The student is responsible for paying the interest on the unsubsidized loan from the day the loan is disbursed. Interest payment on the unsubsidized loan may be deferred during in-school, grace, and deferment periods, however, the accrued interest may be capitalized, or added to the principal. The terms and conditions of the different alternative loans vary depending on the particular loan program. The total loan amount borrowed per academic year cannot exceed the cost of education less any other financial assistance received. The approval of an alternative loan is contingent upon the borrower having a positive credit history.
Deferments are automatic until two years after graduation.
The Armed Forces Health Professions Scholarship Program offers scholarships to medical students through the Army, Navy, and Air Force. The scholarship provides for full tuition and fees, reimbursement for books and supplies and a monthly living stipend. Students are encouraged to research these awards on their own.