Federal Loans
To receive Federal loan for either the DMD, PASS, Advanced Graduate Degree, or Graduate Dental Education (GDE) Program , you must hold U.S. citizenship or be a permanent resident of the U.S. Students are required to complete the student and parents section of the Free Application for Federal Student Aid and submit parents’ W2s via the following link:
https://srfs.upenn.edu/financial-aid/apply/graduate-checklists/dental
It is important to remember that your credit history is one of the most important factors used in determining your loan eligibility. Most loan programs require some form of credit evaluation. If you have defaulted on a previous educational loan, you are ineligible for future loans.
Need-based Federal Loans
Health Professions Loan (HPL)
Federally subsidized Health Professions Loans are awarded to four-year DMD students who are U.S. citizens or permanent residents and demonstrate exceptionally high need. This loan carries a 5% interest rate upon repayment, and repayment begins 12 months after graduation with ten years to repay. Students are required to complete the student and parents section of the Free Application for Federal Student Aid and submit parents’ W2s via the following link:
https://srfs.upenn.edu/financial-aid/apply/graduate-checklists/dental
Parental and student taxes are mandatory for eligibility. Eligibility is assessed only when all completed financial aid documents are submitted.
Non Need-based Federal Loan Opportunities
The Federal Direct loan program enables all full-time DMD students to borrow between $40,500 and $47,166, depending on their year in school. Graduate Dental Education (GDE) and Master students’ eligibility maximum is $20,500. The entire loan is unsubsidized, with interest accruing from the date of disbursement. The interest rate is set annually every July 1. Maximum aggregate eligibility is $224,000 including undergraduate borrowing. The Federal government charges an origination fee for money borrowed.
The Federal Direct loan program enables full-time students to borrow up to the cost of attendance. The entire loan is unsubsidized, with interest accruing from the date of disbursement. The interest rate is set annually every July 1 for the academic year and is fixed for the life of the loan. The federal government charges an origination fee for money borrowed.