Award procedures.

§ 17.616 Award procedures. (a) Distribution of funds. (1) Each covered medical school that opts to participate in the VHVMASP will reserve two seats in the entering class of 2020 for eligible veterans who receive funds for the VHVMASP. Funding will be awarded to two eligible veterans with the highest admissions ranking among veteran applicants for such entering class for each covered medical school. (2) If two or more eligible veterans do not apply for admission at a covered medical school for the entering class of 2020, VA will distribute the available funding to eligible veterans who applied, and are accepted, for admission at other covered medical schools. (b) Amount of funds. An eligible veteran will receive funding from the VHVMASP equal to the actual cost of the following: (1) Tuition at the covered medical school for which the veteran enrolls for a period of not more than 4 years; (2) Books, fees, and technical equipment; (3) Fees associated with the National Residency Match Program; (4) Two away rotations, performed during the fourth year of school, at a VA medical facility; and (5) A monthly stipend for the four-year period during which the eligible veteran is enrolled in a covered medical school in an amount to be determined by VA.