Financial Aid

Xavier University School of Medicine is committed to making a quality medical education affordable for every student. Student loans, scholarships, and payment plan options are available to students and parents to assist in meeting educational expenses.

Financial Aid for U.S. Students

Medinvest Private Loan Program:

Annual Loan Limit: Cost of Attendance, less other financial aid received
Aggregate Loan Limit: $350,000
Variable Interest rate of 7.75% to 9.25%
No payments while in School and during approved Residency program
Grace Period: 6 months
Residency Deferment: Borrowers will need to submit a deferment request every 12 months as long as the borrower is in an approved Residency Program
Borrower must be U.S. Citizen or U.S. Permanent Resident
Students who do not meet the credit criteria may apply with a credit ready co-signer. However, students must still meet certain credit criteria even with a co-signer.

To Apply Click Here: Med Invest Loan Program

*Subject to credit criteria and financial underwriting from financial institutions

Payment Plans

Interest-free payment plans are available to U.S. citizens in MD 1-5 to pay their tuition in two payments. The first payment is due 30 days before the start of the semester and the last payment is due 4 weeks after classes start. Students are required to provide a post dated check or credit card authorization. For more information please contact studentfinance@xusom.com

G.I. Bill

Previous military service entitles students to access their GI Bill benefits. The amount received will be categorized as “full time”.
Each individual must submit an application for education benefits to the VA so they may determine eligibility to receive these benefits. The application forms can be downloaded from their website at: www.benefits.va.gov/gibill

For more information regarding tuition, financial aid, please contact either financialaid@xusom.com or admissions@xusom.com.

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Financial Aid for Canadian Students

Xavier University School of Medicine accepts student loans issued through the Canadian government. The Government of Canada, and most provincial or territorial governments, work together to deliver federal and provincial student loan and grant programs. We encourage Canadian applicants to apply for loans through their local governments. Information can be found at the links below, but please don’t hesitate to contact our Student Finance department (studentfinance@xusom.com) with additional questions.

When applying for a loan to Xavier, please reference our school code: ZPAO

For applicants living in Alberta, apply through Student Aid Alberta:

http://www.studentaid.alberta.ca/

For applicants living in Ontario, we are authorized to work with the Ontario Student Assistance Program:

https://osap.gov.on.ca/OSAPPortal

For applicants living in British Columbia, submit an application with StudentAidBC:

https://studentaidbc.ca/

For general information regarding Canadian student loan programs, please visit the CanLearn website here:

http://www.canlearn.ca/eng/loans_grants/loans/index.shtml

If you are applying from another Canadian province, or have any other questions, please feel free to contact our Student Finance department for further assistance.

Student Loan Program Available to Current, New, & Transfer Students

This Student Loan Program is offered by TD Bank (Canada): Their Cross-Border Student Package allows students to move money from Canada to the US for free, as well as pay any fees (tuition, registration, housing, living expenses, etc.) online from Canada.

Caribbean medical school students can have a Canadian-based student account (no fee) at TD Canada Trust, a US-based student account (no fee) at TD Bank, and can then link the two for money movement, payments, etc.

Eligible Students:

Canadian citizen or permanent resident of Canada with good credit.
Anyone with a Canadian citizen or permanent resident of Canada, as a well-qualified co-borrower/co-signer.

Loan Coverage:

Maximum Loan (first year): $50,000 CAD
Aggregate Maximum Loan: $200,000 CAD
Borrower must be a full-time, currently or newly enrolled student at Xavier University School of Medicine.

Loan Features:

Repayment amount is 1% or $50, whichever is greater; can be deferred for up to 12 months post-graduation.
Interest-only payments are required during school until the repayment period begins.
Student can continue to access funds during clinical rotations.
Rate is prime during the entire life of the product.