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Education / Office of Financial Aid / Loan Information for Graduate Students

Federal Student Loan Information

Graduate Students

The array of loan options available to finance medical/graduate education is potentially confusing. The Financial Aid Office will work closely with you throughout your years of medical/graduate school to assure that you have the information necessary for making informed decisions. Unsubsidized Federal Direct Stafford Loan

The primary source of aid for any medical student who is a US citizen or permanent resident is the Unsubsidized Direct Stafford Loan. Like the Perkins Loan, an Unsubsidized Stafford is federally guaranteed, however there is no interest subsidy while the borrower is in school or deferment. Generally borrowers accrue rather than pay the accumulating interest during this period. For loans obtained through the Federal Direct Stafford Loan program, accrued interest is not capitalized until the end of the grace period. Currently the total unsubsidized Stafford loan amount available annually is $20,500 - $33,000, depending on your program and the length of your academic year.

The interest rate on Federal Stafford loans is fixed at 5.31% for loans disbursed after July 1, 2016. Interest accrues and capitalizes at the end of the grace period.

Application Process

Federal Direct Stafford loans are obtained simply by submitting a FAFSA (Free Application for Federal Student Assistance) and additional materials as described in the financial aid application materials provided to all interviewed applicants and current students. First-time borrowers will have to complete online promissory notes for Federal Direct Stafford loans.

Finally, If Necessary

Most students will find the Stafford loan, in combination with family support and/or other financial aid, sufficient to meet their needs. If this is not the case for you, please then consider a Federal Direct Grad PLUS Loan to meet the difference between your resources and the estimated cost of attendance. Like the Stafford Loan, a Grad PLUS Loan is federally guaranteed, and there is no interest subsidy while the borrower is in school or deferment. However, a credit check is required for a Direct Grad PLUS loan..

Additional Loan Information

Loan Chart

Evaluating a Lender

Comparison: Federal vs. Private Student Loans

For More Information:

Call us at (585) 275-4523 or email us at You can also stop by our office weekdays between 8:00 a.m. and 4:30 p.m. where our staff is available to assist you.

Herbert B.J. Revill
Director of Financial Aid

Margaret Christian
Assistant Director of Financial Aid

Emily Lindquist
Financial Aid Advisor