The Westmoreland County Medical Society has a Medical Student Loan Program which offers loans to eligible medical students entering their 3rd or 4th year of medical school.
To be considered for the loan program, students must be attending an accredited school of medicine and they must be present or past residents of Westmoreland County.
The loan program was initiated with proceeds from a fund established by the Westmoreland County Medical Society with receipts from a polio immunization drive in 1964.
Over the years, the Fund has been supplemented by donations from the Westmoreland County Medical Society, interest income, charitable organizations, doctors and other individuals.
Several years ago, the name of the loan program was changed to reflect the support and devotion of a member of the Westmoreland County Medical Society Board of Directors, Dr. William S. Keck. For many years, he was the Treasurer and the person responsible for the Fund’s growth to what it is today.
Applications for the loan program are available through the Westmoreland County Medical Society or online here. The deadline for receipt of all applications and required supporting documentation is May 15 of each year. Applicants approved for a student loan are notified by mail early in July.
All medical student loans are for 6 years at a reasonable rate based on the Federal Funds Rate plus 1% as it appears in The Wall Street Journal on June 15 of each year the note is in effect. Each student is required to make an annual payment. The annual payment is interest only. Payment of principal will be due August 1, six years from the date the note was signed. You many pay the loan’s principal and applicable interest prior to its due date without penalty.