Academy of Medicine

About the Academy of Medicine

The Wright State University Academy of Medicine is a community-based service organization dedicated to supporting excellence in medicine through education, research and service. Since its founding in 1977, the Academy of Medicine has made a difference in the lives of students at Wright State University's Boonshoft School of Medicine. Thanks in part to the Academy’s dedicated annual and life members, the school remains a catalyst for better health care by preparing outstanding physicians.

The organization supports medical education through providing student loans and awarding student and faculty achievement. Through membership, the Academy has circulated $2 million in student loans—saving more than 400 students the high costs of commercial loans. With loan repayments and Academy memberships, nearly $125,000 is being added to the pool annually. All this comes from an annual membership of $250. In addition, physicians in their residency qualify for a discounted associate membership of $50.

Bylaws

Membership

• Life Membership - $1,000, plus $100 for each year under age 60
• Annual Membership - $250
• Associate Membership (Residents) - $50

View Life Members

For more information, contact Nicki Crellin at nicki.crellin@wright.edu or 937-245-7634.

Board of Trustees

Student and Faculty Awards

Each year, the Academy of Medicine presents awards to outstanding students and faculty. The awards are presented each spring at the Annual Dinner, based upon academic achievement for the current year.

View the past winners of the Academy of Medicine Awards.

Low-Interest Loan Program

The Academy of Medicine's low-interest loan program for Wright State medical students is one of the best available anywhere in the nation. It has the lowest interest rate (5%) and the longest deferral of payment (three years after graduation).

Since 1985, member-supported Academy programs have generated $2.5 million in simple-interest loans to over 400 Wright State medical students. Used strategically in place of more expensive loans that compound during medical school and residency, Academy loans have saved medical students $448,800 in additional debt burden. What's more, the Academy has a 99.8% payback rate on its loans.

Benefits of the Academy Loan

• Does not accumulate interest while you are enrolled at least half time at WSU BSOM
• Low, fixed interest rate of 5%
• Defer payments up to 3 years after graduation
• No penalties for prepayment

Things to think about:

• Cannot consolidate with federal student loans
• Does not qualify for Public Service Loan Forgiveness (PSLF)
• Can defer payments in residency (up to 3 years) but will accumulate interest
• Loan repayment will be through a separate loan servicer

The Truth in Lending Act (TILA) of 1968 is United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.

Scholarship Fund

The Academy of Medicine has created a new scholarship fund to address one of the Boonshoft School of Medicine's highest priorities: philanthropic support for scholarships. As the cost of attending medical school continues to climb nationwide, Boonshoft School of Medicine graduates are now entering residencies with an average debt of more than $197,672. This new scholarship fund was created to help reduce their reliance on costly loans to cover their tuition.

To contribute to the Academy of Medicine Scholarship Fund, make your gift online. For more information about the fund, contact Nicki Crellin at nicki.crellin@wright.edu or 937-245-7634.

Founders

• John R. Beljan, M.D.*
• Richard A. DeWall, M.D.*
• Raymond M. Kahn, M.D.*
• Frank L. Shively, Jr., M.D.
• Sylvan L. Weinberg, M.D.*

Drs. Beljan and Shively first envisioned the Academy of Medicine on a fishing trip. They saw that School of Medicine faculty members were in a unique position to provide financial assistance to medical students. Dr. Beljan explained, “We discussed how to break down the barriers among the university, community, and medical school and how to unify them into a cohesive force to benefit the people of this region.” Their pioneering vision was realized in today's Academy of Medicine.

*Deceased