W.R. Dancy, M.D. Student Loan Fund
Over the past 40 years, the MAG Foundation and the MAG Alliance have helped more than 60 medical students fulfill their dreams of becoming physicians with the W.R. Dancy, M.D. Student Loan Fund.
Dancy Loan Eligibility Requirements
Dancy Loan applicants must…
• Be a Georgia resident who has been accepted into or is attending an accredited medical school in the state
• Intend to practice medicine in Georgia once they graduate
• Demonstrate financial need
• Demonstrate an aptitude for medicine based on academic performance and standardized examinations (MCAT, transcripts, etc.)
• Submit two letters of recommendation
• Be a MAG member (total of $5 for four years)
The MAG Alliance and the MAG Foundation do not discriminate based on race, sex, religious beliefs, national origin or handicap.
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Dancy Loan Terms
The maximum amount of a Dancy Loan is $6,250 per student per year and $25,000 per student over four years. The amount of a loan will be determined by the Dancy Loan Fund Committee based on the funds that are available and the number of applicants that apply for the loan in a given year.
The Dancy Loan’s interest rate is two percent below the Federal Stafford Loan per year. The Dancy Loan begins to accrue interest and payments begin to become due one year following the recipient’s projected date of graduation and exceptions may apply.
The Dancy Loan Committee takes steps to confirm that recipients are enrolled in medical school on an ongoing basis.