This information was gathered on June 20, 2017 from https://members.aamc.org/eweb/DynamicPage.aspx.
This information was gathered on June 20, 2017 from https://students-residents.aamc.org/financial-aid/article/the-cost-of-applying-to-medical-school/.
This information was gathered on June 23, 2017 from https://www.nhsc.hrsa.gov/scholarships/.
This information was gathered on June 23, 2017 from https://www.goarmy.com/amedd/education/hpsp.html.
This information was gathered on June 23, 2017 from https://students-residents.aamc.org/financial-aid/article/public-service-loan-forgiveness-pslf/.
This information was gathered on June 23, 2017 from https://www.aamc.org/advocacy/meded/79232/federal_student_loans.html.
This repayment example is based on a typical Medical School Loan made to a first-year graduate medical borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.54% fixed APR. It works out to 81 payments of $25.00, 239 payments of $129.14 and one payment of $25.17, for a Total Loan Cost of $32,914.63.
If at any time during the repayment period you enter an approved internship, clerkship, fellowship, or residency program you may contact us to request a deferment. To apply for this deferment, you must submit a form completed by you and an official from the approved program, to us for consideration. If you receive the deferment, the Current Amount Due you will be required to pay each month during the deferment period will reflect the same repayment option that applied to your loan during the in-school period. Deferment periods are issued in up to 12-month increments. You can receive a maximum of five 12-month deferment periods (60-month maximum). Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.
Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You're charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a first-year graduate. Graduate student pricing for this loan is limited to students enrolling in a Masters/Doctorate level degree program. Graduate Certificate/Continuing Education course work is not eligible.
Savings based on a typical loan to a first-year graduate student.