Loans

When students apply for financial aid, they can be offered loans as part of their financial aid offer. A loan is money that is borrowed and must be paid back, usually with interest. Student and Parents loans can come from the federal government, private lenders, or other organizations.

Federal Student Loans

Direct Subsidized Loan

This loan is available to eligible undergraduate students with a demonstrated financial need based on their FAFSA application. This loan does not accrue interest while the student is enrolled in school at least half-time.

Direct Unsubsidized Loan

This loan does not take into consideration financial need and is available to both undergraduate and graduate students. Interest begins accruing once the loan is disbursed.  

Graduate PLUS Loan

Direct PLUS loans can help pay for educational expenses that isn't covered by other forms of financial aid. Direct Graduate PLUS loans are commonly referred to as a grad PLUS loan. To be eligible, graduate and professional students must be enrolled at least half-time, not have an adverse credit history, and otherwise be eligible to receive federal financial aid.

Federal Parent Loans

Direct PLUS loans can help pay for educational expenses that isn't covered by other forms of financial aid. Direct Parent PLUS loans are commonly referred to as a Parent PLUS loan. To be eligible, you must be the biological or adoptive parent or stepparent of a dependent undergraduate student enrolled at least half time, not have an adverse credit history, and otherwise be eligible to receive federal financial aid.

Private and Alternative Loans

Families who need additional funding beyond federal loans can consider a private or alternative loan through a bank of lender of their choice. While SUNY Upstate Medical University cannot recommend any particular lender, we encourage potential borrowers to compare lenders and loan terms to select the lender that is the best fit for your needs. Students are responsible for researching and applying for their loans and can borrow up to the total cost of attendance minus any other financial aid they are receiving.

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Primary Care Loans

Primary care loans are a loan program that provides long-term, low interest rate loans to full-time, financially needy students to pursue a degree in allopathic or osteopathic medicine. Additional information may be obtained by contacting the SUNY Upstate Medical University financial aid office.