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Loan Information

Federal Direct Unsubsidized Student Loans

The loan limit is $20,500 to $47,167 (based on length of enrollment period) Interest is charged during the in-school period. The interest rate is 5.84% and a fee of 1.068% is deducted at disbursement. Need analysis (FAFSA) is required.

Amount of unsubsidized loans by program and year
MSA Year 2$20,500
MSA Year 1$20,500
MBS Year 2$20,500
MBS Year 1$20,500

The aggregate limit for and unsubsidized loans is:

  • D.O., D.P.M and M.P.H. is $224,000
  • All other programs $138,500

Students cannot exceed these limits.

Federal Direct GradPLUS loan

Maximum cost of attendance budget minus all other financial aid resources. Interest rate fixed at 6.84%, accrues in school and a fee of 4.272% is deducted at disbursement. FAFSA is required.  A credit check will be performed by the Department of Education.  For Direct Grad PLUS loan applicants with adverse credit, you will be required by the Department of Education to do additional Direct Grad PLUS loan counseling.  You will be notified by the Department of Education if you need to complete additional Direct Grad PLUS loan counseling.  If required, the loan will not be disbursed until this is complete.

Federal Perkins Student loan

Maximum of $8,000 per year graduate/professional. Parental information is required. Students are not charged interest while in school. Need analysis (FAFSA) is required. The interest rate is fixed at 5 percent. Limited funds available to students with exceptional financial need.

The Perkins loan program ended on September 30, 2015.  Some current Perkins borrowers may meet eligibility requirements for Perkins funding through grandfathering.

To be grandfathered, the student must:

  • Have received at least one Perkins Loan disbursement before June 30, 2015;
  • Be enrolled at the same school where the last Perkins Loan disbursement which made the student a grandfathered borrower (e.g., 2014-2105 award year or earlier) was received;
  • Be enrolled in the same academic program for which the student received his or her last Perkins Loan disbursement which made the student a grandfathered borrower (e.g., 2014-2015 award year or earlier); and
  • Have been awarded all Direct Subsidized Loan aid for which the student is eligible for the award year.

First time DMU Perkins Loan recipients, in the 2015-2016 academic year do not meet grandfathering requirements and will not be eligible to receive additional Perkins loans.

A student who does not qualify for grandfathering, but who received a first disbursement of a Perkins Loan after June 30, 2015 and before October 1, 2015 for the 2015-2016 award year, may receive any remaining disbursements of that 2015-2016 award year loan, but is not eligible for disbursements after that.

A student who does not qualify for grandfathering and does not qualify for a subsequent disbursement of a 2015-2016 Perkins Loan may not receive Perkins Loans after September 30, 2015.

Federal Super Primary Care loan

Obtained by applying through the University. Available only to fourth-year D.O. students who agree to complete a primary-care residency and practice in primary care until the loan is paid in full. This is a federal government loan that is based on exceptional financial need. The interest rate is fixed at 5 percent and interest does not accrue during school or residency. The loan amount is up to $100,000 and loan proceeds are used to pay off prior years DMU medical school loans. All fourth-year D.O. students are notified in the fall of loan requirements, application procedures, and deadline information if funds are available. Limited funds.

Residency and relocation loans

Available to students in their final year of study. These alternative/private loans are designed to provide students with additional funds to help offset the expenses associated with travel and relocation costs for interviews, etc. These loans require a credit check and do not require the financial aid office to certify the application, so they do not count toward your student expense budget. Before you utilize one of these programs, please verify that you have exhausted eligibility in other financial aid programs with the financial aid office.

Refund advance

Des Moines University has a refund advance available to any student who faces a short-term financial crisis. Refund advances given out by the accounting office will be deducted from that student’s next scheduled disbursement. Some restrictions may apply. Check with the accounting office for details.