Federal Student Loans for Professional Students

Federal Student Loans for Professional Students

The William D. Ford Federal Direct Loan Program (additionally referred to as the Federal Direct Loan
Program) offers loans for students assist pay for the fee post-secondary training.
The lender is the U.S. Department of Education, somewhat than a bank or different monetary
establishment.

Most PCOM students make the most of the Federal Direct Unsubsidized loan to finance their training.
They then might complement their Direct Unsubsidized loan with a Federal Graduate PLUS loan or a personal student loan to pay for remaining
tuition in addition to books, provides and residing bills.

All students who want to be thought-about for federal student loans should full the
FAFSA utility every educational yr.

Federal Direct Stafford Unsubsidized Loan

Annual Amount
$40,500 1st- and 2nd-Year DO
$47,167 Third- 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 different graduate & certificates packages
Interest Rate
  • 4.30% mounted rate of interest for loans with first disbursement date between 7/1/2020
    – 6/30/2021.
  • The loan accrues curiosity whereas the student is enrolled and through reimbursement.
Loan Origination Fee
  • 1.057% loan payment for loans with first disbursement date between 10/1/2020 – 9/30/2021.
    • For instance, should you borrow $20,500 within the Stafford loan, solely $20,283 will disburse
      to PCOM all through the educational yr.
Repayment Grace Period
  • 6 months.
  • Grace interval begins after student graduates or ceases to be enrolled no less than half-time.
Notes
  • No credit test required.
  • $224,000 lifetime mixture borrowing restrict for DO, PharmD, and Clinical PsyD students.
  • $138,500 lifetime mixture borrowing restrict for all different skilled, graduate,
    and certificates packages.
  • View our How to Apply web page for directions on making use of.
  • View extra loan particulars on the federal student support web site.
READ:   Discover Student Loans Review: Is It Good?

Federal Direct Graduate PLUS Loan

Annual Amount
Up to Cost of Attendance minus different monetary support (loans, scholarships and federal work research) awarded.
Interest Rate
  • 5.30% mounted rate of interest for loans with first disbursement date between 7/1/2020
    – 6/30/2021.
  • The loan accrues curiosity whereas the student is enrolled and through reimbursement.
Loan Origination Fee
  • 4.228% loan payment for loans with first disbursement date between 10/1/2020 – 9/30/2021.
    • For instance, should you borrow $20,000 within the PLUS loan, solely $19,154 will disburse to
      PCOM all through the educational yr.
Repayment Grace Period
  • 6 month post-enrollment deferment interval.
  • Student should request post-enrollment deferment interval from lender after student graduates
    or ceases to be enrolled no less than half-time.
Notes

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