• Individual loan up to $7,000; minimum $3,000
• Aggregate total up to $21,000
• Interest rate will not exceed 6% during school or deferment
• School and deferment interest rate is 91-day, T-Bill note plus 2%
• Deferment up to 5 years during internship, residency, or fellowship
• Repayment period up to 10 years; minimum annual payment of $500
• Accrued school interest will not capitalize until repayment
• No payments required during school or deferment
• Loan will never be sold
• No loan fees

Things to Know

• Loans are for single academic year
• Applications are for upcoming academic year
• Repayment begins at end of deferment
• Interest rate is fixed during repayment
• Repayment interest rate is not less than 2.5% and not more than 8.25%
• Automatic monthly direct payment plan available
• Upon maturity, loan may be paid in full or monthly installments (installment plan requires new promissory note)
• Awardees must apply for Pa. Medical Society membership (Free!)

Eligibility
You must have completed a Free Application for Federal Student Aid (FAFSA) form and be:

• A United States citizen
• A Pennsylvania resident for at least 12 months before registering as a medical student (not including time spent attending an undergraduate/graduate school in Pennsylvania)
• Enrolled full time in an accredited Pennsylvania medical school
• In good standing with other creditors
• A student member of the Pennsylvania Medical Society (FREE for students); if needed, the Foundation will provide application upon funding

Applications

Students attending all Pennsylvania medical schools except LECOM should mail a medical student loan application to their school's financial aid office by May15 (must be done annually).

Exception: Students attending Lake Erie College of Osteopathic Medicine (LECOM) should mail a LECOM medical student loan applications to the Foundation's office by June 1.

For additional information
Monday-Friday, 7:30 a.m. to 4:30 p.m.

Phone: (800) 228-7823, ext 7852 (in PA) or (717) 558-7854 or (717) 558-7852
Fax: (717) 558-7818
studentservices-foundation@pamedsoc.org
www.foundationpamedsoc.org

Mailing Address:
The Foundation of the Pennsylvania Medical Society
777 East Park Drive
PO Box 8820
Harrisburg, PA 17105-8820