Federal Stafford Loan Programs
The Office of Student Financial Planning at the School of Medicine has prepared this listing of lenders for your review and consideration. We review lenders based upon the following: repayment benefits offered, low origination fees, ability of the lender to provide life-of-loan servicing, full range of products offered specific to medical students and customer service. The School of Medicine does not endorse any lender or loan product - this information is made available solely to assist students in comparing student loan products.
You are not required to select one of these lenders as the provider of your Federal Stafford Loan; you may complete a Federal Stafford Loan master promissory note with any lender you choose.
Lender 2009-10 Terms
Chase
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Citibank
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments and agreement to receive electronic statements
• Deferment available during residency*
Discover Student Loans
• 0% origination fee
• 0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Sallie Mae
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
SunTrust
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Wells Fargo
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• Deferment available during residency*
*Borrowers must apply and meet eligibility criteria established by the federal government for deferment.
Incoming students: if you currently have Federal Stafford Loans from your undergraduate or graduate institution and wish to continue using that lender, please contact the Office of Student Financial Planning to provide your current lender’s information.
You are not required to select one of these lenders as the provider of your Federal Stafford Loan; you may complete a Federal Stafford Loan master promissory note with any lender you choose.
Lender 2009-10 Terms
Chase
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Citibank
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments and agreement to receive electronic statements
• Deferment available during residency*
Discover Student Loans
• 0% origination fee
• 0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Sallie Mae
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
SunTrust
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• 0.25% interest rate reduction for direct-debit of monthly payments
• Deferment available during residency*
Wells Fargo
• 0.50% origination fee
• 1.0% default fee
• Fixed interest rate of 6.8%
• Deferment available during residency*
*Borrowers must apply and meet eligibility criteria established by the federal government for deferment.
Incoming students: if you currently have Federal Stafford Loans from your undergraduate or graduate institution and wish to continue using that lender, please contact the Office of Student Financial Planning to provide your current lender’s information.