The Federal Direct Unsubsidized Loan is awarded to students who demonstrate financial need, as based on Federal Methodology calculations.   Qualified first and second year students can borrow up to $42,722 annual maximum.  Third year students can borrow up to $47,167, less any Subsidized Stafford Loan.  Fourth year students can borrow up to $44,944.  The aggregate maximum is $224,000.  Beginning July 1, 2006 all new Stafford loans will have a fixed interest rate of 6.8%.  There is no interest subsidy under the Unsubsidized Stafford Loan program.  Up to 1%-origination/default fee paid to the U.S. Dept. of Education by way of fees deducted from your check before it is disbursed. 

Federal Perkins Loans are awarded by the Medical College of Wisconsin on the basis of financial need and availability of funds. This loan has an annual maximum of $8000 and a lifetime maximum of $54,000. This loan is interest free while enrolled and during the grace and deferment periods. At the end of the allowable deferment period, interest is fixed at the rate of 5%. There is no fee associated with this loan.

This program has a fixed interest of 7.9% for the life of the loan.  You can borrow up to the total cost of attendance at MCW minus any other financial aid you receive.  There is no interest subsidy on this loan and repayment will begin 6 months after you are no longer enrolled in school. Up to a 4%-combined origination/insurance fee paid to the U.S. Dept. of Education by way of fees deducted from your check before it is disbursed. 

These funds have been donated to or solicited by the Medical College of Wisconsin for support of financially needy medical students. These loans are interest free while enrolled, during grace and through periods of deferment (such as residency). Interest rates vary but generally range from 3%-9% and are fixed for the life of the loan based on the year you borrow the money.

The Wisconsin Medical Society Student Loan program is available to rising M-2, M-3 and M-4 medical students who are Wisconsin residents.  The loan is for $5000 per year with a maximum of $15,000.  Wisconsin Medical Society Loans have a fixed interest rate of 6.8%.   These loans are given out to the students with the most need, on a first come first serve basis.  Students must submit a new application every year and must submit a biographical statement the first time they apply.  Applications can be picked up in the Financial Aid Office starting in January of each year.