Student Loans

American Global University School of Medicine offers a unique student loan program to qualified enrolled students.

Financial aid application materials consist of the school of medicine financial aid application, entrance interview checklist, loan application and promissory note addendum, and when applicable, documentation of citizenship, permanent residency or eligible status.

It is important that medical students anticipating the need for financial assistance at any time during their education undertake early long-term planning. Financial Aid Office welcomes the opportunity to help students develop these plans.

In some cases, because both the personal contribution and sources of financial aid are limited, a student may be unable to enroll in medical school. Students who believe they may be unable to attend the school due to financial constraints should call Financial Aid Office, for information and counseling.

Students may wish to research and pursue outside sources of financial aid as well. However, the responsibility for paying for the cost of attendance is solely that of the student.

Financial Aid Available

Directions:

U.S. Mailing Address
118 Graceland, Blvd., Suite 311
Columbus, OH 43214
United States
Phone: + 1 866.990.2AGU (2248)
Fax: + 1 312.873.3815
Email: admissions@agusm.org

1. Complete the application

2. Please contact your undergraduate institution and have them mail your OFFICIAL transcripts directly to the AGUSM Registrar’s Office at the address provided with your Bachelor’s or Master’s degree awarded.  There is a requirement of a GPA of 2.75 on your Bachelor’s.

• • Please forward your most current resume or CV.
  • Please forward two letters of recommendation.  You can use the same letters you used for med school.
  • Keep in mind, if you do not have an MCAT, GMAT, GRE or LSAT, you are able to take your first three classes.  However, before you take your fourth class an admissions test will be required.
  • If you have taken the MCAT, please send me the official copy of your MCAT scores.  You can access these at https://services.aamc.org/mcatthx/ and simply email admissions@agusm.org with the official scores on it.  Please make sure there is a verification code on the score page.

3.  In the meantime, if you plan to use financial aid, you will want to visit www.fafsa.ed.gov and complete the 2010-2011 FAFSA.

5.  Our financial aid is also able to accommodate Military GI Bill benefits, and they offer an addition 25% off of your tuition if you have served within the U.S. Military.  Be sure to inquire if you have these benefits available to you.

Eligibility:

• Full time students and accepted applicants, who are U.S. citizens or Permanent Residents may qualify for the affiliated loan program.
• Students and accepted applicants from other countries require a cosigner. A cosigner must be a creditworthy U.S. Citizen or Permanent Resident.

This program will be granted to students who demonstrate financial need as well as integrity, motivation and commitment to their chosen profession. Fostering the education of future generations of students is a mission that reflects the spirit on which AGUSM was built. Recipients will be those who, in our estimation, will be the best of the AGUSM 's graduates.

United States

Qualified citizens and permanent residents of the United States may receive funding from privately sponsored loan programs to fully cover the cost of attendance (tuition, books & supplies, accommodation and travel).

Student borrowers are awarded loan funds to pay for their education on the basis of a promise to repay after finishing the school. Failure to do so can result in adverse consequences.

Student are responsible for all accruing interest and may choose to repay the interest while in school or defer it until repayment begins. Repayment usually begins when a student graduates or otherwise ceases to be enrolled, however under certain conditions, the borrower may continue to postpone repayment during the medical residency. Students may borrow up to $40,000 per academic year with the cumulative loan amount of up to $150,000. The maximum repayment term is 15 years.

To receive student loans, recipients must be either permanent residents or citizens of the United States, be enrolled in the Medical Sciences Program at least half-time, maintain satisfactory academic progress, and not be in default on any prior financial obligations.

For more information on eligibility for student loans, interest rates, and loan disbursement, please contact the Office of Financial Aid.

Canada

A private loan source is also available for Canadian students. Medical college students from most Canadian provinces are eligible for Canadian Student Loan programs. These loans are approved by the Ministry of Education of each province. The funds are advanced by a Canadian bank or credit union selected by the student.

Eligible students usually borrow $10,000 per semester. However, the amount can vary in different provinces. Interested students should contact their banks and provincial Canadian Student Loan offices for details and applications.

Private loans are also available to qualified Canadian students from numerous Canadian banks. Our Financial Aid office would be happy to provide you with exact contact information and details of the application procedures specific to the region of Canada that you belong to.

Other Countries

International Loans

Students who are residents or citizens of countries other than the United States may receive small loans for partial tuition from the University. The loans do not have to be repaid until after the student graduates or otherwise separates from the University. The loans accrue interest at 3% above US prime rate. The amounts of the loans vary, but they generally do not exceed one third of the tuition and fees.