Allopathic Medicine

Student Loan Assistance

Federal Direct Unsubsidized Loans have a fixed 5.211% interest rate as of July 1, 2016.  Interest will accrue during the in-school, grace, and deferment periods.  An origination fee of 1.069% will be applied to each disbursement. Repayment begins 6 months after the last date of attendance. The maximum aggregate loan limit is $224,000. The aggregate loan limit includes undergraduate loans.

Federal Direct Graduate PLUS Loans have a fixed 6.21% interest rate as of July 1, 2016. The maximum amount that a student may borrow per academic year is the cost of attendance less any other financial aid. Interest accrues from the time the funds are disbursed. Repayment begins six months after the last date of attendance. Federal Direct Unsubsidized Loans will be utilized first. An origination fee of 4.276% will be applied to each disbursement. Credit is checked for all Graduate PLUS loans. If you have an adverse credit history, the loan may be denied. If you are denied, you may reapply with a credit worthy co-signer.

Private Loans

Robert Wood Johnson Loan - provides interest-free loans while enrolled in medical school and during the grace period.  Typical award amount is $2,000, depending on funding.  9% interest rate, which begins to accrual one year after graduation or upon termination from the program.  Both principal and interest payments may be deferred for internship and residency upon completion of the appropriate forms.

Loan for Disadvantaged Students - Applicants must demonstrate financial need and satisfy the federal government's definition of a disadvantaged student.  The award amount is based upon the allocation and the number of qualified applicants.  Parental income information must be provided on the FAFSA.  5% fixed interest rate begins accrual one year after graduation or upon termination from the program.  Usually a 10 year repayment period, normally starting after residency and internship, www.hrsa.gov/loanscholarships/loans/disadvantaged.html

Primary Care Loan - Students with demonstrated financial need who are willing to commit to practice in primary health care after completing a primary care residency (until the loan is repaid in full) are eligible for PCL funding. Fourth year students receive awarding priority.   Primary health care includes family medicine, internal medicine, pediatrics, and general practice.  No board certification sub-specialty training is allowed prior to completion of primary care commitment.  Preference will be given to senior students.  5% fixed rate, which begins accrual one year after graduation or upon termination from the program.  Repayment usually occurs over a ten year period, normally commencing after residency, http://www.hrsa.gov/loanscholarships/loans/primarycare.html