Health Professional
Loans
What
are health professional loan?
For graduate students
who are pursuing advanced degrees in fields related to
medicine, health graduate loans provide access to
financing college expenses. With health professional
loans, students will
know that the cost of their education is covered and
have the peace of mind to concentrate on their
studies.
Need Help? Have Questions?
Contact one of our Health Professional School Loan Counselors now at 1-888-9-GRADLOAN or 1-888-947-2356
What benefits are associated
with taking out health professional loan?
There are many benefits
to taking out health professional loans with Student Aid Centers. Among the
advantages of their customized graduate student loan
program are:
-
A convenient, hassle-free application
process. With Student Aid Centers, you won't get stuck
under a mound of paperwork - you can even apply
online.
-
Fast approval. In a matter of minutes,
you'll be able to have preliminary approval of your
graduate health loans - whether you call or apply
online.
Fast funding. When you apply for graduate
health professional loan with Student Aid Centers, you won't have to
wait indefinitely to get your financing in hand.
Instead, you'll have funding in as little as two
business days from the time your completed application
was received.
In addition, you'll find that there
are no hidden fees - neither during the application
process nor in the rates charged when it comes time to
repay your loans.
Who is eligible to apply for health
graduate loans?
If you are a graduate
student in a degree or certificate program related to
health care, you're eligible for
health professional loans. The only requirements
are that you attend an approved school and that you are
enrolled at least half-time (as determined by your
school).
How much can
be borrowed?
| Degree Program |
Cumulative Loan Amount |
Limits for
Each Academic Year |
| Dental School |
$1,500 - $225,000 |
Cost of
attendance minus other aid |
| Medical School Loans |
$1,500 - $225,000 |
Cost of
attendance minus other aid |
| Osteopathic Medicine |
$1,500 - $130,000 |
Cost of
attendance minus other aid |
| All Others |
$1,500 - $120,000 |
Cost of
attendance minus other aid
|
Need Help? Have Questions?
Contact one of our Health Professional School Loan Counselors now at 1-888-9-GRADLOAN or 1-888-947-2356
How does your
credit rating affect your health professional
loan? In order
to obtain graduate health loans through Student Aid
Centers, you must be a credit-ready or credit-worthy
borrower. Credit-ready borrowers must meet
certain credit requirements and be either US citizens or
permanent residents who have lived in the United States
for the past two years. Credit-worthy borrowers
must also be US citizens or permanent residents who have
lived in the US for the past 2 years. In addition, they
must:
-
Have been employed for at least two
years or have been in business/self-employed for at
least two years;
-
Have proof of your current
income;
-
Have a demonstrated satisfactory
credit history over the past 21 months, and
-
Have lived at your current residence
for at least one year.
Credit-worthy borrowers with higher credit ratings may find that
the total costs of their loans are lower. For
other borrowers, better rates may be obtained by applying
for health professional loans with a credit-worthy
co-signer.
Can international
students apply for health professional loans?
With Student Aid Centers,
international students can apply for health professional loans as long
as they apply with a qualified co-signer. In addition,
they will need to present student visas and other
required documentation. For details, call a Student
Aid Centers loan counselor.
Repaying your health graduate loans.
It makes sense that you have
questions about repaying your health professional loans, that you
may have concerns about the repayment process.
Student Aid Centers recognizes that you
shouldn't worry about paying back your loans while you
are in school. Therefore, you can defer principal and
interest payments while you are in school. Medical
students will even be able to request an additional
deferment while they complete their internship and
residency requirements.
You will be able to make low monthly
payments over a period of 20 years. There are no
penalties for prepayment. Additional terms of
repayment will be available to you when you apply
online for graduate health
loans.
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