If you have a Direct Subsidized Loan, the federal government subsidizes the interest while you are enrolled in school at least half-time, during the six month grace period, and during approved deferment periods. Interest is charged on a Direct Unsubsidized Loan from the day the loan is disbursed until it is repaid in full. You may pay the accrued interest quarterly or capitalize it. Repayment of Direct Subsidized and Unsubsidized Loans begins six months after you graduate, leave school, or drop below halftime enrollment. Only U.S. citizens or permanent residents are eligible to borrow a William D. Ford Direct Loan.
Interest is added to the principal once at the beginning of repayment.
There are no prepayment penalties on your MedAchiever Loans. Health Access Loan Students may borrow annually up to the cost of attendance minus other aid. Repayment begins six months after graduation. The cosigner must be a U.S. citizen, national, or permanent resident without condition. MedFunds Graduate students who wish to apply on their own signature must be U.S. citizens or permanent resident aliens with good or no credit history.