Federal Direct Loan Programs

Unsubsidized Federal Direct Loans (UFL)

A first year graduate medical student may borrow a maximum of $42,722, a second year student may borrow a maximum of $42,722, a third year student may borrow a maximum of $47,167, and a fourth year student may borrow a maximum of $44,944. All graduate medical students have an aggregate maximum of $224,000 (including undergraduate and graduate Subsidized Federal Direct Loan, Unsubsidized Federal Direct Loan, and Federal Student Loans, combined).

Direct Plus Loan (DPL)

PLUS Loans are federal loans that graduate or professional degree students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program. The borrower must not have an adverse credit history. The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.

 

Interest Rates for Direct Loans First Disbursed on or After July 1, 2024, and Before July 1, 2025:

Loan Type	Borrower Type	Fixed Interest Rate
Direct Unsubsidized Loans	Graduate or Professional	8.08 %
Direct PLUS Loans	Parents and Graduate or Professional Students	9.08 %

Interest Rates for Direct Loans First Disbursed on or After July 1, 2023, and Before July 1, 2024:

Loan Type	Borrower Type	Fixed Interest Rate
Direct Unsubsidized Loans	Graduate or Professional	7.05 %
Direct PLUS Loans	Parents and Graduate or Professional Students	8.05 %

*Interest not paid while the student is in school may accrue and compound at the time of repayment. Students are encouraged to borrow as little as possible through the Unsubsidized Federal Direct Loan and Grad PLUS programs.

 

Private Loan Programs

Private Alternative Loan Programs (ALP)

The Private Alternative Loan Programs loan was designed to assist funding for any student wishing to obtain a non-federal loan. It is not a need based loan and students may borrow the cost of education less amounts received from Federal Direct loans, Federal Direct Graduate/Professional PLUS loans, institutional funds, and/or private funds. Once a private student loan lender has been selected a credit check will be conducted to determine the student's credit worthiness. The interest rate, which begins to accrue when the loan is disbursed to the school, will vary among lenders and may capitalize as often as every 3 months. An origination fee will be deducted from the principal borrowed. This also varies among lenders. Minimum payments may also be required. Students are encouraged to avoid this loan program if at all possible. The nature of the program presents the borrower with the potential of obtaining a severe, and often, unmanageable debt burden.

Additional Sources for MD Students

Scholarships

• Office of Student Affairs MCOM MD Foundation Scholarship Application (2025-2026 Application Date TBD).
  ^The application period for the 2024-2025 MCOM MD Foundation Scholarship has closed. The dedicated scholarship committee is currently reviewing all submitted applications and selecting recipients on a rolling basis. Scholarship award notifications will be sent to recipients’ official USF email accounts, typically between November and January. Award details will be available in student self-service (formerly OASIS). For any questions regarding the scholarship application, please contact Student Affairs directly at MDStudentAffairs@usf.edu.
  
• National Health Service Corps (NHSC)
• US Army Scholarship Program
• US Navy Scholarship Program
  
  

Non-USF Scholarship Searching Tools:

• Fastweb
• AAMC's Financial Preparation
• FinAid! Scholarship Search
• Big Future: College Scholarship Search

For information on SCHOLARSHIPS AND LOANS FOR DISADVANTAGED STUDENTS: Bureau of Health Workforce (BHW) - Health Resources and Services Administration (HRSA) click here.

For information on SCHOLARSHIPS FOR AMERICAN INDIAN AND ALASKA NATIVE STUDENTS: Indian Health Service Scholarships click here.