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 of 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 Direct 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 Unsubsidized Loan
Annual Amount |
||
|---|---|---|
| Program/Year | Before July 1, 2026 | After July 1, 2026 |
| First and second year DO | $42,722 | $50,000 |
| Third and fourth year DO | $47,167 | $50,000 |
| First through third year PharmD; first year Clinical PsyD |
$33,000 | $50,000 |
| Fourth year PharmD; returning Clinical PsyD |
$37,167 | $50,000 |
| Physician Assistant Studies; School PsyD; All other graduate and certificate programs |
$20,500 | $20,500 |
Interest Rate
- The Direct Unsubsidized loan has a fixed interest rate set based on its first disbursement. A new interest rate is established each July 1. Visit studentaid.gov/interest to view the present interest rate.
- The loan accrues interest while the student is enrolled and during repayment.
Loan Origination Fee
- The Direct Unsubsidized loan has an origination fee set based on its first disbursement. A new origination fee is established each October 1. Visit studentaid.gov/interest to view the present origination fee.
Repayment Grace Period
- Six month post-enrollment deferment period.
- 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.
- As of July 1, 2026 - $200,000 lifetime aggregate borrowing limit for DO, PharmD and Clinical PsyD students.
- As of July 1, 2026 - $100,000 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.
Schedule of Reduction
In accordance with the One Big Beautiful Bill Act, PCOM is required to apply the Schedule of Reduction (SOR) to students enrolled on a less-than-full-time basis. This policy requires the recalculation of federal loan eligibility for the academic year based on a student's currently registered credits combined with their anticipated credits in future terms. Absent information to the contrary, PCOM assumes a student will enroll in 6 credits during each subsequent term for purposes of applying the SOR.
Example
Summer (3 credits): The student starts the academic year registering for 3 credits. PCOM will assume 6 credits in the fall and 6 credits in the spring, for an annual total of 15 credits. Based on this, federal loans will be recalculated at a rate of 15/18, based on 18 credits representing full-time status for the year.
Fall (3 credits): The student then registers for 3 credits for fall as well. PCOM will assume 6 credits in the spring, for an annual total of 12 credits. Based on this, federal loans will be recalculated at a rate of 12/18, based on 18 credits representing full-time status for the year.
Spring (12 credits): The student ends the academic year registering for 12 credits, for an annual total of 18 credits. Based on this, federal loans will be recalculated and restore full federal loan eligibility at 18/18, based on 18 credits representing full-time status for the year.
Timing of Recalculation
- If completed prior to disbursement, the recalculation will be applied to the current term.
- If not completed prior to disbursement, the recalculation will be applied to the subsequent term.
- If a student withdraws or ends enrollment and the recalculation was applied after disbursement, the recalculation will be applied to the current term.
Federal Direct PLUS Loan*
Annual Amount
| Up to cost of attendance minus other financial aid (loans, scholarships and federal work study) awarded. |
Interest Rate
- The Direct PLUS loan has a fixed interest rate set based on its first disbursement. A new interest rate is established each July 1. Visit studentaid.gov/interest to view the present interest rate.
- The loan accrues interest while the student is enrolled and during repayment.
Loan Origination Fee
- The Direct PLUS loan has an origination fee set based on its first disbursement. A new origination fee is established each October 1. Visit studentaid.gov/interest to view the present origination fee.
Repayment Grace Period
- Six 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
- 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.
- View our How to Apply page for instructions on applying.
- Compare federal vs private student loans.
- View more loan details on the federal student aid website.
*Only open to existing borrowers who have already taken out Grad PLUS loans before July 1, 2026. These students are grandfathered in and can continue to borrow until their academic program ends or for up to three years, whichever occurs first. New borrowers after July 1, 2026, must rely on private educational loans and Direct Unsubsidized Loans.