Mattel Children’s Hospital UCLA
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 Mattel Children’s Hospital UCLA,
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.
- Pediatric fellows with verifiable documentation for current loans are eligible to apply (including loans in deferment).
- Applicants must apply annually for loans.
The annual deadline for applications is typically in September. Fellows must submit the following materials
- Copy of entire fellowship application file (first time applicants
- 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.