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School of Medicine

Financial Aid for Graduate Programs

Financial Aid for Graduate Programs

The School of Medicine Financial Aid Office provides financial aid counseling to students who are enrolled in Premedical Health Sciences Certificate Program (CERT) and the School of Medicine Master’s and Ph.D. programs. Students who are interested in obtaining financial aid should file the FAFSA (Free Application for Federal Student Aid). Students are eligible to receive the Federal Direct Unsubsidized Stafford Loan for up to 20,500 and if needed—up to the Cost of Attendance —from the Federal Direct Graduate PLUS program. Students who are in default of any type of federal student loan are not to be eligible to receive federal loans until the default status is resolved.

Applicants who anticipate borrowing as a means of financing their medical education are advised to ensure that their personal credit record has no adverse credit history. The establishment of good credit is not a requirement for obtaining the Federal Direct Unsubsidized Stafford Loan, but the Federal Direct Graduate PLUS Loan takes credit history into account.

Financial need is not a factor in decisions regarding admission.


To Apply for Financial Aid

FAFSA 2017-2018: https://fafsa.ed.gov

VCU School Code for FAFSA: 003735

 

Federal Student Loans

Federal Direct Subsidized Stafford Loan

The Federal Direct Subsidized Stafford Loan is no longer available for Graduate and Professional students.

 

Federal Direct Unsubsidized Stafford Loan

The Federal Direct Unsubsidized Stafford Loan is available to graduate students. The maximum amount is $20,500 for Fall and Spring semesters. A one-time promissory note needs to be signed for the Federal Direct  Unsubsidized Stafford Loan. An origination fee of 1.069 percent is charged up front for loans disbursed after October 1, 2016 and before October 1, 2017.  The Stafford Loan aggregate limit is $138,500. The interest rate on the loan is at a fixed 5.31%. Interest begins to accrue on these loans at the time of disbursement. Repayment begins six months after falling below half time enrollment, termination of enrollment or graduation.

 

Federal Direct Graduate PLUS Loan

The Federal Direct Graduate PLUS Loan is a credit based loan that allows graduate and professional students to borrow up to the standard cost of attendance minus any other aid. An origination fee of 4.276 percent is charged up front for loans disbursed after October 1, 2016 and before October 1, 2017. The interest rate on the loan is at a fixed 6.31%. Repayment begins immediately with provisions for deferment while in school more than half time. Applications are available on the Financial Aid website under the Forms tab. Students must sign a separate master promissory note for these loans.

Federal Graduate PLUS Loan Application  icon_PDF


 

Private/Alternative Student Loans

These are unsecured bank loans. These credit-based loans are offered at variable interest rates and are based on either prime or LIBOR, which fluctuates quarterly. Interest begins to accrue immediately but you are able to defer both interest and principle repayment while you remain enrolled. Various lenders offer different benefits, terms and conditions so be sure to read carefully before you agree to apply or consult with the SOM Financial Aid Office.

 

 

VCU School of Medicine Financial Aid Forms for Graduate Students

Downloadable Forms (VCU Financial Aid):

http://finaid.vcu.edu/resources/forms.html

Rights and Responsibilities (VCU Financial Aid):

http://finaid.vcu.edu/resources/rights.html

Financial Aid Checklist for Graduate Students:

Financial Aid Checklist for Graduate Students icon_PDF

 

Check Your Financial Aid Status Online

Check your financial aid status online at https://ssb.vcu.edu/proddad/twbkwbis.P_WWWLogin.


 

Cost of Attendance

*** 2017 - 2018 Cost of Attendances will be posted as soon as they are available.

 

For Free Credit Report

For a free credit report, visit: https://www.annualcreditreport.com/index.action

 

 

Credit Bureaus

List of Credit Bureaus:

 

 

Contact Us

If you have any questions or comments, contact us at http://www.medschool.vcu.edu/studentaffairs/financial_aid/contact/