FOR UNITED STATES CITIZENS OR PERMANENT RESIDENTS

US Federal Student Loans

US Federal Student Loans are only available for the Four-Year MD portion of all dual degrees.

St. George’s University participates in the William D. Ford Federal Direct Loan Program. These loans are available to US students who are US citizens or US Permanent Residents in the School of Medicine who are or have been enrolled in the Basic Science portion of their program in Grenada. (As of July 1, 2011, students in SGU/NU Program are not eligible for the Federal Direct Loan Program.)

The William D. Ford Federal Direct Loan Program consists of the Federal Direct Unsubsidized Loan and Federal Direct Graduate PLUS Loan. The maximum loan amount for which a student is eligible may not exceed the cost of attendance (as defined by St. George’s University) less any other financial aid received for the academic period in which the student is enrolled. Eligible students can borrow up to $20,500 per academic year from the Federal Direct Unsubsidized loan not to exceed an overall aggregate amount borrowed of $138,500. The Federal Direct Graduate PLUS loan program is used to bridge the gap between the Unsubsidized Loans and the remaining cost of attendance. Students must not have an adverse credit history in order to qualify for a Federal Direct Graduate PLUS loan. The Direct PLUS loan does not have an aggregate limit.

Students may choose to pay the interest while attending school. If allowed to accrue, interest will be capitalized (added to the principal balance) at the beginning of the repayment period. The interest rate for all Unsubsidized loans with a first disbursement on or after July 1, 2020 is fixed at 4.30%. The interest rate for all Grad PLUS loans with a first disbursement on or after July 1, 2020 is fixed at 5.30%. The student will also be required to pay a pre-disbursement loan origination fee on the amount borrowed. Effective October 1, 2020 the fee will be 1.057% on Unsubsidized loans and 4.228% on Direct PLUS loans. These fees will be deducted from the amount borrowed and will be reflected in the disbursements issued to the student’s account.

Loans are typically processed for an academic year and are disbursed in two installments. Disbursements typically occur 10 days before the start of an academic term. For example, if a student requests a $20,500 Federal Direct Unsubsidized Loan, the Department of Education will release half the requested amount, less loan fees, any applicable fees for the first term of the academic year, and release the second half of the approved amount (less fees) 10 days before the start of the second term. Loan funds are disbursed to the student’s account and if a credit balance is created, the credit will be refunded to the student by check or direct deposit, typically within 10 business days.

Under the Direct Unsubsidized and Graduate PLUS loan programs, the student is responsible for all accruing interest and may choose to repay the interest while in school or defer it until repayment begins. Upon graduation, a grace period is applied automatically to your Federal Direct loans. The grace period is a one-time 6-month period during which no payments are required, although interest will continue to accrue on these loans. If a student ceases to be enrolled at least half-time (withdraws or takes a leave of absence), the 6-month grace period would apply in most circumstances. Students who withdraw, drop below five (5) credits or graduate must complete online Exit Counseling if they have received a Federal Graduate PLUS loan. The Exit Counseling will provide you with your federal loan history and will inform you of your repayment options.

Repayment on these loans begins 6 months after the student ceases to be enrolled at least half-time. The amount of your monthly repayment is calculated based upon the total amount that you have borrowed, as well as the repayment plan that you choose. Visit the Federal Student Loan Repayment Plans page at studentloans.gov to learn about repayment plans and to use the Loan Simulator. The Loan Simulator will help to find the best repayment strategy for you.

Students can apply for US federal loans by completing the Free Application for Federal Student Assistance (FAFSA) at studentaid.gov. When completing the FAFSA, be sure to enter the appropriate school code. The SGU School of Medicine federal school code is G22333. Students will also need to complete Entrance Counseling and Master Promissory Notes in order to complete the application process.

To receive Direct Loans, recipients must be either permanent residents or citizens of the United States, be enrolled in the 4 Year MD program at least half-time, maintain satisfactory academic progress, and not be in default on any prior U.S. government-guaranteed loan. These guidelines are subject to statutory and/or regulatory changes in the U.S. Higher Education Act and the Title IV Program Regulations. For details on how to apply, click here.

Students borrowing federal loans can complete the Title IV Authorization form online through their SGU Student Self Service account. This will allow the Office of Student Finance to apply your federal loan proceeds toward non-tuition charges such as books and health insurance in order to satisfy your student account.

Private Educational Loans

Private educational lenders in the United States offer students at St. George’s University alternate loans. US Students can apply for these loans to meet all or part of their cost of attendance. Students who are considering the SGU/NU Program can explore these options.  Some lenders may also offer private loan programs for parents, guardians, sponsors, or other individuals who wish to borrow on behalf of the student to help fund their education. These private loan programs are all credit-based and are offered only to borrowers who have a satisfactory credit history as determined by the lender. The loans may have a fixed or variable interest rate that is tied to an index, such as LIBOR or PRIME, plus a margin. The interest rates and fees you pay on a private student loan are based on your credit score and the credit score of your cosigner, if applicable. These loans have repayment terms that begin following graduation or withdrawal from school and may be able to be extended up to 25 years.

