To be eligible for financial aid, Students must be accepted into Trinity School of Medicine's Doctor of Medicine degree program and enrolled on a full time basis.
Students are eligible to apply for private educational loans that may be available from various private lenders. Each financial institution maintains its own set of lending policies and standards for loan approvals. Their decision to fund a loan request is based on many criteria with credit score being one of the most important factors.
It is advisable that students obtain their credit score from all three major credit bureaus to ensure their credit rating is based on the most current and accurate data. There are many organizations that provide this service, but one of the less expensive alternatives is AnnualCreditReport.com.
Private Student Loan Alternatives For US Students
Due to the continuing credit market issues in the US, Trinity School of Medicine has developed its own Private Student Loan program to address the financial needs of newly accepted US students. The program is available to students who cannot obtain financial support through traditional programs offered by US financial Institutions. Our current program requires a minimum FICO (Fair Isaac Credit Organization) score of 680. If your score is less than the minimum, a co-signor with credit score of 680 or better is required.
Our loans are a variable rate instrument as rates are based on the WSJ (Wall Street Journal) index of Prime plus a 6% margin. It is a competitive private student loan rate based on the current US banking industry. Loan amounts may be limited to the equivalent of the cost of tuition and available on-campus housing only. We are optimistic the US financial market will return to normalcy within the next 12 to 18 months. As the industry recovers, more loan alternatives with enhanced rate structures should emerge and be made available to students.
Additional student loan requirements:
The loan portal for US students opens 90 days prior to each term and closes a few days prior to registration. All student loan applications are electronically submitted on the website portal managed by Student Loan Finance Corporation (SLFC). Students that have been accepted and submitted their initial Tuition deposit will be provided the appropriate portal website address and logon access. Application dates for coming terms are as follows:
| Loan Portal Opens on | for Term |
| Tuesday, June 8, 2010 | September 2010 (Fall) |
| Tuesday, October 12, 2010 | January 2011 (Winter) |
| Tuesday, February 8, 2011 | May 2011 (Spring) |
| Tuesday, June 7, 2011 | September 2011 (Fall) |
Private Student Loan Alternatives For Canadian Students
If you have questions or need additional assistance, please contact Keith Hollers via e-mail khollers@trinityschoolofmedicine.org or phone 678-762-3236.