Loans

Understand all of your borrowing options. If you have any questions, don’t hesitate to contact us.

Depending on your level of need, you can apply for a Federal Unsubsidized Loan, a Federal Grad PLUS loan, or a combination of private and alternative loans.

Before accepting any loan, make sure you have a clear understanding of the interest and fees you’ll pay on it as well as your repayment plan options.

	Federal Direct Unsubsidized Loan	Federal Direct Grad Plus Loan	Private / Alternative Loan
Interest Rate	Fixed at 4.30% between 7/1/20 – 6/30/21 (Interest accrues from the date of disbursement)	Fixed at 5.30% between 7/1/20 – 6/30/21 (Interest accrues from the date of disbursement)	Variable (Interest accrues from the date of disbursement)
Origination Fees	Origination Fee is 1.057% between 10/1/20 - 9/30/21	Origination Fee is 4.228% between 10/1/20 - 9/30/21	Fees vary based on lender, loan type and credit history.
Annual Loan Limits	Non health professional graduate students can borrow $20,500.00 Health professional student can borrow up to HEAL loan limits	Up to the total cost of attendance minus other financial aid received.	Depends on lender and credit history
Credit Requirements	No credit check No cosigner required No debt-to-income scoring	Credit check required Cosigner may be required No debt-to-income scoring	Credit check required Cosigner may be required Debt-to-income scoring may be required
Deferment/Forbearance	Available	Available	Depends on Lender
Repayment	Grace period is 6 months after graduation or last day of attendance. Maximum term 10 to 25 years	No grace period Repayment begins within 60 days after final disbursement. Maximum term 10 to 25 years	No grace period Repayment terms vary

Calculating Your Student Loans

Our Student Loan Calculator can help you determine how much money you’ll need to borrow.

Private Alternative Loans

Alternative or Private Loans are designed to supplement federal, state, and institutional financial aid. Borrowers must be credit worthy and may require a co-signer. The loan programs may vary widely and should only be considered after your eligibility for all other types of aid are exhausted.

We believe the information presented on this site is unbiased, thorough, and clearly presented but you may choose any participating program or lender you wish. Please note that neither Touro College & University System nor any of its employees have received benefits of any kind in exchange for providing this list of lenders on the website.

ELM Select is a tool that may aid you in selecting a private educational loan.

The ELM Select website allows you to compare private loan terms and rates side-by-side. The site will give you an overview of loan options before requesting an application and credit check. The application and credit check will occur once you select the loan of your choice.

Borrowers have the right and ability to select the education loan provider of their choice and are not required to use any of the suggested lenders. You can find additional private loan information and suggestions from US News and World Report.