A bill to amend the Public Health Service Act to provide for loans for students in programs for the training of physician assistants and to provide for the allocation of a certain amount of the National Health Service Corps Scholarship funds for scholarships for physician assistants, and to provide for a study of the cost-effectiveness and supply and demand for physician assistants.

Amends the Public Health Health Service Act to authorize the Secretary of Health, Education, and Welfare to enter into an agreement with any program for the training of physician assistants to establish a student loan fund.

Allots a certain amount of the National Health Service Corps Scholarship Program funds for scholarships for graduates of programs for the training of physician assistants.

Directs the Secretary to conduct and submit to Congress a study of the cost-effectiveness of the use of physician assistants and of the anticipated supply and demand for physician assistants.