Consumer Information
The consumer information page contains important resources for prospective and current GW students and to assist the GW community in finding important institutional information.
- Federal Loans
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Medical students may be offered loans as part of their award package, which are processed by our office. The following lists eligible loan programs and links to required documents:
- Private Alternative Loans
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Private alternative (otherwise known as commercial) loans are offered by many private banks or lenders and are borrowed for education expenses not covered by other sources of financial aid. Students should consider how obtaining a private student loan will affect their credit when deciding on the terms offered by lenders. Students are strongly encouraged to utilize all of their federal student loan eligibility before seeking an alternative student loan:
Annual alternative loan amounts are limited to a student's total cost of attendance less other financial aid received. Students must be enrolled at least half-time and be a U.S. citizen or a permanent resident or provide a U.S. cosigner. Alternative loans carry either a variable or fixed interest rate. Interest rates are determined by the lending institution and may change as often as every 30 days and may have no interest rate cap. Alternative loan approval is based upon the student's credit history. Credit history may also affect the interest rate. Each alternative loan lender has their own credit criteria, application process, and maximum lifetime borrowing limits.
Those students who intend to apply for an alternative loan or to have a Student Accounts Hold lifted for advance registration must start the application process at least four weeks prior to the date on which they are scheduled to register for the upcoming semester. Several steps must be completed before the lender will provide the Office of Financial Aid with the loan certification request. No action will be taken to release a ‘hold" until we have received the funds from your lender.
When you apply for an alternative loan, please be sure to follow the instructions from your lender carefully. These instructions will guide you step-by-step through the process. Please see our Code of Conduct. We recognize that some students need private loans, especially students who are not eligible for Federal Direct Loans. You may review and compare our lender list via ELMSelect. If you have a question about the terms of a private loan, or you do not understand what your lender is asking on an application, please contact the SMHS Office of Financial Aid. We are happy to assist you in understanding this information.
In addition to the extra steps outlined above, there may be a delay of up to at least 10 days before the loan funds will be disbursed to the university to be credited to your account based on borrowers' right to cancel timeframe. It is ideal to apply at least 4 weeks prior to the start of the term. We will certify any private alternative loan application submitted to the SMHS Office of Financial Aid (school code 001444-00) after we have confirmed your interest in the loan.