Financial Assistance Program (FAP) - PDF Document

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Financial Assistance Program (FAP)

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  1. Financial Assistance Program (FAP) The Financial Assistance Program (FAP) is an Individual Ready Reserve Program for physicians currently accepted to or enrolled in an accredited residency or fellowship program progressing toward a specialty which has been designated as critical to the Department of Defense. FAP participants receive a monthly stipend, 14 days of active duty annual training, reimbursement for all required tuition, fees, books and equipment for training, and a yearly grant paid on the anniversary of enrollment into the program. In exchange for these benefits, the FAP participant agrees to serve on active duty for a period of the number of years of participation in FAP plus one year (i.e. 4 years of FAP benefits results in 5 years of active duty obligation). Benefits As a participant in the FAP program, you will receive a monthly stipend of $2088.00 per month and an annual grant of $45,000. Your stipend and grant payments start on theFAP eligibility date and ends on the program completion date. You are also eligible for 14 days a year of active duty for which you are paid at the appropriate level. THIS IS IN ADDITION TO YOUR RESIDENT PAY!!! THIS IS IN ADDITION TO YOUR RESIDENT PAY!!! FAP Grant The initial FAP Grant will be received upon entry into FAP. Subsequent grant payments are paid on the entry anniversary date until graduation. Your last grant payment will be prorated from the anniversary date to the graduation date. Tuition Payment If your specialty education requires a tuition payment, it will be paid by the Navy. Required Books, Fees and Laboratory Expenses Reimbursement for all required books, fees and expenses will be paid to you while in the FAP Program. Active Duty Requirement In exchange for the above benefits, the FAP participant agrees to serve on active duty for a period of the number of years of participation in FAP plus one year (i.e. 4 years of FAP benefits results in 5 years of active duty obligation. HM1 (FMF/CAC) HEATH O’BERRY Office: 402-558-1212 Cell: 402-490-5674 Heath.oberry@navy.mil