Private Loans

Recipients of private loans and/or scholarships are obligated to provide the Office of Financial Aid with written confirmation of the annual award from the outside agency. Outside awards first reduce the student’s higher cost loans (e.g., Federal Graduate PLUS or Federal Unsubsidized Direct loans). Awards that exceed the amount borrowed through these loans then reduce the Alpert Medical School loans and scholarship.

Private Loan Programs

Private organizations, outside of the university, offer loan funding that students must apply for that may offer terms that are very favorable.  While AMS does not participate in the naming of recipients, we do provide a private loan database, that students may research to explore these options. This database lists private loans organized by specific criteria. Students are encouraged to inquire for more information for each loan in which they may be eligible.

Private (Preferred) Educational Loans

Private credit-based educational loans are offered by private commercial lenders or state loan authoritites for the purpose of financing college costs. Qualifications and eligibility criteria vary by lender. Most lenders require a credit-worthy U.S. borrower and sometimes a co-borrower. The interest rate and fees are determined by your credit history, your debt-to-income ratio and that of your co-signer.  The University Loan Office has prepared a Preferred Lender list after careful research of each of the organizations to ensure that they offer favorable terms.

Lender Medical Students
Citizens Bank TruFit Student Loan:  students enrolled at least half-time in a degree granting program; all applicants must be a US citizen or permanent resident, or an international student with a US citizen or permanent resident cosigner.
Discover Student Loans Discover Health Professions Loan: Available to graduate health professions students attending school at least half-time and making satisfactory academic progress.  All applicants must be a U.S. citizen or permanent resident, or an international student with a U.S. citizen or permanent resident cosigner.
Sallie Mae Sallie Mae Smart Option Loan*: medical school students enrolled in an eligible program.  All applicants must be a US citizen or permanent resident, or an international student with a US citizen or permanent resident cosigner.  *Borrowers have two options when choosing the Smart Option Loan.  You can choose the Fixed Repayment loan (make $25 monthly payments while in school), or the Interest Only loan option (make full interest payments while you are in school). 
Wells Fargo

Wells Fargo MedCAP Loan: students enrolled in an approved allopathic or osteopathic medical program or other health-related programs offered by an approved medical school.  All applicants must be a US citizen or permanent resident, or an international student with a US citizen or permanent resident cosigner.

Wells Fargo MedCAP-XTRA Loan: is for Wells Fargo or Wachovia customers in their final year at an approved allopathic or osteopathic school or those enrolled at an approved school in one of nine other disciplines (please see website for details).

Please contact the lender for further information regarding interest rate, terms and conditions.

Your private education lender will require you to complete a Private Education Loan Applicant Self-Certification Form.  You should use the version the lender provides as it may contain pre-populated information. 

Brown University’s Office of Financial Aid adheres to the Code of Conduct as established by the Higher Education Opportunity Act as well as the National Association of Student Financial Aid Administrators' (NASFAA) Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.  Click here to view Brown University’s Financial Aid Code of Conduct.