Yale School of Medicine Loan
The Financial Aid Office administers these loans from a variety of institutional funds and other Yale-controlled funds such as specially endowed or named loan programs. The selection of one or more types is coordinated through the Financial Aid Office and depends on your financial need and other criteria (interest in a particular field, etc.). This loan program requires a creditworthy co-signer who is a citizen or permanent resident and cannot be either a student or your spouse. No separate application is required. If you are selected as a recipient of one of these loans, you will be notified on your award letter.
This is a need based program and only available to those who qualify according to the Need Access analysis. This is a Yale-administered loans and are authorized by the Director of Financial Aid. If you are awarded Yale Medical School Loans, your promissory not will be generated after you have accepted your financial aid award and you have returned all other the forms in your original financial aid package. No loan will be credited to your account until the note is signed. All loans must be signed before the end of the school year. If you will be away from the Yale campus for a long period, you should give the Financial Aid Office an address where you can be reached.
Because the signing of any loan note carries with it the obligation of repayment after graduation, you should discuss the provisions of the various programs with the Director of Financial Aid and with counselors at the Student Loan Office. It is important for you to have a long-range loan plan so you know what is expected of you and can plan ahead.
Click here to view the Truth in Lending certification statement and the application and solicitation disclosures.
Terms and Conditions
- Interest Rate is 7.5%
- Co-Signer is required and must be a U.S. Citizen or Permanent Resident
- Loan is interest free while you are in school
- Grace period of 6 month
- Up to 2 years of deferments while in residency
- 10 years to repay the loan