PharmD Financial Aid

The following is an overview of the loan programs available through the USC School of Pharmacy’s Financial Aid Office:

Pharmacy Health Profession Student Loan (HPSL)

  • Pharmacy students who complete parental information on the Free Application for Federal Student Aid (FAFSA) and submit a copy of their and their parents’ 2016 federal tax return, including W-2 forms, will be considered for this loan.
  • Loan amount varies every year based on availability of funds.
  • This is a need-based subsidized loan (no interest while in school) with a fixed interest rate of 5% and a 10-year repayment period that begins 12 months after graduation or when the student falls below half-time enrollment.
  • If you are awarded the loan, it will automatically appear on your Statement of Financial Aid Eligibility. You will receive a notification from Student Financial Services to sign a Master Promissory Note (MPN) in late July (fall promissory note) and December (spring promissory note).

Loans for Disadvantaged Students (LDS)

  • Pharmacy students who complete parental information on the FAFSA and submit a copy of their and their parents’ 2016 federal tax return, including W-2 forms, will be considered for this loan.
  • Loan amount varies every year based on extremely limited funds.
  • This is a subsidized loan (no interest while in school) with a fixed interest rate of 5% and a 10-year repayment period that begins 12 months after graduation or when student falls below half-time enrollment.
  • If you are awarded the loan, it will automatically appear on your Statement of Financial Aid Eligibility. You will receive a notification from Student Financial Services to sign a Master Promissory Note (MPN).

Federal Direct Stafford Loans

  • This loan is available to US citizens and permanent residents.
  • Interest rate on the Unsubsidized Stafford loan disbursed between July 1, 2018 and June 30, 2019 is 6.6%.
  • A Federal Origination Fee will be deducted from each disbursement:
    • 1.066% for all loans made on or after October 1, 2017 – October 1, 2018
    • Starting October 2018 and before October 1, 2019 origination fee will be 1.062%.
  • Doctor of Pharmacy students may receive a maximum of $33,000 annually. If you have been awarded a Stafford Loan, you must apply to receive the funds.

More Information about Federal Direct Stafford Loans.

Federal Direct Graduate PLUS Loan

  • This loan is available to US citizens and permanent residents.
  • If you need additional financing after you have borrowed the full Stafford Loan amount, you may wish to consider this low-interest, credit-based federal loan.
  • The current interest rate is fixed at 7.6% for loans disbursed between July 1, 2018 and June 30, 2019.
  • Postpone payments up to 60 months while student is in school at least half-time.
  • There is no pre-payment penalty.
  • A Federal Origination Fee will be deducted from each disbursement:
    • 4.264% for all loans made on or after October 1, 2017 – October 1, 2018.
    • Starting October 2018 and before October 1, 2019 origination fee will be 4.248%.

More information about Federal Direct Graduate PLUS Loan.

Private Financing Programs

  • U.S. citizenship/permanent resident status is not required.
  • A student can borrow up to cost of attendance, including tuition, mandatory fees, room and board, books and supplies, and transportation.
  • For U.S. citizens or eligible non-citizens students, it is advisable for students to apply for all federal Title IV (Direct Stafford and Graduate PLUS loans) education loan programs that are available before considering a private educational loan program. The repayment terms of the federal loan programs may be more favorable than the terms of the private loan programs and may not be included in the Federal Direct Consolidation Loans.
  • Interest rates, origination and repayment fees are based on the creditworthiness of the student borrower and/or the co-borrower.
  • Repayment generally begins immediately after full loan disbursement.
  • In-school deferments, grace periods and forbearances may be available. Ask your lender for more information.

More information about Private Financing.