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Loans

Federal Direct Loans

Students enrolled in MU-WCOM are eligible for two types of federal direct loans.

Direct Unsubsidized Stafford

Direct Unsubsidized Stafford loans are available to undergraduate and graduate students, and are not based on financial need. You are responsible for paying the interest during all periods. If you choose not to pay the interest while in school, during grace, deferment, or forbearance periods, the interest will accrue (accumulate) and be capitalized (added to the principal amount of your loan). Repayment begins six months after enrollment falls below half-time, or your last date of attendance.

Interest:

Loan Fees:

Annual Unsubsidized Stafford Loan limits:
Medical students - $42,722 (10 month enrollment)
Medical students - $47,167 (12 month enrollment)

The lifetime total outstanding debt that you can receive from all Federal Stafford loans (undergraduate and graduate): medical students - $224,000

Direct Graduate PLUS

Direct Graduate PLUS loans are available to graduate/professional students, and are not based on financial need. You must not have an adverse credit history. If you are determined to have an adverse credit history, you may still receive a Direct PLUS loan if you obtain an endorser who does not have an adverse credit history. You may borrow up to the cost of attendance minus any other financial aid received. You are responsible for paying the interest during all periods. If you choose not to pay the interest while in school, during deferment, or forbearance periods, the interest will accrue and be capitalized. Repayment begins six months after enrollment falls below half time, or your last date of attendance.

Interest:

Loan Fees:

Annual PLUS Limits: Student may borrow the difference between the total student's cost of attendance minus any financial aid the student will receive.

Private Loans

Private loans are often used to help students pay for educational expenses up to their cost of attendance. Private loans are offered by private lenders, and there are no federal forms to complete. Eligibility for private student loans often depends on your credit score. Some students turn to private education loans when federal loans don't provide enough funding. The Office of Financial Aid recommends that students use as much of their federal loan eligibility before pursuing private loans.

FOR MORE INFORMATION

(317) 955-6400
COMadmissions@marian.edu