For the incoming class, please wait to complete these steps below until you have returned your signed award letter accepting student loans.
Loans
Beginning Fall 2010, ETSU Quillen College of Medicine (School Code E003487) began using the Federal Direct Loan Program administered by the U.S. Department of Education in order to make the student loan process as easy as possible. All students (including new, transfer, and continuing) must have their Unsubsidized Loans and PLUS Loans borrowed/processed through the Federal Direct Loan Program .
All federal loan borrowers must complete the Direct Loan Master Promissory Note (MPN) and Entrance Loan Counseling.
Federal Direct Loan Program
Loans awarded based on a student's dependency status, financial need, cost of attendance, and grade level. These Direct Loans will be unsubsidized loans and available based on the student's cost of attendance and other financial aid. These loans require the student to pay or accrue the interest while enrolled, although the principal amount of the loan is deferred. Borrowers begin repaying both Unsubsidized and Plus Federal Direct loans at the end of at least half-time enrollment.
Direct PLUS Loans are federally guaranteed loans for graduate/professional students who have additional financial need beyond what their Direct Unsubsidized Loans may cover.
Student Loan Repayment
Interest Rate on Direct Unsubsidized and Graduate Plus Loans
- 25-26 Loans disbursed 7-1-25 thru 7-1-26 **CURRENT**
-
- 7.94% for Direct Unsub
- 8.94% for Grad Plus
For Federal loans disbursed before June 30, 2006 the interest rate is variable.
- 24-25 Loans rates disbursed from 7-1-24 thru 7-1-25 **
- 8.08% for Direct Unsub
- 9.08% for Grad Plus
Federal Direct Loan Origination Fee Changes
- On or after 10/1/20 **CURRENT**
- 1.057% origination fee for Direct Unsub
- 4.228% origination fee for Direct Grad Plus
Rights and Responsibilities
Here you can find Student Borrower Rights and Responsibilities Statement Information.