WILLIAMS ANNOUNCES AVAILABILITY OF MEDBEST LOAN

HARRISBURG, June 20, 2002 - - State Senator Connie Williams today announced the availability of MedBEST, a low-cost medical student loan.

The loan is available to students enrolled in an accredited medical college or an approved institution of higher learning in Pennsylvania who want to obtain a medical degree or graduate degree in biomedicine or life sciences.

The program is made possible by a one-time $5 million appropriation under the Tobacco Settlement Fund.

"The loan program is expected to strengthen Pennsylvania’s medical community," Williams (D-Montgomery/Delaware) said.

The MedBEST program also offers significant repayment benefits to encourage medical students to practice medicine or pursue research in the Commonwealth after graduation.

"MedBEST helps bridge the gap between tuition costs and statutory loan limits of federal loan programs," Williams said.

The need-based program also allows students to finance any portion of the current year’s certified expenses and past due balances once their Federal Stafford Loan Program eligibility is exhausted.

MedBEST brochures and applications can be obtained from the financial aid administrator at medical schools, online at www.pheaa.org or by calling Senator Williams’ office at (717) 787-5544.