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 and GA-PCOM students utilize the Federal Direct Stafford Unsubsidized loan to finance their education. They then supplement their Federal Stafford 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
  • 6.00% fixed interest rate for loans with first disbursement date between 7/1/2017 - 6/30/2018.
  • 5.31% fixed interest rate for loans with first disbursement date between 7/1/2016 - 6/30/2017.
  • Loan accrues interest while student is enrolled and during repayment.
Loan Origination Fee
  • 1.066% loan fee for loans with first disbursement date between 10/1/2017 - 9/30/2018.
  • 1.069% loan fee for loans with first disbursement date between 10/1/2016 - 9/30/2017.
    • 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.
  • 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.
  • More 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
  • 7.00% fixed interest rate for loans with first disbursement date between 7/1/2017 - 6/30/2018.
  • 6.31% fixed interest rate for loans with first disbursement date between 7/1/2016 - 6/30/2017.
  • Loan accrues interest while student is enrolled and during repayment.
Loan Origination Fee
  • 4.264% loan fee for loans with first disbursement date between 10/1/2017 - 9/30/2018.
  • 4.276% loan fee for loans with first 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 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