Loans
Emergency Loans
Information and the application for Emergency Loans can be found on the Bursar’s Office Loan Information website.
Loans:
The following federal loan programs are common to all disciplines at the University. See the menu at the left for College specific financial aid information.
| Federal maximum annual amount | Subsidized Stafford Loan | Unsubsidized Stafford Loan | Perkins Loan |
|---|---|---|---|
| Colleges of Medicine and Dentistry | $8,500 | $40,500 minus Subsidized Stafford Loan eligibility | $8,000 |
| College of Pharmacy | $8,500 | $33,000 minus Subsidized Stafford Loan eligibility | $8,000 |
| Graduate Level Programs | $8,500 | $20,500 minus Subsidized Stafford Loan eligibility | $8,000 |
| Undergraduate Programs | $5,500 | $12,500 minus Subsidized Stafford Loan eligibility | $5,500 |
| 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.
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:
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 forgiveness programs can start their search at Finaid.org’s Loan Forgiveness web page.
