Total cost can include tuition, room and board, books, lab fees, computers, school-related transportation, and other educational expenses. Your financial aid office can help you determine the amount of financial aid. If applying as credit-ready on your own signature, a guarantee fee of 8 percent of the total loan will be added and financed with the loan amount at disbursement, and a second guarantee fee of 3 percent of the current balance will be added at repayment. If applying as creditworthy or with a creditworthy co-borrower, a guarantee fee of 6 percent of the total loan will be added and financed with the loan amount at disbursement. Monthly Payments Repayment of principal and interest begins six months after graduation or a change in enrollment status to less than half-time.
Monthly payments remain fixed throughout the life of the loan.
Any increase in the interest rate during repayment will be reflected in an increase in the number of payments, not the monthly amount, unless an increase in the monthly amount is needed to keep repayment within the 25-year program maximum. Any unpaid interest accrued while in school or during a deferment period will be capitalized only at repayment. Deferment Option Medical school students may request an additional deferment after graduation for up to four years while completing an internship or residency. Full principal and interest payments will begin six months after completion of the deferment period. Interest will be capitalized at graduation and again at repayment.