The Office of Financial Aid at SGU provides extensive financial aid counseling services to students in order to help them understand the eligibility requirements, terms and conditions.

St. George’s University does not prefer, recommend, promote, endorse, or suggest any lenders. You are not required to borrow from any of the lenders appearing on these lists and there is no penalty for selecting a different lender, if available.

Financial Aid Loan Code of Conduct

FOR CANADIAN CITIZENS

St. George’s University is approved by the Canadian Ministry of Education, entitling most students to the ability to receive Canadian Federal loans, Provincial loans and Federal grants.

The Canada Student Loans Program (CSLP) offers financial assistance to full-time and part-time students pursuing post-secondary education in the form of loans, grants and repayment assistance. The CSLP delivers student financial assistance in partnership with most provinces and territories. Quebec and the Northwest Territories operate their own programs.

These loans are interest-subsidized by the Canadian government while the student is enrolled in school and maintaining satisfactory academic progress as determined by the individual province. Below you will find a comprehensive list of available funding by Province. To supplement the financing of their education, students usually apply for a professional line of credit available through the banks in Canada. Credit lines can be approved for between $150,000 and $500,000,depending on the bank you choose to apply with. Please note all banks will require a co-signer.

St. George’s University is committed to ensuring that students are aware of all of their financial aid options. We have designated a counselor to work directly with Canadian students to address their questions and needs. For more information, please contact:

Beth Cohen
Canadian Loan Specialist
Phone: 1 (631) 665-8500 ext. 1237
Fax: (631) 969-5937
Email: bcohen@sgu.edu

Canadian Funding Amounts

Alberta Student Financial Assistance
Students are eligible for both federal and provincial funding as well in Alberta. The combined maximum a student can receive is $42,000 (CAD) per term. If the term starts/ends mid-month, the award is prorated and the award is made for the whole month or nothing for that month. Students are awarded funding by the month.

British Columbia Student Financial Aid
Students are eligible for both federal and provincial funding as well as grants. Students can receive up to $320 (CAD), $210 federal and $110 provincial, per week and $4,500 per year in a grant. Students are awarded funding by the month. If the term starts/ends mid-month, the award is prorated and the award is made for either two or four weeks of funding depending on the exact date.

Manitoba Student Aid
Students are eligible for both federal and provincial funding as well as grants. Students can receive up to $350 (CAD), $210 federal and $140 provincial, per week and $4,500 per year in a grant. Funding is awarded by the literal number of weeks in a term.

Newfoundland Student Financial Assistance
Students are eligible for both federal and provincial funding as well as grants. Students can receive up to $350 (CAD), $210 federal and $140 provincial, per week and $4,500 per year in a grant. Funding is awarded by the literal number of weeks in a term.

Nova Scotia Student Assistance
Students are eligible for both federal and provincial funding as well as grants. Students can receive up to $410 (CAD), $210 federal and $200 provincial, and $4,500 per year in a grant. Students may be awarded up to 40% of the provincial loan amount in a scholarship.

Northwest Territories Student Financial Assistance
Students are eligible to receive scholarships and bursaries totaling up to $14,400 (CAD) in combined loans and grants per year.

Ontario Student Assistance Program
Students are eligible for federal funding only (not provincial). Maximum federal funding is $210 (CAD)per week of instructional time. Students are also eligible for grants (up to $4,500 (CAD) per year).

Quebec Student Financial Assistance Programs
Quebec does not offer funding to students studying medicine outside the Province of Quebec; however, students in other programs are eligible to apply for funding.

Saskatchewan Student Loans Program
Students are eligible for both federal and provincial funding up to $575 (CAD), $365 federal and $210 provincial, per week. Awards are based on actual number of weeks of instructional time. Students are also eligible for grants.

Exact amounts based on individual eligibility and start and end dates of terms.  These figures do not include Canada student loan’s COVID-19 increase for the 2020/2021 year.

St. George’s University seeks intelligent, dedicated, passionate students who will succeed in their professional objectives and become successful practitioners who add value to their communities and to global health as a whole.

To that end, the scholarship program at SGU is robust, offering partial scholarships to students in need and to those who have demonstrated academic excellence.

Scholarship Opportunities for Entering Freshmen

Humanitarian Scholarship

Furthering our commitment to global medicine and humanitarian causes, SGU offers partial scholarships to incoming MD students who have demonstrated compassion and commitment to humanitarian causes in their local communities and beyond.  Students who have community-based humanitarian experiences and a desire to help ease the suffering of people who have been impacted around the world are eligible.

