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Loans | Post-Baccalaureate Premedical Program

Other Financing Options • Web Site Quick Reference

The subsidized Federal Direct Student Loan is available to students who demonstrate financial need. The maximum subsidized loan for a post-bacc pre-medical student is $5,500 per academic year. An origination fee of 0.5% is deducted from the gross amount of the loan. The interest rate is fixed at 3.4% for 2011-2012. The federal government pays the interest on the loan as long as the student is enrolled at least half-time, and for a six-month grace period after leaving school. Repayment options have been expanded under the Direct Loan Program to include longer repayment periods as well as income-sensitive payment schedules.

After financial need has been determined, the Office of Student Financial Services will provide a master promissory note for the borrower's signature. Loan funds will then be credited directly to the student's account.

Students who do not qualify for the need-based subsidized loan may borrow from the unsubsidized Direct Student Loan program. The interest rate on unsubsidized loans is fixed at 6.8%. Post bac students who are independent may borrow up to a maximum total of $12,500 per academic year. This total includes both subsidized and unsubsidized loans. (For example, students who obtain the maximum subsidized loan of $5,500 have the option to borrow up to $7,000 unsubsidized per academic year). Students who are dependent may borrow an additional $2,000 unsubsidized loan for a total of $7,500 in Federal Direct Student Loans.

Interest accrues immediately on the unsubsidized loan, and must either be paid during the in-school and grace periods or capitalized. All other terms of the loan are the same as for the subsidized program.

Interest begins accruing on the unsubsidized Federal Direct Loan after the first disbursement. However, the borrower will not receive a statement of interest accrued until after the loan is fully disbursed (for example, after the spring disbursement if the loan is set up with fall and spring disbursements). The Direct Loan Servicing Center sends out statements twice a year, after January 1 and after July 1. The statement indicates the amount of interest that has accrued. The borrower may pay all, part, or no interest at all. If the borrower chooses to make partial interest payments or no interest payments, the unpaid interest is added to the principal of the loan which makes the loan more costly. We encourage students to make interest payments while in school, if possible. If you wish to know more about how much interest has accrued on your loan at any time during the life of your loan, you may access your account online using your Federal PIN at https://www.dl.ed.gov. You may also make interest payments online. If you have additional questions or concerns, you may contact the Direct Loan Servicing Center at 1-800-848-0979.

We are able to certify federal student loans for this non-degree program because it is a preparatory program for entrance to medical school. However, federal regulations limit students in preparatory programs to one year of federal student aid. If your program should extend beyond one calendar year, you will need to consider other funding, such as private loans. Supplemental funding may be available through the Federal Direct Parent PLUS loan for dependent students and through private loans for both dependent and independent students.

Students in the post-baccalaureate program are not considered graduate students because the program is a non-degree, preparatory program. Therefore, students in this program are not eligible to apply for the Graduate PLUS federal loan program.

Students are not required to complete a separate loan application from a bank or other lender. If you are offered a Direct Student Loan as a part of your aid package and you accept it, you will receive instructions to sign a master promissory note online.

The website is https://studentloans.gov.

Your FASFA PIN is required to complete this process. If you do not have a valid PIN, you must go to the Department of Education’s PIN site at: http://www.pin.ed.gov

  • Sign in with your PIN and other identifying information.
  • Select the "Complete Master Promissory Note" option.
  • Select Loan Type Subsidized/Unsubsidized.
  • Be sure to select JOHNS HOPKINS UNIV - ASEN when asked to provide the name of your school. .

Follow the instructions, and remember to print a copy of the promissory note for your records.

For assistance with signing the Direct Loan Electronic Master Promissory Note, call Applicant Services at 800-557-7394. The master promissory note is valid for 10 years of consecutive borrowing at JHU. The loan proceeds will be credited to your student account 10 days prior to the start of the semester. Students who signed a Direct Loan master promissory note in a previous year are not required to sign a new note.

First-time borrowers must also complete the entrance loan counseling requirement which can also be completed under the same login.

 

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