Tuition charges for our Post-Baccalaureate Program for 2012-2013 are $15,750. In addition a $250 fee will be assessed to help defray the cost of the Virginia Tech comprehensive fee that is paid by VCOM on behalf of our students. The official 2012-2013 Cost of Attendance estimate and a Suggested Budget for living expenses are available here:
There are currently Private loan options available through Wells Fargo and Sallie Mae. Wells Fargo offers a Collegiate Loan. Sallie Mae offers a Smart Option Loan. Both of these options are Private loans with terms that will vary from lender to lender. Be sure to read all of the terms and conditions for the loans on your promissory note. Our Post-Baccalaureate Program is not eligible for Title IV federal student aid, such as the Stafford or Graduate PLUS loans.
Private loans do require credit approval, so it’s important to have an accurate credit history. You are entitled to a free copy of your credit history each year from each of the three major credit bureaus. You can request all three copies through their combined website at www.annualcreditreport.com. Loan applications cannot be submitted to lenders more than 60 days in advance of you starting classes, so you have plenty of time to review your credit history and appeal incorrect information.
As you compare Private loan options, pay particular attention to the interest rate range, origination and processing fees, repayment options, and deferment or forbearance options. Private loans all have variable interest rates that fluctuate with the market rate and your credit score. Some Private loans have upper or lower interest rate limits, but others do not. Deferment and forbearance options are not guaranteed on Private loans like they are on federal loans. If you are planning to continue into a medical school program or other degree program, be sure to check whether or not this Private loan can be deferred during your continued schooling and residency. For example, Sallie Mae requires a minimum monthly payment of $25 even while you are in school. Any Private loans that enter repayment during additional schooling cannot be including in the living expenses part of that program’s Cost of Attendance, so you would need to budget accordingly.
We are continuing our efforts through communication with other lenders to secure additional financing options. We will publish that information as it becomes available.