This scholarship is available to US and non-US citizens.  Students are identified during the admission application process and notified of their award through the Admissions Office upon acceptance into the University. No application is needed.

Legacy of Excellence Scholarship Program

The Legacy of Excellence was established more than 10 years ago to reward students with high academic achievement. There are two components of this scholarship. Students are eligible to receive one of the two components. Eligible to both US and non-US students.

The Chancellor’s Circle Legacy of Excellence Scholarship (CCLOE)
The CCLOE is an automatic award of $94,500 to students with a minimum overall undergraduate GPA of 3.7, a 3.5 science GPA, and a 29 (old)/506 MCAT score who have been accepted by the Committee on Admission.

The University maintains the right to withhold award of this scholarship under certain unusual conditions.
Students are identified during the admission application process and notified of their award through the Admissions Office upon acceptance into the University. No application is needed.

Legacy of Excellence Scholarship (LOE)
Up to $70,000 awarded to students who excel beyond our academic averages. Strong graduate studies (in the sciences) and post-bac performances will be taken into consideration. The Legacy of Excellence Scholarship is a partial-tuition scholarship awarded to entering students who demonstrate the commitment and dedication necessary to achieve academic excellence in a rigorous medical curriculum based on their academic history.

Students are identified during the admission application process and notified of their award through the Admissions Office upon acceptance into the University. No application is needed.

Legacy Grant

Scholarship awarded to all legacies of SGU School of Medicine entering into the four year MD program or a Preclinical program. A legacy is determined to be a child or grandchild of an SGU SOM Alumni. The award is up to $20,000 and is reviewed for at the time of admission. Eligible for US and non-US citizens.

Veteran Grant

Thank you for your service. In gratitude for all that our U.S Armed Forces have sacrificed we offering our Veteran Grant to School of Medicine students entering our four year MD program. This grant is awarded to Veterans of the U.S Armed Forces after admission to St. George’s University School of Medicine. The award is up to $50,000. Students are automatically reviewed for this award at the time of admission. Proof of veteran status is required to be eligible. Eligible for US students only.

Sibling Grant

Keeping SGU in the family? Our Sibling Grant is awarded to siblings attending St. George’s University School of Medicine, entering our four year MD program and our preclinical programs. Only new incoming students will earn the award, siblings currently attending St. George’s University are not eligible. The award is up to $20,000 and is reviewed for at the time of admission. Eligible to US and non-US citizens.

Summer Academy Scholarship

Awarded to students who have participated in our Summer Academy Programs. This grant is awarded at the time of admission to the University within our School of Medicine. Students who are entering our four year MD program and our preclinical programs are eligible. The award is the cost of the tuition at the time of Summer Academy attendance, and granted upon admission. Eligible to US and non-US citizens.

Health Professions Grant

Awarded to students who are currently or have been employed in the healthcare field in the past 2 years. . Students who are entering our four year MD program are eligible. The award is up to $20,000. Eligible to US and non-US citizens.

CityDoctors

The CityDoctors Scholarships Program, the brainchild of St. George’s University and its affiliated hospitals, is a scholarship program designed to attract and educate the best and brightest students to become doctors committed to serving in urban hospitals. Full- and partial-tuition scholarships are awarded to US citizen/permanent resident students interested in primary care medicine and meeting the specific requirements of each of our participating affiliated hospitals.

CityDoctors NYC H+H Scholarship
Eligible students must have a permanent address within the five boroughs of the City of New York, and either be a graduate of a New York City high school, have lived in the City of New York for the past five years, have a parent employed by the City of New York or by the NYC H+H (HHC), or who is employed themselves by the City of New York or NYC H+H. More information is available on the CityDoctors NYC H+H Scholarship website.

CityDoctors Hackensack University Medical Center Scholarship
Eligible students must be residents of Bergen County, NJ, and either a Hackensack University Medical Center’s employee or an immediate family member of an employee. Awards are granted for full, partial and half tuition and applied to the four years of medical school while enrolled at SGU School of Medicine. This is available to students starting in a January term. More information is available on the CityDoctors Hackensack University Medical Center’s website.

CityDoctors Jersey Shore University Medical Center Scholarship
Eligible students must be residents of Monmouth County or Ocean County, NJ, and either a Hackensack Meridian Health Jersey Shore University Medical Center’s employee or an immediate family member of an employee. Awards are granted for 50% or partial tuition and applied to the four years of medical school while enrolled at SGU School of Medicine. This is available to students starting in a January term. More information is available on the CityDoctors Jersey Shore University Medical Center’s website.

APPLICATION DEADLINE:

Please see specific CityDoctors Scholarship webpage for application deadlines.

