Determining Eligibility & Financial Aid Programs for US Citizens and Permanent Residents

Merit Scholarship Program

Merit scholarship awards are determined by the Office of Admissions at the time the student is accepted to the school. Continuing students are awarded merit scholarship based on their GPA and rank at the completion of their academic year. Recipients are determined by the Office of Enrollment Services and approved by the Associate Dean for Student Affairs and Admissions. Scholarship amounts vary based on available funding and are determined by the Admissions Office and Office of Enrollment Services.

Tufts Grant Program 

Tufts Grant amounts vary based on funding levels and usually do not exceed $35,000. Tufts Grant is needs based and both parent and student financial information determines eligibility.  Tufts Grant funding consists of both TUSDM-sponsored funding provided by the Dental administration as well as donor-sponsored endowment funding. Should student’s Tufts Grant be partially funded by an endowed scholarship, students will be notified.

Tufts Loan Program

Tufts Loans are need-based and both parent and student financial information determines eligibility.

• Maximum Loan Amount – Varies based on funding levels but usually does not exceed $20,000
• Interest Rate - 5% (Loans borrowed/disbursed on or after 7/1/2017)
• No interest is charged while the student is enrolled or during 6-month post-enrollment grace period.
• Deferments are available for up to 5 years for students participating in a post-graduate specialty program, an internship/residency, or a graduate fellowship. Interest will accrue during any post-enrollment deferment period. Any unpaid interest that accrues during such a period will capitalize onto the loan principal prior to repayment.

Health Professions Student Loan (HPSL) and the Loans for Disadvantaged Students (LDS)  

HSPL and LDS awards are need-based, and federal statutes require that both student and parent financial information is used to determine eligibility.

• Maximum Loan Amount – Varies based on funding levels but usually does not exceed $20,000.
• 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

The Unsubsidized Federal Direct Loan is a non-needs based loan program.  Please refer to Important Federal Financial Aid Changes to determine if you are considered a new borrower or legacy borrower.

Annual Loan Limits:

• DMD/DIS Legacy Borrower - Maximum Annual Loan Amount – $40,500 - $47,167 prorated based on length of student’s academic year.
• DMD/DIS New Borrower – Maximum Annual Loan Amount - $50,000
• PG New or Legacy Borrower - Maximum is $20,500.

Aggregate Loan Limits:

• DMD/DIS Legacy Borrower - $224,000 includes current outstanding principal balance on all federal Direct/FFELP loans received.
• DMD/DIS New Borrower - $200,000 includes original principal borrowed on all graduate and professional federal Direct/FFLEP loans; $257,500 includes original principal borrowed on all federal Direct/FFELP borrowed, including college, graduate and professional loans.
• PG Legacy Borrower - $138,500 includes current outstanding principal of federal Direct/FFELP loans borrowed MINUS the additional annual amount in excess of $20,500 that students received during their health professions program.  
• PG New Borrower - $100,000 includes original principal borrowed on all graduate and professional federal Direct/FFELP loans MINUS the additional annual amount in excess of $20,500 that students received during their health professions program.
• Interest Rate:
  • Loans borrowed on or after 7/1/2013: Based on Treasury Note + 3.6%; rate will remain fixed for life of loan; interest rate for loans borrowed between 7/1/2025 through 6/30/2026 = 7.94%
  • Origination Fee: 1.057% (through 9/30/2026)
  • For interest rates on loans borrowed before 7/1/2013, click here

Federal Direct Grad PLUS Loan Program (Legacy Borrowers Only)

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:
  • Loans borrowed on or after 7/1/2013: Based on Treasury Note + 4.6%; rate will remain fixed for life of loan; interest rate for loans borrowed between 7/1/2025 through 6/30/2026 = 8.94%
  • Origination Fee: 4.228% (through 9/30/2025)
  • For interest rates on loans borrowed before 7/1/2013, click here

Return of Service (ROS) Scholarship Programs

Return of Service programs usually involve a student being awarded a full-tuition scholarship and living stipend. In exchange for receipt of these funds, students will be required to work for the sponsoring organization post-graduation as outlined in their contractual agreement. The return of service commitment is usually 1:1: for every year that a student is funded, they will be expected to serve with that organization for one year after graduation. Most students sign-up for full four-year ROS programs, so that means they would have a four-year commitment after they graduate. The US Armed Forces Health Professions Scholarship Program (HPSP) and National Health Service Corps (NHSC) programs are the most common ROS programs among TUSDM dental students. 

