College of Medicine Loans

The Carver College of Medicine has a number of endowment loan funds to be used to assist students in financing their education. To be eligible for these loans, students must have financial need greater than $8,500 as calculated by the FAFSA and must provide parental income and asset information on the FAFSA that demonstrates an expected parental contribution of less than $25,000 for residents and $40,000 for non-residents. The maximum yearly loan from each of the listed funds varies yearly depending on available funds.

Interest-free Loan Fund

The endowed loan fund listed below provides interest free loans to needy medical students. It has a standard repayment schedule of $100 per month beginning three years after graduation until the loan is paid in full.

  • Edith C. Brewster Trust Fund Loan

Deferred-interest Loan Funds

The funds below charge 5% per annum interest, which begins accruing at repayment, three years after graduation. They all have a standard repayment rate of $100 per month plus interest beginning three years after graduation.

  • Melvin and Sadie Bloom Memorial Loan Fund
  • Alice E. Booth Loan Fund
  • Robert Wood Johnson Foundation Loan Fund.
  • Hyman Kessler Memorial Loan Fund
  • Lottie Lester Evans Loan Fund
  • G. W. Merck Memorial Loan Fund
  • Nu Sigma Nu Loan Fund