AR HB1021

Establishes the First-Year Medical Student Scholarship Program to encourage Arkansas residents to complete undergraduate education within 24 months and pursue medical degrees at specified institutions

Awards one-time scholarships of $30,000 for students completing undergraduate education within 24 months or $15,000 for those completing within 36 months, applied toward medical school studies

Eligible applicants must be Arkansas residents who have successfully completed their first year of medical school at the University of Arkansas for Medical Sciences College of Medicine, Arkansas College of Osteopathic Medicine, or the New York Institute of Technology College of Osteopathic Medicine at Arkansas State University

Scholarships are non-repayable grants funded through the Higher Education Grants Fund Account, distributed on a first-come, first-served basis when funds are insufficient to serve all eligible applicants, with priority given to those completing undergraduate education within 24 months

Division of Higher Education administers the program and disburses funds based on letters received from participating medical institutions and the Osteopathic Rural Medical Practice Student Loan and Scholarship Board