External

From time to time our college is notified about an External loan possibility for our students. These external loans are usually offered by trusts, foundations, companies, hospitals, and many other entities. Many times these loans have better interest rates and terms than those of Federal and private bank loans. Below is a description of some of these loan possibilities. If you believe you meet the criteria for one of more of these loans, please email our office at medfinaid@osumc.edu.

1. Interest of 2% on loans of up to $10,000. The student is responsible for paying the interest while in school and the student will be given 6 years to pay back the loans after graduating from medical school. The trustee of this loan would prefer that the student be from Ohio and commit to practice in the Columbus geographical area. However, all students can apply.

2. No interest loans for those students who will commit to practice in the Lima/Allen county area upon graduation from their residency program. This program also offers a mentoring program where students are paired with a local physician based on their specialty interest.

3. Interest-free loan available to American students, studying in the U.S. or abroad, who are entering their final year in a baccalaureate or graduate degree program. The maximum awarded per year is $5000. This is a competitive loan program taking into consideration your level of motivation, financial need, self-reliance and scholastic record. You must write to the Foundation, giving a brief personal history and identification of the educational institution you are attending, your field of study, your anticipated graduation date and the amount of funds needed. If you qualify for consideration for a loan, a formal application will be sent to you to be completed and sent back to the Foundation. Please enclose a self addressed stamped envelope with your application.