For the incoming class, please wait to complete these steps below until you have returned your signed award letter accepting student loans.
Loans
Beginning Fall 2010, ETSU Quillen College of Medicine (School Code E003487) began using the Federal Direct Loan Program administered by the U.S. Department of Education to make the student loan process as simple as possible. All students, including new, transfer, and continuing students, must have their Unsubsidized Loans and PLUS Loans processed through the Federal Direct Loan Program.
All Federal loan borrowers must complete the Direct Loan Master Promissory Note (NPN) and entrance loan counseling on StudentAid.gov.
Federal Direct Loan Program
Loans are awarded based on a student’s dependency status, financial need, cost of attendance, and grade level. These Direct Loans are unsubsidized and are available based on the student’s cost of attendance and other financial aid.
These loans require the student to pay or accrue interest while enrolled, although the principal amount is deferred. Borrowers begin repaying both Direct Unsubsidized Loans and Direct PLUS Loans after enrollment drops below at least half-time.
Direct PLUS Loans are federally guaranteed loans for graduate or professional students who have additional financial need beyond what their Direct Unsubsidized Loans may cover.
Interest Rates for Direct Loans
2025-2026 Academic Year (Current)
- 7.94% for Direct Unsubsidizerd Loans
- 8.94% for Graduate PLUS Loans
2024-2025 Academic Year
- 8.08% for Direct Unsubsidized Loans
- 9.08% for Graduate PLUS Loans
For federal loans disbursed before June 30, 2006, the interest rate is variable.
Federal Direct Loan Origination Fees
On or after Oct. 1, 2020 (Current)
- 1.057% origination fee for Direct Unsubsidized Loans
- 4.228% origination fee for Direct Graduate PLUS Loans