SGU/NU Financial Aid Info | SGU/NU Loan Application Instructions SGU/NU COA - Terms 1 & 2 |  Federal vs. Private Student Loans

St. George's University of Grenada School of Medicine/Northumbria University

Loan Programs

**Please note: Due to a change in the interpretation of US Department of Education (DOE) regulations, effective July 2011, US Citizens and permanent residents of the United States who attend the SGU/NU program will not be eligible to receive US DOE loans throughout their medical education at SGU. Student federal loan eligibility, for all foreign medical schools, is now dependent on taking the Basic Science portion of the program on the main campus.


Private Loan Application Instructions:

Students in the SGU/NU program are eligible to borrow up to their total cost of attendance in private education loans if needed.

At this time, Sallie Mae is the only lender available for students in this program.  If you are not borrowing the maximum amount, please notify your Financial Aid Counselor of the amount you would like disbursed for each term within the budget, or your loan disbursements will be split equally per term.  

Please be advised that these are private loans and interest rates as well as overall approval will be based on your credit.  You should apply online and make sure to complete and submit the Self-Certification form, as well as all required disclosure forms to the lender in a timely manner, in order to be approved for school certification.

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


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

  • Access Sallie Mae website 
  • Choose "Medical School Loans" from the available loan options listed
  • Review loan terms and conditions and if continuing with your application, click "Apply for this Loan" 
  • Complete the "Basic Information" section and choose your school 
    • (**St. George's University, School of Medicine will be listed under the "Outside the US" option)
  • Complete the "School Information" as follows:

                1.  School: St. George's University, School of Medicine, 02233300

                2. Degree/Certificate of Study: Doctor of Medicine

                3. Major/Specialty: Medical

                4. Enrollment Status: Full time

                5. Grade level: First Year Masters/Doctorate

                6. Academic Period of Loan: Provide Your Own 

   (August 2020- May 2021) or (January 2021- May 2021)

                7. Anticipated graduation/completion: June 2024

  • 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 that you can choose from:

                1. Deferred Repayment Option: no payment is required while in school and during grace period

                2. Fixed Repayment Option: Pay $25 per month, while in school and during grace period

                3. Interest Repayment Option: Full interest payment while in school and 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 ahead of time - Resolve any discrepancies prior to applying for your private student loan.
  • 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 for the loan period.
  • 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.
  • From the time you sign the final disclosure; the lender waits approximately 8 business days (waiting period) for your right to cancel and then will disburse the loan directly to the University on the scheduled disbursement date.


Deferring Prior Educational Loans

For more information on deferring your prior educational loans, please visit our Loan Deferments section.


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