC-Assisted Scholarships, look for “Submit Application” and “Unified Scholarship Application (USA)” and follow the instructions.
WHEN SHOULD I APPLY?
- Applications become available October 1 and should be submitted by the deadline listed in the Scholarships for Vermonters booklet.
WHAT IS AN INTEREST-FREE FORGIVABLE LOAN?
The state of Vermont offers several forgivable loan programs to encourage students to enter the Vermont workforce in specific high-demand fields. These unique loans:
- Are interest-free
- Require awarded students to sign a promissory note committing to specific work obligations when they accept the funding
- Do not require payment while the student is enrolled in the applicable degree or training program
- Are “forgiven” — which means that the loan does not have to be paid back — when the student meets the work obligations outlined in the promissory note they signed
- Must be repaid if the student doesn't complete the program, doesn't receive their license, or doesn't work in the field in Vermont following licensure
For example: Mary received $16,000 in a dentistry forgivable loan program to study dentistry at UVM for her senior year. Upon completion of the program, Mary took her dental exams, received her license and began working as a dentist in Vermont. One year later her employment was verified, and the loan was forgiven!
QUESTIONS:
- about your application or status? Contact VSAC or call 888-253-4819.