Foundation Offers Low-Interest Loans to Pennsylvania Medical Students
HARRISBURG, Pa.— The Foundation of the Pennsylvania Medical Society is accepting applications from students attending a fully accredited Pennsylvania medical school. Additionally, the student must be a Pennsylvania resident for at least 12 months prior to attending medical school and not for the sole purpose of obtaining an undergraduate or graduate degree or post-baccalaureate education. Below are highlights of the program:
- No application or origination fees.
- Individual loan awards up to $10,000 (minimum $6,000).
- No payments required during school or graduate training (i.e., internship, residency, or fellowship training).
- Deferment up to five years for graduate training.
- Interest rate will not exceed six percent during school or graduate training.
- School and deferment interest rate is the 91-day, Treasury-Bill note plus 3.5 percent.
- May choose monthly installments following graduate training by signing a new promissory note for an Amortizing Loan.
- Amortizing Loan Note term is up to 10 years with a fixed interest rate.
Application submission deadline: Students should submit an application to their Pennsylvania medicalschool's financial aid office by May 15, 2018.To apply, download the loan application from the website and submit it according to the submission instructions. Call (717) 558-7854, or visit the Student Financial Services page under www.foundationpamedsoc.org for more information. Also, please check out information about medical education scholarships.
The Foundation of the Pennsylvania Medical Society provides programs and services for individual physicians and others that improve the well-being of Pennsylvanians and sustain the future of medicine. Visit us at www.foundationpamedsoc.org.