About Nishtar
Description of the Program
- Nishtar Alumni of North America is a registered charity organization in the state of West Virginia under 501C status
- NALP is an endowment fund which was established on 01/27/2020 to provide the financial assistance to those needy medical graduates from Nishtar Medical University who want to pursue postgraduate medical education and training in United States of America
- Loan money provided under this project will be non-interest-bearing loan for a limited period of time and the money will be 100% returnable to the account of Nishtar Alumni of North America (NANA) before the due date as mentioned on loan agreement contract
- Loan money shall be exclusively spent on direct expenses related to the United States Medical Licensure Examination (USMLE) and the National Residency Matching Program (NRMP)
- The decision to issue the loan to any applicant will be made after reviewing application and other required documents by NALP committee
- Loan money will be issued in installments
- Anyone can refer the loan applicant
- Loan amount for each applicant will be decided by NALP committee based on the applicant’s needs and subject to availability of funds
- Maximum loaned amount to one applicant will be $5000
- Recipient must provide previous documentation of fee submission to education commission for foreign medical graduates (ECFMG) or NRMP before disbursement of next loan installments
- Complete loan repayment shall be made within the first 2 years of disbursement in lump-sum amount or in installments
- Loan defaults and Late payment penalties will apply in case of breaking legal binding contract between NANA and recipient
- In the circumstances of breaking legal contract on part of recipient, Nishtar Alumni of North America(NANA) reserves complete rights to pursue the legal action against the recipient to recover the loan money along with interest in which case, the recipient shall also be responsible for all legal fee spent by NANA to resolve this issue
- In the event if medical graduate is unable to obtain the training position and/or license to practice medicine in United States, NALP committee can further decide about extension of repayment time limit
Number of current Available loans = 5 (Subject to change based upon the availability of funds)
Minimum criteria to apply for NALP assistance
- Failure of any exams would result in disqualification from Loan.
- Year of graduation should be less than 4 Years.
- ECFMG Certification is must.
- Valid US Visa before the reimbursement of Loans.
- Without valid visa, person would be disqualified.
| Date/Month | Tasks to Do |
|---|---|
| June 10th | Receives applications from candidates requesting a loan. A meeting for decision will be called within 1–2 weeks. |
| June 11th to 30th | Committee makes a decision about the loan applications, and the Chair informs the candidates. |
| July 1st to 31st | Complete all the required documents – Promissory note, bank details. |
| August 1st to 10th | Committee reviews completion of documents for all loan recipients and uploads them to the repository: - Loan application - Promissory note - AAMC ID - Bank Details |
| August 11th to 31st | Ensures the disbursement of the loan before August 31st. |
