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LOAN APPLICATION PROCESS

The application period for Fall 2021 semester will be from July 7th, 2021 to August 24th, 2021. All decisions will be made before the semester start date.

Upon requesting the loan application and consent forms, Delta emails you and your co-signer an electronic application and charges you a non-refundable $100 application fee. Once all the paperwork and fees are received, you shall receive an email from TuitionFlex to complete an online information sheet for preapproval. Once you are preapproved, you will have to pay an addtional origination fee of $100 per loan, which you shall be invoiced seperately. Once this payment is received, your loan application will be deemed complete and your loan servincing date shall be the beginning date of the semester which you have chosen to join.

During the application process, you and your co-signer are provided with various disclosures regarding costs and fees and given the opportunity to reconsider proceeding with the loan.

Saint James School of Medicine’s Finance Department is happy to answer any questions you may have about the loan application process. Just submit a ticket to Financial Helpdesk. For questions once the loan has been approved, please contact customerservice@launchservicing.com or call 877-354-2629 (8 am to 5 pm CST)

 

SUMMARY OF THE DELTA STUDENT FINANCIAL ASSISTANCE PROGRAM

Prospective Students Current Basic Sciences Students Current Clinical Sciences students
Status at application Reserved a seat/enrolled Current student Current student
Academic Criteria 2.5 GPA min. 2.5 GPA min. Passed USMLE Step 1 exam
Co-signer required Yes Yes Yes
Minimum payment to Delta Interest only for the first 50 months, then full principal and interest Interest only for the first 50 months, then full principal and interest Interest only for the first 50 months, then full principal and interest
Payments to Saint James Varies between campuses Varies between campuses $1,412.50/month hospital surcharge, Student liability insurance
Fees (per loan) $100 application fee $100 origination fee on approval $100 application fee $100 origination fee on approval $100 application fee $100 origination fee on approval
Maximum benefit per semester $4,500 $4,500 $4,200
Full payoff begins 50 months after intial date of loan
Payoff term 10 years after full repayment begins
Interest Rates Interest rates will vary based on the above criteria.
Continuing eligibility Student must maintain 3.0 GPA, must pass USMLE step 1 within 4 months of completion of MD V, must be in good academic standing, must maintain Hospital surcharge payments as well as difference in tuition payments to the school and must be in good standing with Delta.

*If a student transfers or leaves before completing the program, loan payoff begins immediately. If a withdrawing/transferring student is due a refund, the refund will first be applied towards any outstanding balance with Delta Financial Solution, Inc.

REQUIREMENTS TO APPLY FOR A DELTA STUDENT LOAN


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