Return of Service scholarships, living stipends and indirect cost allowances funded by the organization are considered financial aid resources, therefore they must be included in a student’s financial aid package. Students are obligated to immediately inform the Financial Aid Office of any outside scholarship awarded to them. The school is not notified of newly accepted HPSP and NHSC scholarship recipients until after the academic year has started. This may result in the Financial Aid Office making required revisions to a student’s financial aid awards based on a change in their eligibility which would involve reducing and/or canceling processed financial aid awards to make room for the scholarship, gross living stipend and indirect cost allowance. If a student has already received their eRefund for the semester and they are accepted to HPSP or NHSC, they must be prepared to return all or a portion of their refund as they may have received funds they are not longer eligible to keep.

Learn more here.

US Armed Forces Health Professions Scholarship Program (HPSP) 

The Military HPSP will cover 100% of a student’s tuition and fees and provide a monthly living expense stipend for each year that an accepted student participates in the program. Reimbursement for required books and supplies is also available. A minimum three-year commitment is required. Students who participate in this program are usually stationed on a base after they graduate.   

Information on various military branches that offer HPSP benefits is available on the following websites: 

• Air Force 

• Army – Army Medical Scholarships

• Navy

Applications for HPSP should be submitted directly to the military branch of your choice.  

National Health Service Corps Scholarship (NHSC) 

NHSC will cover 100% of a participant’s tuition and fees, as well as provide them with a monthly living stipend. An allowance for required books and supplies is also available. The NHSC requires a minimum two-year commitment, though three- and four-year participants are strongly preferred. Students participating in this program work at an NHSC-approved site post-graduation, usually in an underserved, rural area.  

Additional information on the NHSC Scholarship is available.   

Applications for the NHSC should be submitted directly to the NHSC, though there are components that require financial aid and registration certification.  

Medical and Dental Student Stipend Program (MDSSP) 

The MDSSP is an incentive-based program offered by the US National Guard. Participants receive a monthly stipend in exchange for committing to a one-year service obligation for every six months the stipend is received. There is no tuition scholarship portion of the MDSSP. Limited post-graduate student opportunities are available on a case-by-case basis. Service obligation begins immediately upon graduation. 

Information on this program is available here. Applications for the MDSSP should be submitted directly to the National Guard. 

Private education loans are non-federal loans offered by private lenders such as banks, credit unions, and other lending institutions.  Legacy borrowers can choose to borrow private education loans as opposed to federal student loans, replacing the Unsubsidized Direct Loan and/or the Grad PLUS.  Since new borrowers don’t qualify for Grad PLUS, private education loans can help meet the gap between the student’s cost of attendance and what institutional and/or federal student loans can provide.  International students can apply for private education loans but usually they will need to include a qualified US citizen or permanent resident as co-signer.  

Private education loans are strictly credit-based.  Although some lenders will rely on the student borrower’s complete credit profile, most rely heavily on the borrower’s credit score.  Students can request their credit history AND your credit score by going directly to one of the three major credit bureaus, Experian, Equifax or TransUnion.  After reviewing your credit report and score, contact the appropriate credit reporting agency if you notice anything incorrect in your report:

• Experian – www.experian.com
• Equifax – www.equifax.com
• TransUnion – www.transunion.com 

If the credit history shows negative payment remarks, then the student needs to try to resolve these issues prior to applying for a private education loan.  Having a negative credit history will lower credit scores.  Resolving any negative issues will positively affect credit scores which are fluid and can change frequently.

Do not send credit reports or scores to the Financial Aid Office. This information is personal and confidential, but the Financial Aid Office strongly advises students who must borrow a private education loan to know their credit score and history since it will help them understand their private borrowing options.

Prior to borrowing a private education loan, we strongly advise the student and family maximize their financial effort before borrowing a private education loan.  For those students who must borrow private education loans, adding a qualified co-signer during the application process may help the student borrower receive better loan terms (i.e. lower interest rate).  

