Financial Aid

Ellwood Loans

Lender: Brown University
Based on Need: Yes, based upon parental and student/spouse resources
Annual Borrowing Limit: $3,000
Aggregate Borrowing Limit: $12,000
Loan Fees: None
Interest Rate: Fixed rate of 7% for loans borrowed after June 30, 2011. Fixed rate of 9% for loans borrowed prior to June 30, 2011.
Interest Subsidized In School: Yes
Interest Subsidized During Grace: Yes
Interest Subsidized During Deferment: Yes
Deferment Options: Three year residency deferment if borrowed after June 30, 2011. One-year residency if borrowed prior to June 30, 2011.
Grace Period: 6 months
Repayment Requirements: Min $25/month, max. 10 yrs to repay
Prepayment Penalties: None

Medical/Casperson/Kaplan Loans

Lender: Brown University
Based on Need: Yes, based upon parental and student/spouse resources
Annual Borrowing Limit: Determined by Office of Financial Aid
Aggregate Borrowing Limit: Determined by Office of Financial Aid
Loan Fees: None
Interest Rate: 7%
Interest Subsidized In School: Yes
Interest Subsidized During Grace: Yes
Interest Subsidized During Deferment: Yes
Deferment Options: 3 year residency deferment
Grace Period: 6 months
Repayment Requirements: Min $25/month, max. 10 yrs to repay. Late fee: 10% of monthly payment
Prepayment Penalties: None

Plitt/Anderson Loan

Lender: Brown University
Based on Need: Yes, based upon parental and student/spouse resources
Annual Borrowing Limit: Determined by Office of Financial Aid
Aggregate Borrowing Limit: Determined by Office of Financial Aid
Loan Fees: None
Interest Rate: 5%
Interest Subsidized In School: Yes
Interest Subsidized During Grace: Yes
Interest Subsidized During Deferment: Yes
Deferment Options: 3 year residency deferment
Grace Period: 6 months
Repayment Requirements: Min $50/month, max. 10 yrs to repay
Prepayment Penalties: None