Students may apply as institutional aid applicants to be considered for need-based university loans.These loans are subsidized during school, and for up to three years of a medical residency.
|
Ellwood Loans |
|---|
| Lender: | Brown University |
Based on Need? | Yes, based upon parental and student/spouse resources |
| Annual Borrowing Limit: | $3,000 |
Aggregate borrowing limit: | $12,000 |
| Loan Fees: | None |
Interest Rate: | Fixed rate of 9% for loans borrowed prior to June 30, 2011. Fixed rate of 7% for loans borrowed after June 30, 2011.(starting in the 2011-2012 year) |
| Interest Accrues: | No |
In School? | No |
| During Grace? | No |
During Deferment? | No |
| Deferment Options | One-year residency if borrowed prior to June 30, 2011; 3 year residency deferment if borrowed after June 30, 2011; up to 3 yrs while serving in active military duty, Public Health Service Corps, Peace Corps/VISTA or as full-time volunteer for tax-exempt organization; no unemployment deferment; no student deferment beyond the M.D. degree |
Grace Period: | 6 months |
| Repayment Requirements: | Min $25/month, max. 10 yrs to repay |
Prepayment Penalties: | None |
| Allowable Cancellations: | |
|
Medical/Casperson/Kaplan Loans |
|---|
| Lender: | Brown University |
Based on Need? | Yes, based upon parental and student/spouse resources |
| Annual Borrowing Limit: | No limit |
Aggregate borrowing limit: | None |
| Loan Fees: | None |
Interest Rate: | Variable; currently 7% |
| Interest Accrues: | |
In School? | No |
| During Grace? | No |
During Deferment? | No |
| Deferment Options | Three-year residency; up to 3 yrs while serving in active military duty, Public Health Service Corps, Peace Corps/VISTA or as full-time volunteer for tax-exempt organization; no unemployment deferment; no student deferment beyond the M.D. degree |
Grace Period: | 6 months |
| Repayment Requirements: | Min $25/month, max. 10 yrs to repay. Late fee: 10% of monthly payment |
Prepayment Penalties: | None |
| Allowable Cancellations: | |
|
Plitt/Anderson Loan |
|---|
| Lender: | Brown University |
Based on Need? | Yes, based upon parental and student/spouse resources |
| Annual Borrowing Limit: | No limit |
Aggregate borrowing limit: | None |
| Loan Fees: | None |
Interest Rate: | Variable; currently 5% |
| Interest Accrues: | |
In School? | No |
| During Grace? | No |
During Deferment? | No |
| Deferment Options | 3 years residency |
Grace Period: | 6 months |
| Repayment Requirements: | Min $50/month, max. 10 yrs to repay |
Prepayment Penalties: | None |
| Allowable Cancellations: | |
