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  Financial Aid

Loans

Loans

Federal Student Loans
Direct Stafford Unsubsidized Direct Graduate PLUS
Perkins
Federal Health Resources and Services Administration (HRSA) Loans
Primary Care Loan Loan for Disadvantaged Students
Non-Federal Private Student Loans
Many banks and credit unions offer graduate and medical student loans
PCOM Institutional Loans
Alumni Association Loan

Federal Student Loans
Most PCOM students utilize the Federal Direct Stafford loan to finance their education. They then supplement their Stafford loan with a Graduate PLUS loan or a private student loan to pay for remaining tuition as well as books, supplies, and living expenses. All students who wish to be considered for federal student loans must complete the FAFSA application. Parent information is NOT required on the FAFSA for consideration of these loans.
Loan Annual Amount Rates & Fees Grace Period Notes
Federal Direct Stafford Unsubsidized $40,500
$47,167

$33,000
$37,167

$20,500
1st & 2nd year DO
3rd & 4th year DO

9-month Clinical PsyD
12-mo Clinical PsyD

Pharmacy, Physician Assistant, and all other graduate and certificate programs
5.41% fixed interest. Future rate may vary.

Accrues interest while student is enrolled and during repayment.

1.072% loan fee.
6 months, starts after student ceases to be enrolled at least half-time or graduates. No credit check required.

$224,000 lifetime aggregate borrowing limit for DO and Clinical PsyD students.

$138,500 lifetime aggregate borrowing limit for graduate students.

Click here for further details.
Federal Direct
Graduate PLUS
Up to Cost of Attendance minus other financial aid (loans, scholarships, and federal work study) awarded. 6.41% fixed interest rate. Future rate may vary.

Accrues interest while student is enrolled and during repayment.

4.288% loan fee.
6 months, post-enrollment deferment. Student must request from lender after ceases to be enrolled at least half-time or graduates. Credit check required. If student does not pass credit check, co-signer can be used.

No lifetime aggregate borrowing limit.

Click here for further details.
Click here to learn how to apply for a Graduate PLUS loan and compare it to private student loans.
Federal Perkins Up to $5,000, varies by program and year. 5.0% fixed interest rate.

Does not accrue interest while student is enrolled.

No loan fee.
9 months, starts after student ceases to be enrolled at least half-time or graduates. Awarded by financial aid office to students with exceptional financial need.

$60,000 lifetime aggregate borrowing limit.

Click here for further details.

Health Resources and Services Administration (HRSA) Loans
Millions of Americans do not have access to health care because they live where there are not enough health professionals to meet basic needs. Shortages of health professionals suggest many more may soon find themselves unable to see a primary health care provider when they need one.

HRSA health professions loan repayment, scholarship and loan programs help to encourage and enable clinicians to work in underserved areas.
Loan
Annual Amount Rates & Fees Grace Period Notes
Loan for Disadvantaged Students Up to Cost of Attendance minus other financial aid (loans, scholarships, and federal work study) awarded.

Varies by funding available.
5.0% fixed interest rate.

Does not accrue interest while student is enrolled.

No loan fee.
12 months, starts after student ceases to be enrolled at least half-time or graduates. Sponsored by the Department of Health and Human Services and is administered by PCOM.

Available for DO students who submit parental income information on the FAFSA and meet the definition of demonstrating exceptional financial need.

Click here for further details.
Primary Care Up to cost of tuition and fees.

Varies by funding available.
5.0% fixed interest rate.

Does not accrue interest while student is enrolled.

No loan fee.
12 months, starts after student ceases to be enrolled at least half-time or graduates. Sponsored by the Department of Health and Human Services and is administered by PCOM.

Available for DO students who agree to enter and complete residency training in primary care within four years after graduation and practice primary care for the life of the loan.

Available for students who submit parental income information on the FAFSA and meet the definition of demonstrating exceptional financial need.

Click here for further details.

 

Non-Federal Private Student Loans
Private student loans are financing options for education that can either supplement or replace federal student loans. Private student loans are offered by many banks and credit unions. Rates, amounts, periods, and other conditions can vary greatly between lenders so it is important to research private student loans carefully.
Loan Annual Amount Rates & Fees Grace Period Notes
Non-Federal Private Student Loans Up to Cost of Attendance minus other financial aid (loans, scholarships, and federal work study) awarded. Variable and fixed rates available.

Usually no loan fees.

Discuss details and conditions with lender.
Varies by lender, many allow up to 6 months after student ceases to be enrolled at least half-time or graduates. Credit check required.

Having a co-signer can dramatically improve your interest rate.

Discuss details and conditions with lender.

Click here to compare popular private lenders with FASTChoice.
Click here to compare private student loans with the Graduate PLUS loan.

PCOM Institutional Loans
Loan Annual Amount Rates & Fees Grace Period Notes
Alumni Association Loan $3,000 5.0% fixed interest rate.

Does not accrue interest will student is enrolled.

No loan fee.
Repayment starts June 30 one year after graduation. Funded by PCOM Alumni Association. Awarded to 2nd+ year graduate and medical students who demonstrate financial need and are in good academic standing.

$6,000 lifetime aggregate borrowing limit.

Last Updated: 7/7/14