Debt Repayment Conditions
Individuals will receive stipends directly and will be responsible for directing the loan repayment stipend to their lender. Recipients will be responsible for all taxes on the amount of loan repayment conferred.
As currently configured, recipients will receive three disbursements of $10,000 each. The first disbursement will be paid at the end of orientation (at approximately the end of the first month). The second and third disbursements will be paid at months five and nine of successful service.
For recipients receiving less than $30,000, the amount will be provided in three equal installments to the total value of the award. Applicants who do not complete the year will forfeit any eligibility for payments not yet received.