School of Arts and Sciences

Financial Aid Options for US Students in the Foundation to Veterinary Medicine Program

 

As you pursue your goal of a medical education at St. George's University, an important consideration will be the financing of your education. It's important for students to understand, before they matriculate, the costs associated with attending school and what financial aid is available to them in order to make a workable financial plan.

US citizens and permanent residents in the Foundation to Veterinary Medicine program are eligible to apply for a private education loan through Sallie Mae.  At this time, Sallie Mae is the only lender that is available for providing loans to students in this program. International students are not eligible to apply for this loan.

Private Education Loans are credit based, and interest rates vary (currently 3.87%-11.85%, depending upon specific lender criteria, credit worthiness, and whether or not the borrower chooses a fixed or variable interest rate).  A cosigner may be required to secure a private education loan. 

Below is an estimated cost of attendance for the program. You are eligible to borrow student loans in any amount up to this cost of attendance if needed. Review the budget below to determine your financial need for the program. If it is determined that you will need to apply for a student loan, follow Application Instructions outlined below.

Please make sure that once you have applied for your private loan you notify your Financial Aid Counselor in order to expedite school certification.

 

2018-19 Student Budgets

August 2018 Student Budget

 

January 2019 Student Budget

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Instructions

To apply for a Sallie Mae Smart Option Student loan, the following steps must be completed:

  • Visit www.salliemae.com and choose "Undergraduate Student Loans" from the options provided
  • Choose "Apply for this Loan" to begin your Smart Option Student Loan application
  • Complete the "Basic Information" section and choose your school 
    • St. George's University, School of Veterinary Medicine will be listed under the "Outside the US" option
  • Complete the "School Information" as follows:
    • School: St. George's University, School of Veterinary Medicine, 03974300
    • Degree/Certificate of Study: Certificate
    • Major: Veterinary
    • Enrollment Status: Full time
    • Grade level: Certificate/Continuing Ed.
    • Academic Period of Loan: Provide Your Own; August  2018 - December 2018 or January 2019 - May 2019
    • Anticipated graduation/completion: December 2018 or May 2019
    • Complete the "Loan Amount" section using the information from your estimated cost of attendance
  • Follow the instructions to complete the rest of your application and submit

 

Sallie Mae has various repayment options:

  • Interest Repayment Option: Full interest payment while in school and during grace period
  • Fixed Repayment Option: Student's pay $25 per month, while in school and during grace period
  • Deferred Repayment Option: no payment is required while in school or during grace period

** There are no prepayment penalties under any of these repayment plans, and making payments on your loan whenever possible is encouraged to minimize total overall debt.

Please make sure that all contact information included on your application for both yourself and your cosigner (if applicable) are completely accurate. Sallie Mae may try to contact you if they have any inquiries or are unsure about something on your or your cosigner's credit report that could improve the possibility of a loan approval. If Sallie Mae is unable to contact you in order to verify information, and cannot reach you after two attempts, your loan application will automatically be denied.

St. George's University is committed to ensuring that all students are aware of all of their financial aid options and we have designated a counselor to work directly with you to address your questions and needs. Please contact your Financial Aid Counselor with any questions or concerns or for additional information regarding the financial aid process and costs.

 

Tips and Tools for Private Loans:

  • Request your credit report: resolve any discrepancies prior to applying for your private student loan. (www.annualcreditreport.com)
  • Private loans carry a variable interest rate and are credit based.
  • Apply for your private student loan within the 180 day window of disbursement, as your credit is valid for 180 days.
  • The amount you apply for will be the amount that is certified up to the cost of attendance.
  • If you apply for less than the cost of attendance, your disbursements will be split equally per term, unless otherwise requested.
  • If your loan application is denied, please submit endorser (cosigner) information as soon as possible. The lender can take 7 to 10 business days to verify credit information of your cosigner.
  • The lender requires your signature on a final disclosure in order to assign disbursement dates.
  • You must sign this disclosure form within 60 days of the loan approval.

 

Deferring Prior Educational Loans

You are eligible for deferment of loans that you borrowed at institutions you attended prior to your matriculation at St. George's University School of Medicine. You should access the web site of the servicer of the loan(s) you wish to defer, and download an In-School Deferment Form. Completed deferment forms should be sent to the Registrar's office at regmail@sgu.edu.

For additional information regarding student loan deferment, please visit our Deferments section.

St. George's University is committed to ensuring that all students are aware of all of their financial aid options and we have designated a counselor to work directly with you to address your questions and needs. Please contact your Financial Aid Counselor with any questions or concerns or for additional information regarding the financial aid process and costs.

 

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