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Frequently asked questions
Indebtedness and repayment
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How much will I owe when I graduate?
- See our most recent debt statistics.
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When will I have to start repaying?
- Direct Loans offers a variety of repayment options including extended, graduated, income-contingent, and income-based repayment. If all else fails, there is mandatory medical internship/residency forbearance, which requires the Stafford or Ford Direct loan lender to let the interest accrue on your loans but requires no payments while you finish your residency. During your last month before graduation, you will participate in exit counseling which will give you a listing of all your loans, your lenders' addresses and telephone numbers and the options you have to maneuver financially through your internship/residency.
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How much will my monthly loan repayments be?
- It is difficult to predict loan repayment amounts, because some of your loans have variable rates. It is also a function of how many different programs you borrow from since each have minimum payments. Most of the loans have 10-year repayment schedules initially. With this schedule, the typical monthly payment for a graduate of our school would be between $1,200 and $1,800 month. However, the Direct Loan Consolidation Program, which refinances your loans for a longer period of time, can reduce your monthly payments by one-third on a standard repayment schedule. The Federal Direct Loan program also offers graduated, extended, income-based and income-contingent repayment schedules.
Financial Aid Contact Information
Write:
Cheri Marks
Coordinator, Financial Aid
School of Medicine
MA215 Medical Sciences Building
Columbia, MO 65212
Call
(573) 882-2921
E-mail
marksc@health.missourui.edu
Fax
(573) 884-2988
Office hours
8 a.m. to 5 p.m.
Monday to Friday
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