[Code of Federal Regulations]

[Title 42, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 42CFR57.1503]



[Page 292-293]

 

                         TITLE 42--PUBLIC HEALTH

 

    CHAPTER I--PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN 

                                SERVICES

 

PART 57_GRANTS FOR CONSTRUCTION OF TEACHING FACILITIES, EDUCATIONAL 

IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS--Table of Contents

 

     Subpart P_Loan Guarantees and Interest Subsidies to Assist in 

   Construction of Teaching Facilities for Health Profession Personnel

 

Sec. 57.1503  Eligibility.



    (a) Eligible applicants. In order to be eligible for a loan 

guarantee or interest subsidy under this subpart, the applicant shall:

    (1) Be a nonprofit private school of medicine, dentistry, 

osteopathy, pharmacy, optometry, podiatry, veterinary medicine, or 

public health, or any combination of such schools, or a nonprofit 

private affiliated hospital or affiliated outpatient facility: Provided, 

however, That in the case of an affiliated hospital or affiliated 

outpatient facility, an application which is approved by the school of 

medicine, osteopathy or dentistry with which the hospital or outpatient 

facility is affiliated and which otherwise complies with the 

requirements of subpart B of this part may be filed by any nonprofit 

private entity qualified to file an application under section 605 of the 

Act; and

    (2) Otherwise meet the applicable requirements set forth in section 

721(b) of the Act and Sec. 57.103 with respect to eligiblity for grants 

for construction of teaching facilities for health professions 

personnel.

    (b) Eligible loans. Subject to the provisions of this subpart, the 

Secretary may guarantee payment, when due, of principal and interest on, 

or may pay interest subsidies with respect to, or may both guarantee and 

pay interest subsidies with respect to any loan or



[[Page 293]]



portion thereof made to an eligible applicant by a non-Federal lender: 

Provided, That no such guarantee or interest subsidy shall apply to any 

loan the interest on which is exempt from Federal income taxation.