Loan Program for U.S. Citizens & U.S. Green Card Holders
Affordable Financing for Your Medical Education
Avalon University School of Medicine is proud to participate in the Medinvest Medical Loan Program, a new financing option designed specifically for U.S. Citizens and U.S. Permanent Residents. This comprehensive loan covers tuition and on-campus housing costs for eligible students across both the Basic Sciences and Clinical Sciences semesters.
Why Choose Medinvest?
- Full Coverage – Tuition, room, and board for students in Avalon’s on-campus housing (MD Foundational – MD5)
- Clinical Coverage – Tuition and Surcharge (CM1–CM6); housing not included
- Flexible Interest Rates – Competitive, credit-based rates to support your future
- No Payments During School – No repayment required while enrolled or during residency
- Extended Repayment Term – 15-year repayment begins after residency completion
- Quick & Easy Application Process – Fast approvals so you can focus on your studies
Eligibility Criteria
- Available to students in Basic Sciences (MD Foundational – MD5) and Clinical Sciences (CM1–CM6; housing not included)
- MD Foundational – MD5 students must reside in on-campus housing to receive coverage for housing and meal plan
- MD Foundational – MD5 students are eligible regardless of housing location; however, housing and meal plans are not covered if living off-campus
- Must be in good academic standing each semester to remain eligible
- Borrowers must be U.S. Citizens or U.S. Permanent Residents
What’s Not Covered
Please note the loan does not cover:
- Insurance fees (paid per semester)
- For new students: registration fee, immigration fee, and academic supplies
- Non-tuition fees (e.g., Leave of Absence, malpractice, retake exams)
Credit Requirements
- Score 660+ – Apply without a co-signer
- Score 620–659 – Co-signer required
- Below 620 – Not eligible to apply
- Interest Rates: Interest rates found here
Ready to Take the Next Step?
The Medinvest Medical Loan Program makes your path to becoming a physician more accessible than ever.
Alternative Loan Option (TFC) for U.S. Citizens, U.S. Green Card Holders, and International Students with U.S. Citizen Cosigner
TFC Tuition Financing is a private lender that has been providing tuition financing for students since 1970. To be eligible, students must be a citizen of the United States, and/or a green card holder, and have a valid social security number. International students may apply with a creditworthy U.S. citizen cosigner. The loan program covers tuition only for the basic and clinical science programs. Terms of the loan are subject to GPA, credit score, cosigner, USMLE results (if applicable) and availability. Please consult our admissions department for additional details.
Loan Options from Premed – MD5
1st Option
| Criteria | Terms |
|---|---|
| Credit score of 680+ | Zero down – Basic Sciences Only |
| US Cosigner required | 0% interest while in school (48 months) |
| Covers tuition only |
|
2nd Option
| Criteria | Terms |
|---|---|
| Credit score of 600 – 679 | 6% interest loan repayment terms of 10 years (120 months) |
| GPA 3.0 | Must maintain a 3.0 GPA, or payment terms will be modifies the next semester |
| US Cosigner required | |
| Covers tuition only | Payment of US$150 per month while in school |
Loan For Clinical Sciences Program
| Criteria | Terms |
|---|---|
| Credit score of 650+ | 20% down payment upfront (maximum US$10,000) |
| Passing USMLE Step 1 Score (must be first-time pass) | 0% interest during enrollment |
| Basic Science GPA 3.00+ | Payment of US$300 per month while in school |
| US Cosigner Required |
OTHERS
GI Bill
Calling all U.S. service members and veterans! You now have the ability to use your GI Bill to fund your medical education. Signing up to serve your country requires bravery and a character trait that is very hard to come by, and that same trait, the willingness to serve others, is also seen in our student body. Apply now and we can assist you on your next big adventure in becoming a practicing physician!
CANADA
Avalon University School of Medicine is now OSAP and Other Canadian Student Aid Approved! Avalon University has been approved for Canadian Government Loans for our students, which would include Ontario Student Assistance Program (OSAP), StudentAid BC, & Student Aid Alberta. As a Canadian student, you may be eligible to apply for Student Line of Credit through several banks catering to medical students studying outside of the country. Again, most of these banks will require a cosigner during the application process. If you are interested in applying for a Student Line of Credit, please contact the university bursar.
Avalon University School of Medicine is recognized by the Ministry of Education of Canada and registered on the List of Designated Educational Institutions. This eligibility allows our students to qualify for lines of credit and government loans. Click here and search by our school code: ZUCI
Loans are offered based on the credit history of the students and their cosigners. Below are some Canadian banks that offer multiple student loan options and personal lines of credit for our Canadian students. Please visit the National Student Loans Service Centre (NSLSC). Click here to review funding options.
Canadian Bank Lines of Credit: BMO Bank of Montreal offers a line of credit options for students with a credit-worthy Canadian guarantor up to the full estimated cost of attendance. Please email Tammy Sabesan (Senior Banker) or by phone at 905-475-7988 for more information
INDIA
Loans for Indian Students
Indian students can avail the educational loans through State Bank of India(SBI), Development credit bank (DCB), Union Bank, Canara Bank, Punjab National Bank, and DHFL
PAYMENT PLAN
Premed & Basic Science
Premed & Basic Science: Divide each semester’s tuition by 4 (monthly payments)
Clinical Science
Divide each semester’s tuition by 3 (monthly payments)
Students who wish to apply for the monthly payment plan must contact the Bursar for an automatic monthly credit card contract. Other payment options maybe available upon approval of Bursar. Credit card contract must be submitted 30 days prior to the start of the semester.
Additional individual financial concern should be discussed with the Bursar.
