USA
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.
