Beginning in the Fall 2009 semester, UofL is participating in the William D. Ford Direct Loan Program. The Direct Loan Program is when eligible students borrow directly from the federal government. Direct Loans include Unsubsidized Direct Loans, Direct Graduate/Professional PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to the U.S. Department of Education.

Effective July 1, 2012, there are no longer Subsidized Stafford or Direct loans for Graduate/Professional students.

For more information about the specific loans, please review the information listed below.

1. Federal Direct Loan Information

Direct Unsubsidized Loans

  • Direct Unsubsidized Loans are not based on financial need. However, your award cannot exceed your cost of attendance.
  • You are charged interest on a Direct Unsubsidized Loan while you are in school or other nonpayment period. You can pay the interest during those times, or you can have it added to your principal (capitalized).
  • Depending on need, loan limits and year in school, the maximum amount of the Direct Unsubsidized Loan you can receive each year of medical school ranges from $42,722 to $47,167.

General Direct Loan Information

  • The maximum aggregate amount of Direct Unsubsidized Loans you can receive each year of medical school is $42,722 for M1, $44,944 for M2, $47,167 for M3 and $42,722 for M4.
  • You will be awarded the full Unsubsidized Loan amount unless you are at the aggregate limit of $224,000 or have other aid up to the Cost of Attendance.
  • The 2022-23 interest rate for Unsubsidized Stafford Loans is fixed at 6.54%.
  • The maximum aggregate amount of Direct Subsidized Loans and Direct Unsubsidized Loans combined you can receive as a student, including undergraduate, graduate and professional school, is $224,000.
  • Repayment on all Direct Loans begin six months (grace period) after you graduate or drop below half-time status.
  • A 1.057% origination fee is charged at disbursement.

2. Federal Direct Grad PLUS Loan Information

  • The maximum amount of Grad PLUS Loans you can receive is the cost of attendance minus all other aid received (Direct Unsubsidized, scholarships, etc.).
  • The Grad PLUS Loan is awarded only after all Direct Loan eligibility is awarded.
  • You are charged interest on Grad PLUS Loans while you are in school.
  • The 2022-23 interest rate for Grad PLUS loans is fixed at 7.54%.
  • A 4.228% origination fee is charged at disbursement.
  • Repayment on all Grad PLUS Loans begins 60 days after the loan is fully disbursed. However, a student can request an in-school deferment.

3. Primary Care Loan or Loan for Disadvantaged Students Information

  • Parental data is required to be considered for Primary Care Loan (PCL) or Loan for Disadvantage Students (LDS).
  • Need based loans.
  • Primary Care Loan requires specific primary care residencies to practice.
  • 5% simple interest loan that does not accrue interest during school and approved deferment periods.
  • Sign PCL or LDS promissory note on-line under the Bursar's office tab.
  • Contact Financial Aid at the School of Medicine if you have questions or you are interested in being considered for PCL or LDS loans.


Loan Repayment Plans

Below, are a few of the loan repayment plans available to medical students. Click on the links for more information about each plan.

  1. AAMC Loan Repayment Options
  2. Direct Consolidation Loans
  3. Standard Repayment Plan
  4. Graduate Repayment Plan 
  5. Extended Repayment Plan
  6. Income Based Repayment (IBR)
  7. Pay As You Earn Repayment (PAYE)
  8. Revised Pay As You Earn (REPAYE)
  9. Income Contingent Repayment Plan (ICRP)
  10. National Health Service Corps - Loan Repayment Program


Interest Rates for Federal Loans :

New fixed interest rates listed below will apply for the life of the federal loans issued


Direct Stafford Unsubsidized Loans

Direct Grad/PLUS Loans


6.54% (1.057%)7.54% (Fees 4.228%)


5.28% (Fees 1.057%)6.28% (Fees 4.228%)


4.30% (Fees 1.057%)5.30% (Fees 4.228%)

7/1/19 - 6/30/20

6.08% (Fees 1.059%)7.08% (Fees 4.236%)
7/1/18-6/30/196.6% (Fees 1.062%)7.6% (Fees 4.248%)
7/1/17-6/30/186% (Fees 1.069%)7% (Fees 4.276%)
7/1/16-6/30/175.31% (Fees 1.069%)6.31% (Fees 4.276%)
7/1/15-6/30/165.84% (Fees 1.068%)6.84% (Fees 4.272%)