Financial aid funds
Loans:
The following federal loan programs are common to all disciplines at
the University. See College specific financial
aid information for information on other funding available for certain
Colleges.
| Federal maximum annual amount |
Subsidized Stafford Loan |
Unsubsidized Stafford Loan |
Perkins Loan |
Colleges of Medicine and Dentistry |
$8,500 |
$38,500 minus Subsidized
Stafford Loan eligibility |
$6,000 |
| College of Pharmacy |
$8,500 |
$31,000 minus Subsidized
Stafford Loan eligibility |
$6,000 |
Graduate Level Programs
|
$8,500
|
$20,500
minus Subsidized
Stafford Loan eligibility
|
$6,000
|
| Undergraduate Programs |
$5,500 |
$10,500 minus Subsidized
Stafford Loan eligibility |
$4,000 |
| Interest rate |
6.8% |
6.8% |
5% |
If you accept a Stafford Loan, a promissory note will be provided to
you by your lender. You will need to complete and return the promissory
note to your lender. Once the promissory note is received and the loan
is guaranteed, loan proceeds will be sent to the Cashier's Office.
Students are free to borrow Stafford Loans from any lender. The most common lenders at the University
can be viewed at the following websites.
Stafford: Lender List
Grad Plus: Lender List
Students should invest some time in determining an appropriate lender. A student is free to choose any lender that participates in the Federal Stafford and Graduate PLUS Loan Programs. Although UTHSC has put together a list of lenders in these programs, students may want to learn more about what options they have and how to evaluate a lender. Two resources that may help in this investigation include the FinAid.org website and the Federal Student Aid website.
All students who borrow a Stafford Loan are required to do an Entrance
Interview prior to the first disbursement of the loan and an Exit Interview prior to leaving the University. Each of these are scheduled for
large groups of students at one time, generally for one class of students
in a particular College, and you will be notified of such. However,
since one may need to complete one of these counseling sessions on an individual
basis, we have the following web sites to assist you in completing this
requirement:
Entrance
Interview
Exit Interview
Loan Forgiveness:
Under certain circumstances, the Federal government will cancel all or part of an educational loan. This practice is called Loan Forgiveness. Students who are interested in gathering more information on loan foregiveness programs can start their search at Finaid.org’s Loan Foregiveness web page.
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