For information about processing loans please visit the University loan office website.
Students may apply to borrow two federal loans by filling out the FAFSA. These federal loans are the Direct unsubsidized and Graduate Plus loans.
Please visit studentaid.gov to review the status of your federal loans and for more information on your loan servicers. Click here for guidance on how to locate your federal loan servicer.
Lender: US Department of Education; promissory note/application forms are provided by the Brown Loan Office
Based on Need: No, but may not exceed the cost of attendance for the year less other aid
Annual Borrowing Limit: Up to $47,160
Aggregate Borrowing Limit: $224,000 (less aggregate subsidized Direct loan amount)
Loan Fees: 1.059% Origination Fee on or after 10/01/19 and before 09/30/2020
Interest Rate: Fixed rate of 5.28% AY21-22
Interest Subsidized In School: No
Interest Subsidized During Grace: No
Interest Subsidized During Deferment: No
Deferment Options: Half-time student status; graduate fellowship or rehabilitation training period; unemployment or economic hardship (up to 3 years)
Grace Period: 6 months
Repayment Requirements: Choice of standard (fixed), graduated, extended, income-contingent or income-based repayment, up to 25 yrs to repay. Direct loans are eligible for consolidation.
Prepayment Penalties: None
Lender: US Department of Education; promissory note/application forms at StudentLoans.gov. Available May 1. Best time to apply is after June 15. A credit check will be performed and is kept on file for 180 days.
Based on Need: No, but may not exceed the cost of attendance for the year less other aid
Annual Borrowing Limit: No limit
Aggregate Borrowing Limit: No limit
Loan Fees: 4.236% on or after 10/01/2019 and before 09/30/2020
Interest Rate: 6.3% for AY21-22
Interest Subsidized In School: No
Interest Subsidized During Grace: No
Interest Subsidized During Deferment: No
Deferment Options: Half-time student status; graduate fellowship or rehabilitation training period; unemployment or economic hardship (up to 3 years)
Grace Period: 6 month automatic deferment from time of separation if issued after 6/08
Repayment Requirements: Choice of standard (fixed), graduated, extended, income-contingent or income-based repayment, up to 25 yrs to repay. Stafford loans are eligible for consolidation.
Prepayment Penalties: None
Lender: Brown University (through funds made available from Brown and the federal government)
Based on Need: Yes, based on parental and student/spouse resources. For PCL: Recipients must agree to 1) enter and complete a primary care residency within four years of medical school graduation, and 2) practice in primary care until the loan is paid in full. Primary care is defined as family medicine, general internal medicine, general pediatrics, preventive medicine, or osteopathic general practice.
Annual Borrowing Limit: Not to exceed cost of attendance
Aggregate Borrowing Limit: No aggregate limit
Loan Fees: None
Interest Rate: Fixed rate of 5%
Interest Subsidized In School: Yes
Interest Subsidized During Grace: Yes
Interest Subsidized During Deferment: No
Deferment Options: Throughout residency (4 years for PCL, unlimited for LDS) and 2 years fellowship; up to 3 years while serving in active military duty, Public Health Service Corps, Peace Corps/VISTA or as full-time volunteer for a tax-exempt organization
Grace Period: 12 months for PCL/ 12 months for LDS
Repayment Requirements: Min. $40/month, 10 to 25 yrs to repay; PCL Loan may not be consolidated with other student loans; LDS Loan may be consolidated with other student loans.
Prepayment Penalties: None