Loans
We always encourage students to apply for scholarships throughout their medical education, however, we do know that most students need to borrow loans to meet their financial needs. It is important to research the available loan types so you can find the best loan package to fit your needs. The rights and responsibilities of each loan option should also be viewed before beginning medical school.
We strongly encourage you to review the information detailed in the following pages about the available loan types. You can also view a brief summary of the loan types by clicking on the following link: Loan Comparison.
In addition to reviewing the available loan types, you should begin considering who you will use as your lender. Interest rates, repayment terms along with deferment and forbearance options will not vary by lender due to established U.S. Department of Education guidelines. However, lenders may make adjustments to these terms or provide prospective borrowers with special benefits.
For example, a lender may discount the loan fees on certain loan types. These fees would be normally deducted from the amount disbursed to the borrower. Another lender may offer borrowers small interest rate reductions for on time payment of the loans.
You have the ability to use the lender of your choice. To assist you in your search for a lender, Saint Louis University has compiled a historical list of lenders who continue to participate in the Federal Loan Program and who within the last three years SLU students have used. You may choose any lender regardless of being on the historical lender list. Click the following link to visit the Lender List.
We are here to assist you; should you have any questions, please do not hesitate to contact us at 314-977-9840 or by email at sfp@slu.edu.
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