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The recently announced program sponsored by the AMA-ERF of guaranteed loans for medical students, interns, and residents was considered for many years before its final fruition. The Student American Medical Association deserves special credit for the role it played in the history of this significant project.
The Student American Medical Association established a foundation in 1954 to provide financial assistance to medical students through scholarships and loans. The principal objective was to make available low interest loans to students, and the officers of SAMA formally requested assistance from the American Medical Association in the establishment of the program. The AMA board of trustees asked the Council on Medical Education and Hospitals to review the need for scholarships and loans. After prolonged consideration, the board concluded that further information was necessary regarding the degree of need and the ability of SAMA to conduct such a program. It was also felt desirable
AMA-ERF LOAN PROGRAM— SPECIAL CREDIT. JAMA. 1962;179(11):892–893. doi:10.1001/jama.1962.03050110060015
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