LOAN APPLICATION PROCESS
The application period for Spring 2020 semester ends on November 13th 2019. No applications will be accepted after that.
Upon requesting the loan application and consent forms, Delta emails you and your co-signer an electronic application as well as a non-refundable $50 application fee. Payment options are included in the invoice.
Please submit your completed application, consent forms, and payment of $50 by Wednesday, November 13th 2019. Delta will then make final loan considerations no later than November 21st. If approved, students must sign and submit the Delta promissory note.
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. Or contact Delta directly at email@example.com.”
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||Based on academic standing||3.0/4.0 GPA||Passed USMLE Step 1 exam|
|Minimum payment to Delta||Interest only||Interest only||Interest only|
|Payments to Saint James||Varies between campuses||Varies between campuses||$1,237.50/month hospital surcharge, Student liability insurance|
|Processing fee (once approved)||$200/every 3rd semester, $800 maximum||$200/every 3rd semester, $800 maximum||$200/every 3rd semester, $800 maximum|
|Maximum benefit per semester||$4,500||$4,500||$4,200|
|Full payoff begins||6 months after graduation or on 51st month of initial enrollment in Basic Sciences program*|
|Payoff term||10 years|
|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 the Basic Sciences program, 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.