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Loan & MPN Information

  

2013-14 Education Loan Information and Direct Loan Master Promissory Notes Online:

PCOM participates in the federal Direct Loan program for all federal student loans. Direct Lending offers a guaranteed source for educational loan funds. Students apply directly to the Department of Education for Stafford, Graduate PLUS, or consolidation loans, thereby simplifying the loan process. Direct Lending provides a permanent, stable lending source, timely and accurate disbursement of funds, and a single centralized unit responsible for processing all types of federal loans.  The interest rate on Direct Stafford loans is 6.8 percent for graduate students; the interest rate on Graduate PLUS loans is 7.9 percent. 

Click here to complete your online federal Direct loan Master Promissory Note and/or the federal Direct Graduate PLUS loan Master Promissory Note.  You will need your Department of Education PIN; your driver's license information and the names, addresses and phone numbers of two references.  The Department of Education will notify the Financial Aid Office of all PCOM students who have successfully completed the MPN.

Entrance Counseling:  In addition to completing the Direct Loan MPN(s), all new borrowers to the Stafford and/or Graduate PLUS loan programs must complete Entrance Counseling.  As with the MPN, the Department of Education will notify the Financial Aid Office of all students who have successfully completed the counseling. The online Entrance Counseling will take 20-30 minutes to complete.  Complete the combined Stafford/Graduate PLUS entrance counseling if you plan to borrow under both programs. PLEASE NOTE that at this time, students at both campuses should select their results to be sent to "Philadelphia College of Osteopathic Medicine, Phila, PA". 

Exit Interview:  Prior to graduation or withdrawal from PCOM, an exit interview is a required process for every student who has taken out a federal student loan. This process helps students with proper repayment management, consolidation, and the consequences of defaulting on payments. Students complete the exit interview online at www.nslds.ed.gov/nsld.

Private Educational Loan Resources
For your convenience, PCOM has developed a Private Lender List to assist you in choosing a lender. This list contains lender information for those lenders recommended by the school after a review of their application process,  terms, reliability, and service.  Many students borrow private education loans in addition to, or in place of,  federal Direct Loan programs. These funds can be used to cover the cost of any educationally related expenses.

Students can access information to compare loans online at FASTCHOICE. Here you can check eligibility requirements, interest rates, loan limits, terms and conditions, and borrower benefits. Please note that you are free to borrow from any lender. If you select a lender that is not on the PCOM Private Lender List, please inform the Financial Aid Office of the name of the lender and preferably, the lender code. You may also mail or fax a copy of the MPN to the Financial Aid Office.