We strongly encourage students and families to:

• First complete the FAFSA and review all federal and/or institutional needs-based grant and loan options and application instructions if the student is a US Citizen or Permanent Resident.
• Borrow only what is necessary but consider your educational costs for the entire academic year.  
• Carefully compare loan terms including interest rates, fees, repayment plans, including the length of repayment, borrower benefits and co-signer release options.
• Know their credit history and credit score.  The stronger the student’s credit profile, the more likely the student will be approved for a private education loan without a co-signer.  However, in cases where the student’s credit profile is weak, the student may be able to add a qualified co-signer in order to gain approval for the loan.  
• Have multiple co-signers available to the borrower.  A co-signer is usually a parent, relative, or close friend who is willing to act as a qualified co-signer.  A co-signer’s credit history can include the fact they’re responsible for the private education loan and can impact their ability to obtain credit.  However, some private education loan programs offer a co-signer release option after the borrower has entered repayment and proven themselves as a good credit risk to the lender. 

We also recommend:

• Students submit an application for a private education loan to their lender of choice no more than 60-90 days prior to when the 2026-27 academic year begins.     
• Some private education loan lenders will allow you to determine if you’d be approved for their private education loan by doing a “soft credit pull”.  Soft credit pulls do not adversely affect borrower credit scores.  When the student submits their formal application to their lender of choice, that’s when the lender will do a “hard pull” of the borrower’s credit history and score.  Too many hard pulls can negatively affect credit scores.
• TUSDM’s Preferred Lenders offer soft credit pulls.  If the student is applying for a private education loan outside of this list, we recommend contacting the lender to determine if they offer a soft credit pull prior to the student’s formal application.    

TUSDM Preferred Private Education Loan Lender List

Tufts University uses ELM SELECT, an independent comparison tool, as our platform for students to review the list of TUSDM’s preferred lenders for private education loans.  Please be aware that you do not need to choose a lender from this list.  It might be helpful to let the Financial Aid Office know if you’re selecting a lender that is not included on the list so that we can ensure that the school’s certification section is received from the lender upon the loan’s approval.

Private education loan applications are submitted online directly through the lender.  The Financial Aid Office will process the loan once it appears on our certification site.  Note that the amount of private education loan a student may receive can’t exceed their cost of attendance minus other financial aid received.  Also note if borrowers wish to apply for additional private education loan funding, they will need to reapply for the loan through the lender’s application website.  

Compare Lenders Through ELM SELECT

To help you make an informed decision, we provide a list of lenders through ELM SELECT, an independent comparison tool.

Through ELM SELECT, you can:

• View our preferred lender list
• Compare interest rates, fees, repayment options, and borrower benefits including co-signer release options
• Access lender application links when ready to formally apply for your private education loan of choice
• Select any lender that best meets your needs

Access ELM SELECT

Important: You are not required to choose a lender from this list. You may select any lender of your choice, and your loan will be processed the same way. 

Preferred Lender List Information

Our preferred lender list is provided as a resource to assist students and families in comparing private loan options. Lenders included on the list were selected through a formal Request for Information (RFI) process based on criteria such as:

• Competitive interest rates and fees
• Flexible repayment options and borrower benefits
• Quality of customer service and default management support
• Ease and timeliness of application processing and loan disbursement

We review lender information periodically to ensure the list reflects the needs of our students and families.

The university:

• Does not receive any financial benefit from lenders for inclusion on this list
• Has no revenue-sharing agreements with any lender
• Does not assign a borrower’s loan to a specific lender
• Will process loans from any eligible lender you choose 

Lenders are not ranked or listed in order of preference. 

Borrower Choice

Students and families are not required to use a lender from the Preferred Lender List. You have the right to select any eligible lender, and Tufts will process and certify private education loans from any lender you choose.

We encourage borrowers to carefully compare loan terms, interest rates, fees, repayment options, and borrower protections before making a decision. Whenever possible, students should first consider federal student loans, which typically offer more favorable repayment protections and benefits. 

Borrower Requirements and Disclosures

Under the Higher Education Act, private education loan borrowers must:

• Receive a disclosure from the lender outlining loan terms and costs
• Complete a Private Education Loan Self-Certification Form
• Observe a three-day right-to-cancel period after final approval and before disbursement

Code of Conduct and Compliance

In accordance with the Higher Education Act, the university follows a strict Student Loan Code of Conduct: 

• No revenue-sharing arrangements with lenders
• No gifts or incentives accepted from lenders
• No preferred lender placement based on financial benefit
• No staffing assistance from lenders
• Borrower choice of lender is always honored

RFI Process

Tufts conducts its RFI and lender review periodically. During this process:

• Lenders are invited to submit detailed information about their loan products and services.
• Responses are reviewed using standardized evaluation criteria.
• The Preferred Lender List is updated as appropriate based on the results of the review.

For questions about private education loans or the Preferred Lender List, please contact DENFAO@tufts.edu.