Touro College | School of Health sciences

FINANCIAL AID

LOAN PROGRAMS

	Federal Subsidized Stafford Loan	Federal Unsubsidized Stafford Loan	Federal Grad PLUS Loan	Private / Alternative Loan
Interest Rate	Fixed at 6.8% for Graduate loans. Undergraduate loans are on a variable rate. (Interest- free while in school)	Fixed at 6.8% (Interest accrues from the date of disbursement)	Fixed at 8.5% (Interest accrues from the date of disbursement)	Variable (Interest accrues from the date of disbursement)
Fees	Fees for origination vary from 0 - 2.5%	Fees for origination vary from 0 - 2.5%	Fees for origination vary from 0 - 4%	Fees vary based on lender, loan type and credit history.
Annual Loan Limits	$3,500.00 - 1st Year $4,500.00- 2nd Year $5,500.00 - 3rd 4th Year $8,500.00 - Graduate Program	$6,000.00 - 1st 2nd Year $7,000.00 - 3rd 4th Year $12,000.00 - Graduate Program	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	No credit check No cosigner required No debt-to-income scoring	Credit check required No cosigner required No debt-to-income scoring	Credit check required Cosigner may be required Debt-to-income scoring may be required
Application Process	1. File a FAFSA. 2. Complete the Student Loan Request Statement and Financial Aid Packet. Both forms must be returned to the Financial Aid Office for processing. 3. If a first time borrower, you will need to choose a lender and complete an Electronic Master Promissory Note (eMPN) and take an Entrance Test. 4. Accept the offered loan amounts on Award Letter.	Same as Federal Subsidized Stafford loan	1. File a FAFSA. 2. Accept the entire offered amount of Subsidized and Unsubsidized Stafford loan. 3. Apply directly with chosen lender. 4. If a first time borrower, complete an Electronic Master Promissory Note (eMPN). 5. Accept the offered loan amounts on Award Letter.	1. FAFSA is not required. 2. Apply directly with chosen lender. 3. If a first time borrower, complete a Master Promissory Note (MPN).
Deferment/Forbearance	Available	Available	Available	Depends on lender
Repayment	Grace period is 6 months after graduation or last day of attendance. Maximum term 10 to 25 years	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

*Unsubsidized loan amount is for independent students only. Dependent students are only eligible for $2,000.00.

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Policy of Non-Discrimination

Touro College does not discriminate on the basis of race, color, national origin, sex, disability, age, sexual orientation or any other characteristic protected by law in employment, or in its admission, treatment or access to its educational programs or activities.

The following person has been designated to handle inquiries regarding Touro College’s nondiscrimination policies:

Ms. Rosie Kahan, Director of Human Resources
27-33 West 23rd Street
New York, NY 10010-4202
212-463-0400, Ext. 5706

For additional information, please contact the U.S. Department of Education Office for Civil Rights at http://wdcrobcolp01.ed.gov/CFAPPS/OCR/contactus.cfm or (800) 421-3481.