Federal Student Loans

Most PCOM students utilize the Federal Direct Stafford Unsubsidized 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.

Federal Direct Stafford Unsubsidized Loan

Annual Amount
$40,500 1st- and 2nd-Year DO
$47,167 3rd- and 4th-Year DO
   
$33,000 9-month Pharmacy; 9-month Clinical PsyD
$37,167 12-month Pharmacy; 12-month Clinical PsyD
   
$20,500 Physician Assistant; School PsyD
  All other graduate & certificate programs
Rates & Fees
  • 5.31% fixed interest rate for loans with disbursement date between 7/1/2016-6/30/2017.
  • 5.84% fixed interest rate for loans with disbursement date between 7/1/2015-6/30/2016.
    • Accrues interest while student is enrolled and during repayment.
  • 1.069% loan fee for loans with disbursement date between 7/1/2016-6/30/2017.
    • For example, if you borrow $20,500 in the Stafford loan, only $20,281 will disburse to PCOM throughout the academic year.
Repayment Grace Period

6 months. Begins after student graduates or ceases to be enrolled at least half-time.

Notes
  • No credit check required.
  • $224,000 lifetime aggregate borrowing limit for DO and Clinical PsyD students.
  • $138,500 lifetime aggregate borrowing limit for all other professional, graduate, and certificate programs.
  • Click here to view further details.

Federal Direct Graduate PLUS Loan

Annual Amount
Up to Cost of Attendance minus other financial aid (loans, scholarships, and federal work study) awarded.
Rates and Fees
  • 6.31% fixed interest rate for loans with 1st disbursement date between 7/1/2016-6/30/2017.
  • 6.84% fixed interest rate for loans with 1st disbursement date between 7/1/2015-6/30/2016.
    • Accrues interest while student is enrolled and during repayment.
  • 4.276% loan fee for loans with 1st disbursement date between 10/1/2016-9/30/2017.
    • For example, if you borrow $20,000 in the PLUS loan, only $19,145 will disburse to PCOM throughout the academic year.
Repayment Grace Period

6 months post-enrollment deferment period. Student must request from lender after student graduates or ceases to be enrolled at least half-time.

Notes
  • Credit check required. If student does not pass credit check, they will have opportunity to appeal or use a co-signer.
  • No lifetime aggregate borrowing limit.
  • Click here to view further details.

Federal Perkins Loan

Annual Amount
up to $5,000 Varies by program, year, and funding available.
Rates & Fees
  • 5.00% fixed interest rate.
    • Does not accrue interest while student is enrolled.
  • No loan fee.
Repayment Grace Period

9 months. Begins after student graduates or ceases to be enrolled at least half-time.

Notes
  • Awarded by the financial aid office to students to exceptional financial need.
  • $60,000 lifetime aggregate borrowing limit.
  • Click here to view further details.
  • NOTE! Unfortunately the government has discontinued the Federal Perkins Loan program for graduate & professional students. Our office awarded our last portions of Perkins loan funding to eligible students in the 2016-2017 academic year.