Federal Direct Loans

We automatically offer Unsubsidized and GradPlus loans to eligible, currently enrolled medical students who have completed their FAFSA.

Direct Unsubsidized Loan 

This loan is federally-guaranteed, and it is not based on financial need.  Interest accrues from the time the loan is disbursed to the school and is a fixed rate for the life of the loan.  Loan origination fees are taken out at the time of disbursement. There are maximum amounts you can receive per school year determined by the number of months you are in school. The cumulative lifetime loan aggregate for the Federal Direct Subsidized/Unsubsidized Loan is $224,000. 

If you are an:

  • MS1 & MS2 may borrow up to $44,944* annually 
  • MS3 may borrow up to $47,167* annually 

  • MS4 may borrow up to $42,722* annually 

*assumption based on not exceeding lifetime loan aggregate of $224,000

Grade Level Loan Type First Disbursed Between 7/1/21 and 6/30/22 First Disbursed Between 7/1/22 and 6/30/23 Loan Fee First Disbursed After10/1/20
Graduate/Professional Direct Unsubsidized Loan Fixed at 5.28% Fixed at 6.54% 1.057% 

Additionally, the life-time maximum a student may receive throughout their undergraduate, graduate and medical school career is $224,000 (also includes all Federal Direct or FFELP Subsidized Loans you may have received).

GraduatePLUS Direct Loan

Federal Direct Graduate PLUS Loan is a loan made by the U.S. Department of Education to graduate or professional students. Interest accrues from the time the loan is disbursed to the school and is a fixed rate for the life of the loan. Loan origination fees are taken out at the time of disbursement. Graduate PLUS Loans do require the borrower to be credit-worthy.

Grade Level Loan Type First Disbursed Between 7/1/21 and 6/30/22 First Disbursed Between 7/1/22 and 6/30/23 Loan Fee First Disbursed After10/1/20
Graduate/Professional Direct Graduate PLUS Loan Fixed at 6.28% Fixed at 7.54%  4.228% 

 

NOTE: The current CARES Act legislation has suspended interest accrual from March 13, 2020 through December 31, 2022 with a 0% interest rate. For more details and updates please regularly visit the Coronavirus section on studentaid.gov.