Important Information Regarding Direct Loan Interest Rates for 2015-2016

Effective for loans first disbursed on or after July 1, 2015, and prior to July 1, 2016

Direct Unsubsidized Loans Fixed Interest Rate: 5.84%

Direct PLUS Loans Fixed Interest Rate: 6.84%



Important Information Regarding Loan Origination Fees for Federal Direct Loans 


For any loan disbursement for a loan where the first disbursement is/will be:

The origination fee percentage for Direct Unsubsidized Loans is:

The origination fee percentage for Grad Direct PLUS Loans is:

On or after 10/1/2015





North Carolina Forgivable Education Loans for Service Program (FELS)  

If you were a North Carolina resident one year prior to matriculating into the MD or PA Program, and you plan to work full time in NC, you qualify for this loan forgiveness program!

The FELS or Forgivable Education Loan for Service program was established by the NC General Assembly in 2011.  The first loans were available for the 2012-2013 academic year.  It is a forgivable loan to NC  MD and PA Students.  The ONLY requirement for forgiveness is to work full-time in NC!  

If you are applying for the first time, go to 


Current FELS recipients will be automatically considered for renewal after spring grades are posted.  You do NOT need to submit a new application.

If you need further information check it out on the CFNC website or contact us.  We will be happy to talk to you about it.  


                                                                     Funding for Residency Interviews

Fourth-year medical students in need of assistance covering travel costs for residency interviews may be eligible to borrow a Federal Unsubsidized Direct Grad PLUS Loan for up to $5,000. This loan will be in excess of the fourth-year cost of attendance. Please contact the Financial Aid Office for more details.

Public Service Loan Forgiveness

If you aspire to work in the public service sector, you'll find that the reward is not only emotional—but possibly monetary, as well. That's because the College Cost Reduction and Access Act of 2007 established a program that forgives some federal student loans under certain circumstances.

Program Summary:

This government program provides forgiveness for the remaining balance (principal and interest) on eligible Direct Loans after the borrower makes 120 qualifying monthly payments while working in a qualifying public service position.

Only qualifying payments made after October 1, 2007 count towards PSLF; therefore, the first forgiveness of loan balances will not occur until October 2017 (at the earliest).

Eligible Loans

Any non-defaulted loan made under the Direct Loan Program may be eligible. These include:

  • Direct Stafford Loans (subsidized and unsubsidized)
  • Direct PLUS Loans, including Grad PLUS
  • Direct Consolidation Loans

Other Federal Loans:

The following federal student loan programs may also be eligible for PSLF if they are consolidated into the Direct Loan Program*:

  • Federal Family Education Loans - (Stafford, PLUS, and Consolidation Loans)
  • Federal Perkins Loans
  • Certain Health Professions and Nursing Loans

*Only payments made on the Direct Consolidation Loan will count toward the required 120 monthly payments needed for forgiveness.  

Eligibility Requirements

1. Repayment Plans: Borrowers must not be in default on the loan(s) and must make 120 required monthly payments while in an eligible repayment plan. Eligible repayment plans include:

  • Standard Repayment
  • Income Contingent Repayment
  • Income-based Repayment
  • Other Direct Loan repayment plans, if certain conditions are met. For more information review: PSLF Program Q&As for Borrowers PDF External Link

2. Public Service Employment: Borrowers must be employed full-time (at least 30 hours per week) in a qualifying public service position (a) during the peri­od in which he or she made each of the 120 monthly payments, (b) at the time of application for loan forgive­ness, and (c) at the time the remaining principal and interest are forgiven.

Qualifying Public Service Jobs

“Qualifying public service jobs” include work in 501(c)(3) non-profit organiza­tions, and most medical schools and teaching hospitals. Sample fields include:

  • Emergency management
  • Government
  • Military service (active duty)
  • Public safety
  • Public health
  • and more*

More details about Public Service Loan Forgiveness and Employer Certification Forms can be obtained at Federal Student Aid External Link.

For more information, go to   or contact our office.



 National Health Service Corps

Interested in primary care? Have a passion for serving medically underserved communities? NHSC could help pay for your education or and pay off your loans for you. Visit to learn more about their programs and see if one is a fit for you!





Quick Reference

Financial Aid

Phone: 336-716-4264
Fax: 336-716-9593


Mon - Fri 7:30 am - 4:30 pm
Location: 3rd Floor Watlington Hall, Wake Forest School of Medicine, Medical Center Blvd., Winston Salem, NC 27157-1090
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Last Updated: 11-13-2015
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Disclaimer: The information on this website is for general informational purposes only and SHOULD NOT be relied upon as a substitute for sound professional medical advice, evaluation or care from your physician or other qualified health care provider.