Pay close attention to deadlines—we recommend that you submit all forms and other documents two weeks before the deadline—and respond to any additional requests from USC within 10 days. To monitor your status, log on to My Financial Aid & Documents.

To have your loan funds deposited in your student account, you must take additional steps. These steps must be completed no later than 30 days before the beginning of your first semester. Click on the type of loan below:

 

Borrowing to fund your medical education

The majority of medical students borrow from a variety of loan programs to fund their medical education. However, you should take into account your level of indebtedness from other academic programs when determining how much to borrow for medical school. Information on current indebtedness is available from the USC Financial Aid Office.

Sources of Funding for Medical Students

USC awards $29.4 million in need-based grants, merit scholarships, loans and work-study through a combination of state, federal, university and private funds. More than 80 percent of Keck School medical students receive some type of financial assistance from the USC Financial Aid Office. Assistance is available from the following sources:

Medloans(R) Organizer and Calculator

The AAMC has launched this new tool to provide students with a safe, secure environment to organize and manage loan information and explore loan repayment options.

The Medloans(R) Organizer and Calculator is the only calculator of its kind.  Developed by the AAMC's Financial Information, Resources, Services, Tools (FIRST) team, it is specifically designed for medical students and it is completely free for your use.  This new tool calculates detailed repayment scenarios while accurately accounting for the residency/fellowship training period. We hope that this tool will help you make solid, well-informed choices not only about how you'll repay your loans, but will help when you are deciding the amount to borrow.

The tool is located at www.aamc.org/first.  You can login with AAMC username and password or alternatively with Username: guess, Password: guest.

University of Southern California

  • University scholarships. Students must demonstrate both financial need and merit. Scholarships range from $2,000 to full tuition.
  • Emergency loans. Students may borrow up to $1,000, interest free, for up to 90 days.

Federal, Institutional and Private Loans administered by the USC Financial Aid Office

Federal Direct Stafford Loan
  • This loan is available to citizens and eligible non-citizens. The Stafford Loan has a fixed interest rate of 6.8 percent.
  • For more information, click here.

Federal Direct Graduate PLUS Loan

  • If you need further financing after you have borrowed the full Stafford Loan amount, USC suggests the Federal Graduate PLUS Loan. It is credit-based rather than need-based.
  • For more information, click here.
Loans for Disadvantaged Students
  • Available funding is extremely limited. You must exhibit financial need and meet additional criteria. To be considered, students must complete the application steps for Keck Need-Based Aid by the deadline (April 20, 2012 for both entering and continuing students). Eligibility is reviewed each year. If you are awarded the loan, it will automatically appear on your financial aid eligibility, and you will need to sign a Master Promissory Note (MPN). In July, USC Student Financial Services will send you instructions on how to complete your MPN online electronically through their e-signature process.  
  • The loan is repayable over a 10-year period. The 5 percent interest rate is subsidized until repayment begins, one year after your USC enrollment ends. (Repayment may be deferred during advanced professional training, such as an internship or residency.)
Primary Care Loan
  • Available funding is extremely limited. You must meet financial need criteria and be pursuing a career in Primary Care. To be considered, students must complete the application steps for Keck Need-Based Aid by the deadline (April 20, 2012 for both entering and continuing students). Eligibility is reviewed each year. If you are awarded the loan, it will automatically appear on your financial aid eligibility, and you will need to sign a Master Promissory Note (MPN). In July, USC Student Financial Services will send you instructions on how to complete your MPN online electronically through their e-signature process.    
  • The loan is repayable over a 10-year period. The 5 percent interest rate is subsidized until repayment begins, one year after your USC enrollment ends. (Repayment may be deferred during advanced professional training, such as an internship or residency.)

  • Borrowers agree to: enter and complete a residency training program in primary health care (a 3-year residency program in family medicine, general internal medicine, general pediatrics, combined medicine/pediatrics, or preventive medicine approved by the Accreditation Council on Graduate Medical Education) not later than 4 years after graduation from USC; practice in primary health care (family medicine, general internal medicine, general pediatrics, combined medicine/pediatrics or preventive medicine) though the date the loan is paid in full; and certify practice in primary health care, on an annual basis until the loan is paid.

  • Non-Compliance (with the service obligation) results in: the balance due on the loan will be recomputed from the date of issuance (using the original principal) at an interest rate of 18 percent per year, compounded annually; and the recomputed balance must be paid in the 3-year period beginning on the date on which the student fails to comply with the agreement.

Private Financing

  • Students should exhaust all Federal Title IV assistance available, including Federal Stafford Loan and Federal Graduate PLUS Loan before considering a private student loan program. 
  • For more information, click here.

 

 

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