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Students who are US citizens or Permanent Residents of the United States can be considered for institutional needs-based grants and loans and other types of federal student loans. Foreign students may apply for private education loans provided they have a qualified US Citizen or Permanent Resident act as co-borrower. Both foreign and domestic students can also qualify for merit-based financial aid.

Although students are considered independent from their parents by federal definition, certain types of federal and needs-based institutional grant and loan programs require parental financial information in order to determine eligibility. The following information provides a summary of the financial aid programs available to TUSDM students. Information on how to apply for the financial aid programs outlined in this section can be obtained in Applying for Financial Aid/Print Financial Aid Forms and Instructions section of this website. Information as to how financial need is determined is provided in the section entitled Determining Financial Need.

Institutional Financial Aid Programs

• Merit Scholarship Program - The merit scholarship program eligibility is based solely on the student's academic performance. The program is administered by the Office of Student Affairs in conjunction with the Admissions Office. Both domestic and foreign students may receive this scholarship. The amount of scholarship support varies and is determined by the Admissions Office and the Office of Student Affairs.
• Tufts Grant Program - Tufts Grant amounts vary based on funding levels and usually do not exceed $12,000. Tufts Grant is needs-based and both parent and student financial information determines eligibility.
• Tufts Loan Program - Tufts Loans are needs-based and both parent and student financial information determines eligibility.
  • Maximum Loan Amount - Varies based on funding levels but usually do not exceed $9,100.
  • Interest Rate and Terms -
    • Tufts Loans borrowed AFTER 7/1/2007: 7% when in repayment. No interest is charged while student is enrolled or during 6-month grace period following graduation or withdrawal. Deferments available for up to 5 years for students participating in post-graduate specialty program, internship/residency or graduate fellowship. Interest will accrue during periods of deferment. Unpaid interest during deferment period is capitalized onto the loan principal prior to repayment.
    • Tufts Loans borrowed BEFORE 7/1/2007: 8% which begins to accrue during 6-month grace period which follows graduation or withdrawal. Unpaid interest is capitalized onto loan principal prior to repayment. No interest accrues while student is enrolled at TUSDM in the degree program for which the loan was received. No deferment is available.

Federal Student Loan Programs

• Federal Perkins Loan - Federal Perkins Loans are needs-based using only student financial information to determine eligibility.
  • Maximum Loan Amount - $8,000
  • Interest Rate - 5%
  • No interest accrues during the student's in-school period, grace period of 9 months and during eligible deferment periods. Post-deferment interest-free grace period of 6 months granted after eligible deferment period.
  • Deferment available for students enrolled at least half- time or if the borrower is participating in a graduate fellowship program, considered on active duty in the US Armed Forces. Borrower may qualify for other types of loan deferment.
  • Should the student be awarded Perkins Loans, the student/borrower completes a promissory note directly with Tufts University.
    
• Health Professions Student Loan (HPSL) and the Loans for Disadvantaged Students (LDS) - HSPL and LDS loans are needs-based and federal statute require that both student and parent financial information is used to determine eligibility.
  • Maximum Loan Amount - Varies based on funding levels but usually do not exceed $10,100.
  • Interest Rate - 5%
  • No interest accrues during the student's in-school period, 12-month grace period which immediately follows graduation or withdrawal. No interest accrues during eligible deferment periods.
  • Deferment available (after expiration of 12-month grace period) for up to 3 years for those considered on active duty for the US Armed Forces or Peace Corps volunteer or while pursuing advanced professional training (unlimited time) or up to 2 years to pursue related professional educational activity or training fellowship.
  • Should the student be awarded HPSL or LDS, the student/borrower completes a promissory note directly with Tufts University.
• William D. Ford Federal Direct Loan Program - This loan is not a needs-based loan. Please note that graduate and professional students can no longer apply for the subsidized (needs-based) portion of Federal Direct Loans for an loan disbursed on or after 7/1/2012.
  • Maximum Loan Amount - $47,167
  • Maximum loan amount prorated based on length of student's academic year:
    • DMD/DIS:
      • Year One: $42,722
      • Year Two: $47,167
      • Year Three: $47,167
      • Year Four: $40,500
    • Post-graduate: $20,500
  • Interest Rate:
    • 6.8% Fixed

• Federal Direct Grad PLUS Loan Program - Grad PLUS is a non-needs based loan however the borrower must maximize their annual Federal Direct Loan eligibility before applying for Grad PLUS.
  • Maximum Loan Amount - equal to the student's annual cost of attendance less other financial aid.
  • Interest Rate - 7.9% Fixed
  • Grad PLUS loans accrue interest while student is enrolled in school and during any eligible deferment period. Students enter immediate repayment upon graduation, withdrawal, or dropping to less than half time status. Students can request an economic hardship deferment or forbearance should they be unable to make payments when payments are due.
  • Deferment available for students enrolled at least half- time or if the borrower is participating in a graduate fellowship program, considered on active duty in the US Armed Forces. Borrower may qualify for other types of loan deferment.
  • Federal Direct Grad PLUS loans are credit-based loans borrowed directly from the federal government as opposed to private lenders.