Glendale Campus Overview

Glendale, AZ Campus

Midwestern University

Federal Student Loans

Glendale, AZ Campus

Federal Perkins Loan: Qualified graduate students with exceptional financial need may borrow from this campus-based loan program. The interest rate is 5%. Loan amounts and availability of funding are dependent on annual Federal allocations. Awards typically range from $1,000 to $2,000 per academic year. A student may borrow an aggregate maximum of $60,000 for undergraduate and graduate study. The student borrower will also receive a nine-month grace period and may defer or have the loan forgiven in certain circumstances.
Subsidized Federal Direct Stafford Loan: Graduate students enrolled at least half-time in a degree seeking program may borrow up to $8,500 per academic year, with an aggregate maximum of $65,500 for undergraduate and graduate study. Students borrowing the Stafford loan must repay their loan at a fixed interest rate of 6.8%. The federal government pays this interest while students attend school, as well as during a six-month grace period. Effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate students are no longer eligible to receive Direct Subsidized Loans. All Direct Loans will be unsubsidized, but the amount of eligibility remains unchanged. The terms and conditions of Direct Subsidized Loans received by any graduate student for loan periods with a disbursement prior to July 1, 2012, are not affected by this change.
Unsubsidized Federal Direct Stafford Loan: Graduate students enrolled at least half-time in a degree seeking program may borrow up to $20,500 per academic year with an aggregate maximum of $138,500 for undergraduate and graduate study (includes amounts borrowed under the Subsidized Stafford program). Students enrolled in the osteopathic medicine, dental medicine, clinical psychology and pharmacy programs are eligible to apply for higher annual loan limits based on their program of study and year in school and may borrow up to an increased aggregate loan maximum of $224,000 (includes amounts borrowed under the Subsidized Stafford program). Students borrowing the Stafford loan must repay their loan at a fixed interest rate of 6.8%. The student is responsible for payment of the interest but may elect to have the interest accrue and capitalize while enrolled.
Federal Direct Graduate PLUS Loan: Graduate students enrolled at least half-time in a degree seeking program may borrow up to the budgeted cost of attendance less other aid. Students borrowing the Graduate PLUS must repay their loan at a fixed rate of 7.9%. Repayment of the loan begins 6 months after graduation, withdrawal, or upon enrolling on a less than half-time basis. Students should check with the lender for deferment eligibility.

Primary Care Loan: Priority consideration is given to certain third- or fourth-year students with exceptional financial need who are committed to practicing primary care medicine. Such students may borrow this campus-based loan that offers a one-year grace period and a residency deferment of up to four years. The interest rate is 5%. Students must agree to enter and complete a residency training program in primary care medicine not later than four years after the date on which they graduate. Students must also agree to practice primary care medicine through the date on which the loan is repaid in full.
Arizona Student Medical Loan Program: The State of Arizona is expected to fund medical students who have signed contracts but, due to the shortage of funds, is no longer providing funds to new students in the Arizona Medical Student Loan program.