Idahoans who attend Idaho’s first medical school will be eligible for scholarships totaling $200,000 per year for at least the next 10 years, according to a news release.
The scholarships — and an endowment fund that will receive $200,000 a year to fund scholarships beyond that 10 years — will be funded by a state tax break for businesses.
Robert Hasty, founding dean and chief academic officer of the Idaho College of Osteopathic Medicine, said a committee will decide how many students receive a scholarship each year and how large those scholarships will be.
ICOM will receive a tax reimbursement incentive award that essentially refunds about $400,000 of taxes back to the school, as long as it maintains a certain number of high-paying jobs. That $400,000 will be split between the annual scholarships and contributions to a scholarship endowment established by ICOM and the Idaho State University Foundation.
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Students who complete their undergraduate degrees at Idaho State University will be given preference for the scholarships, the release said. Students must have a minimum 3.5 grade-point average during undergraduate education to qualify. The recipients will be chosen by a committee made up of members from ICOM, the ISU foundation and other Idaho education and medical communities.
The proposed osteopathic medical school will be located at Idaho State University’s Meridian Health Science Center but will be separate from ISU.
ICOM has not yet received accreditation. The scholarships and endowment contributions will begin once ICOM achieves accreditation.
Private organizations and individuals can donate to the endowment fund. Visit idahostatefoundation.org/give-now for details.