Loans for Medical/Pharmacy Students


Types of Medical/Pharmacy Student Loans 

The Loan Administration and Collections (LAO) Office works closely with the School of Medicine/Pharmacy Financial Aid Office to help manage UC San Diego’s Campus-Based Loans. With the help of Heartland ECSI, the LAO Team administers and collects the repayments of the following medical/pharmacy Campus-Based Loans: 


MEDICAL LOANS 

Primary Care Loan (PCL) is funded by the Department of Health and Human Services and offers 5% fixed rate loans to students from low income backgrounds. Students must practice in primary health care for either ten years (including the years spent in residency training) or through the date on which the loan is repaid in full, whichever occurs first. This loan is deferred for full-time enrollment as well as for advanced professional training such as internships and residencies, and for a limited time for active duty as a member of the armed forces, a volunteer under the Peace Corps Act, or a health professions fellowship training program directly related to the student’s course of study.  

San Miguel Association Medical Scholarship/Loan Fund was created by the San Miguel Association in order to provide scholarship funding to students committed to practicing in the area of primary care medicine. The scholarship awards, of approximately $10,000 -$15,000 per year through the last year of school, are awarded based on academic excellence and need. Recipients must practice in the area of Family Medicine, Internal Medicine or Pediatric Medicine for three full years following the completion of their residency. Should the recipient not enter the prescribed area of medicine as planned, they must repay the funds to the Association. 

Alumni Medical Student Loan Fund was created from the contributions of UCSD School of Medicine graduates to offer moderate interest loans to underprivileged medical students. This is a subsidized, 8% fixed rate loan, which is deferred during enrollment and for up to four years of internship/residency.  

American Medical Association Foundation has funded the AMA Loan Program provides low interest loans to underprivileged medical students. This is a subsidized, 5% fixed rate loan, which is deferred during enrollment and for up to two years of internship/residency.  

CMAF (California Medical Association Foundation) Loan is supported by the California Medical Association and offers loans of up to $3,000 to underprivileged California residents who are enrolled in their final year of medical school. Loans are interest-free during school enrollment and carry a 6.5% interest rate during the repayment period. Loans are repaid approximately within three years of graduating from medical school. These loans are made possible by donations from California physicians. 

Loans for Disadvantaged Students (LDS) Program is funded by the Department of Health and Human Services and offers 5% fixed rate loans, with no fees and no interest during school or other authorized periods of deferment, to students from low income or disadvantaged backgrounds. This loan is deferred for full-time enrollment, advanced professional training such as internships and residencies, and for a limited time for active duty as a member of the armed forces, a volunteer under the Peace Corps Act, or a health professions fellowship training program directly related to the student’s course of study.  

Medical University Loan Program offers long-term, low interest loans to medical students with funding derived both from educational fee income and collections from loans being repaid by UCSD School of Medicine alumni. This is a subsidized, 5% fixed rate loan which is deferred during enrollment and for the entire length of internship/residency. 


PHARMACY LOANS 

Pharmacy University Loan Program offers long-term, low interest loans to students in the final year of their pharmacy school curriculum. This is a subsidized, 5% fixed rate loan which is deferred during enrollment and during internship/residency.  


Resources

The information listed from above was extracted from the resources listed here:  


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