Federal Student Loans
The William D. Ford Federal Direct Loan Program (also called the Federal Direct Loan
Program) provides loans for students help pay for the cost post-secondary education.
The lender is the U.S. Department of Education, rather than a bank or other financial
institution.
Most PCOM students utilize the Federal Direct Unsubsidized loan to finance their education.
They then may supplement their Direct Unsubsidized loan with a Federal 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 each academic year.
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 |
Interest Rate
- 4.30% fixed interest rate for loans with first disbursement date between 7/1/2020
- 6/30/2021.
- The loan accrues interest while the student is enrolled and during repayment.
Loan Origination Fee
- 1.057% loan fee for loans with first disbursement date between 10/1/2020 - 9/30/2021.
- For example, if you borrow $20,500 in the Stafford loan, only $20,283 will disburse
to PCOM throughout the academic year.
Repayment Grace Period
- 6 months.
- Grace period 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, PharmD, and Clinical PsyD students.
- $138,500 lifetime aggregate borrowing limit for all other professional, graduate,
and certificate programs.
- View our How to Apply page for instructions on applying.
- View more loan details on the federal student aid website.
Federal Direct Graduate PLUS Loan
Annual Amount
Up to Cost of Attendance minus other financial aid (loans, scholarships and federal work study) awarded.
|
Interest Rate
- 5.30% fixed interest rate for loans with first disbursement date between 7/1/2020
- 6/30/2021.
- The loan accrues interest while the student is enrolled and during repayment.
Loan Origination Fee
- 4.228% loan fee for loans with first disbursement date between 10/1/2020 - 9/30/2021.
- For example, if you borrow $20,000 in the PLUS loan, only $19,154 will disburse to
PCOM throughout the academic year.
Repayment Grace Period
- 6 month post-enrollment deferment period.
- Student must request post-enrollment deferment period from lender after student graduates
or ceases to be enrolled at least half-time.
Notes
