Student Loans

By using the standard student budget as a start, and incorporating as many cost-saving measures as is possible, one can begin to organize resources to meet the financial requirements. There are a finite number of resource types and the availability and amount available from each type will vary by individual. Normally, 80% of students at Pritzker meet the cost of their education using a combination of five or six of these resources. Typically, a student will manage with a financial arrangement comprised of personal resources and family loans and gifts, private scholarships, Pritzker scholarships and loans, and governmental loans. Eligibility for some of the resources depends on financial need: the shortfall that occurs when available family resources are less than the standard student budget.

To request a revision to your loan, please complete the Loan Revision Form.

The Pritzker School of Medicine is able to offer low interest loans as a result of generous donors. Such donors consist of alumni, faculty, grateful patients, and friends of the University and University of Chicago Medicine. Award of these loans is made as part of a financial aid package based on financial need.

An Unsubsidized Direct loan is the primary source utilized by students to finance their medical education. Direct Loans are federal loans which have a variable-fixed interest rate which is currently 6.7% for loan disbursed on July 1, 2018 or before June 30, 2019. The Unsubsidized Direct Loan accrues interest while you are in school and is the students responsibility to repay. The Office of Financial Aid will determine your eligibility for these loans.

Student Loan Schedule

Year Length of Academic Year Total Loan Amount
MS1              10.5 months           $42,722
MS2                9 months           $40,500
MS3              12 months           $47,167
MS4              12 months           $47,167

Aggregate loan amounts not to exceed $224,000 including Undergraduate Loans

The Grad Plus loan is a federal loan available to graduate and professional students. In the Direct Loans program, Grad Plus loans have a variable-fixed interest rate which is currently 7.6% for loan dibursed on July 1, 2018 or before June 30, 2019.   It does not offer a grace period. In addition, the interest on these loans is not subsidized. Email the Office of Financial Aid for more information.