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Loan Programs

Direct Unsubsidized Stafford Loans:

Physician Assistant students may be eligible to borrow up to $20,500 in Direct Unsubsidized loans per academic year.  There is no requirement to demonstrate financial need.  The interest rate for Direct Unsubsidized loans first disbursed on or after 7/1/18 and before 7/1/19 is fixed at 6.6%.  Interest begins accruing on the date of disbursement and will continue to accrue during periods of enrollment, grace, and deferment.

Direct Lending deducts a loan fee at the time of each disbursement. The fee for loans first disbursed on or after 10/1/17 and before 10/1/18 is 1.066%.  The fee for loans disbursed on or after 10/1/18 and before 10/1/19 is 1.062%. 

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment.

NOTE: The total outstanding debt a Physician Assistant student can have from all Direct Loans (Subsidized and Unsubsidized combined) is $138,500. Outstanding loans received from both the FFEL and Direct Loan Programs for undergraduate and graduate education are included in this aggregate total.

Direct Grad Plus Loans

The maximum amount a PA student may borrow in Direct Grad PLUS loan is the cost of attendance minus any other financial aid received for that same academic period. There is no lifetime aggregate limit.  There is no requirement to demonstrate financial need to borrow a PLUS loan.  A credit check is required.  If you have an adverse credit history, you could be denied by the lender. If denied, you may appeal or you may reapply with a credit-worthy endorser.

The interest rate on Direct Grad PLUS Loans disbursed on or after 7/1/18 and before 7/1/19 is fixed at 7.6%. Interest begins accruing on the date of disbursement and will continue to accrue during periods of enrollment, grace, and deferment.

Direct Lending deducts a loan fee at the time of each disbursement. The fee for loans first disbursed on or after October 1, 2017 and before October 1, 2018 is 4.264%.  The fee for loans disbursed on or after 10/1/18 and before 10/1/19 is 4.248%.

If you receive a Direct PLUS Loan as a graduate or professional student, you don't have to make any payments while you're enrolled in school at least half-time, and for an additional six months after you graduate, leave school, or drop below half-time enrollment. 

For more information on both loan programs, go to: 
https://studentaid.ed.gov/types/loans 

 

 

Jonah Scent, Financial Aid Officer

LMU-DCOM Financial Services Office

6965 Cumberland Gap Parkway

Harrogate, TN  37752

Email: jonah.scent@LMUnet.edu

Office: 423.869.7096; 800.325.0900, ext. 7096

Fax: 423.869.7172

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423.869.3611 | 800.325.0900
6965 Cumberland Gap Parkway
Harrogate, TN 37752