Loan Information

Federal Loans

Federal Unsubsidized Stafford and Graduate Plus loans are the loans most popularly utilized by students at Wake Forest School of Medicine.  Both loans offer a six month grace period at the end of medical school and eligibility for Public Service Loan Forgiveness (PSLF). 

Both the Stafford and Grad Plus loans require a Promissory Note from the Department of Education as well as Entrance and Exit Counseling.

Types of Federal Loans

  • Federal Stafford Unsubsidized Loan
    • A low-interest loan from the Federal government.
    • Interest begins to accrue on the date of disbursement and continues to accumulate while you are in school.  The interest will capitalize when you are no longer a full-time student or you have graduated.  
    • Repayment begins six months after graduation or withdrawal from school (see the Office of Financial Aid if you are planning a research year or leave of absence).
    • The Unsubsidized Stafford Loan is subject to an origination fee.
    • There are annual and lifetime aggregate limits for this loan dependent on your program and academic year. 
  • Federal Graduate Plus Loan
    • A low-interest loan from the Federal government.
    • Interest begins to accrue on the date of disbursement and continues to accumulate while you are in school.  The interest will capitalize when you are no longer a full-time student or you have graduated. 
    • Repayment begins six months after graduation or withdrawal from school (see the Office of Financial Aid if you are planning a research year or leave of absence).
    • The Grad PLUS Loan is subject to an origination fee.
    • You may borrow up to Cost of Attendance (COA). We will utilize the Unsubsidized Stafford Loan to its maximum extent prior to originating a Grad Plus Loan.
    • Grad Plus loans are credit based.  Credit review is based on delinquencies and bankruptcies, but not credit score.

Additional information on federal loans can be found at https://studentaid.ed.gov/sa/types/loans.  

Private Loans

Private loans are available to students, however students are encouraged to seek counsel from the Office of Financial Aid before pursuing a private loan.  Comparison information between federal and private education loans can be found at the AAMC website.

Quick Reference

Financial Aid

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

Email:
finaid@wakehealth.edu

Hours
Mon - Fri 7:30 am - 4:30 pm

Location: 

Bowman Gray Center for Medical Education, 1st Floor, 475 Vine St.

Mailing Address:

Office of Financial Aid
Wake Forest School of Medicine
PO Box 573183
Winston Salem, NC 27157

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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.

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