BURSARY PROGRAMS FOR ENTERING NON-US STUDENTS

There are two bursary programs designed for international students (non-US): the International Peace Bursary (partial tuition awards) and the Global Scholars Bursary (partial tuition awards) for students attending the St. George’s University of Grenada School of Medicine/Northumbria University (SGU/NU) Four-Year MD Program. The University grants many of these bursaries. Eligible to US and non-US citizens.

TO APPLY: Students applying for the International Peace Bursary or the Global Scholars Bursary should apply using the Confidential Financial Statement form.

International Peace Bursary

Partial bursary awards to non-US citizen/permanent residents who demonstrate financial need and can fund the balance of their education beyond the bursary award.  The International Peace Bursary program is committed to promoting a student body made up of diverse nationalities and cultural backgrounds that will contribute to a worldwide medical community. Partial tuition bursary awards are granted to international students who demonstrate financial need and will return to their home countries as physicians dedicated to the enhancement of medical care systems. These awards are grants-in-aid and do not have to be repaid.

Global Scholars Bursary

Partial bursary awards to non-US citizen/permanent residents entering the St. George’s University of Grenada School of Medicine/Northumbria University (SGU/NU) Four-Year MD Program, the Global Scholars Bursary program is committed to promoting a student body made up of diverse nationalities and cultural backgrounds specifically within the SGU/NU program, which will contribute to a worldwide medical community. Partial-tuition bursary are awarded to international students who exhibit academic excellence, demonstrate financial need, and will return to their home countries as physicians dedicated to the enhancement of medical care systems. These awards are grants-in-aid and do not have to be repaid.

GRENADIAN SCHOLARSHIPS

Fifteen scholarships are awarded annually to Grenadian citizens. Applicants must have been accepted into the University by the Committee on Admission, nominated by the Scholarship Selection Panel, and awarded by the Grenadian Government. The scholarships provide full tuition and administrative fees. This scholarship is only awarded in January. Applications are submitted to the Grenada Ministry of Education and Human Resource Development. Contact your regional admissions counselor or Colin Dowe at cdowe@sgu.edu or +1 (473) 444-4680.

SCHOLARSHIPS FOR UPPERCLASSMEN STUDENTS

Morris Alpert Scholarships

Morris Alpert Scholarship Application

William M. McCord Scholarships

This scholarship is dedicated to the memory of William M. McCord, MD, a leader in the field of medical education in the United States who had a major impact on the development of the St. George’s University School of Medicine clinical program. These partial-tuition scholarships are awarded to students who withdraw from a term due to compelling personal reasons, and when they return to resume their studies suffer undue financial hardships that affect their ability to pay for their education. These awards are grants-in-aid and do not have to be repaid. Email Michele Wulfken at mwulfken@sgu.edu to detail the circumstances surrounding your leave of absence. Contact Michele Wulfken directly at ext. 1391 with any questions about this scholarship.

St. George’s University is a participant in the Department of Veteran Affairs Educational Programs. Only students who were a uniformed service member, veteran, veteran’s dependent, surviving spouse, or child of a deceased veteran, and are registered in the MD or DVM Program are eligible for VA Benefit.

VA Education Programs

The following is a list of Veteran Affair benefit programs that the SGU MD or DVM program is eligible for:

• Chapter 30 – Montgomery GI Bill^® – Active Duty
• Chapter 32 – Veterans Educational Assistance Program (VEAP)
• Chapter 33 – Post 9/11 GI Bill^®
• Chapter 34 – GI Bill^®
• Chapter 35 – Dependents Educational Assistance program DEA
• Chapter 1606 – Montgomery GI Bill^® – Selective Reserves
• Chapter 1607 – Reserve Educational Assistance Program REAP

Initiating Veterans Benefits at SGU

Submit the appropriate application form listed below to the VA:

• Student should compare VA education benefits and review payment rates by utilizing the Comparison Tool.
• Apply for benefit through the VA using the Veterans Online Application (VONAPP).
• Submit Certificate of Eligibility to an SGU School Certifying Official (see contact information below).

Receiving Veterans Benefits at SGU

After you have initiated your Veterans Benefits at SGU, a School Certifying Official will  contact you at the beginning of each term. Once your enrollment has already been certified for a term in the current VA year, you will not be automatically certified for another term, unless you request otherwise.  You will receive an automatic electronic notification from the VA after your enrollment has been certified. Payment of benefit can take up to two to four weeks after it is certified. Eligibility and payment amounts are determined by the VA and not by SGU. Please access visit the VA’s Rate Tables for the various benefit programs.

Contact:

For more information please visit:

http://www.gibill.va.gov/

http://www.gibill.va.gov/Vet_Info/OS_TrngV.htm

https://studentaid.ed.gov/sa/sites/default/files/military-student-loan-benefits.pdf

http://benefits.va.gov/gibill/foreign_school_information_for_students.asp

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