Applying for Loans
There are three types of educational loans for which you may apply. You may apply for these loans as late as July each year, although we strongly encourage you to apply as soon as you have accepted the School’s offer for a place in the Class.
Federal Direct Loan
$40,500 each year - Each student is guaranteed to receive this funding by completing the FAFSA on line and acceptance into veterinary school. You will receive $40,500 each year, during the four years of your veterinary education.
Federal Direct Grad PLUS Loan
- This loan may be used to meet any remaining educational expenses and to cover any parental contribution. The Grad PLUS is a credit-based loan. You should review your credit report and take steps to resolve any issues before applying for this loan. If you have adverse credit, you may not be able to secure this loan. The University cannot offer any financial assistance to replace this loan.
Health Profession Loan
- Subsidized loan with a 5% fixed interest rate. This is a need-based loan, so if you wish to apply for the Health Profession Loan, you MUST complete the Graduate and Professional Student Financial Aid Application and provide your parents' and your tax information, regardless of your age or marital status; or parents’ willingness to pay. Eligibility is determined by your parents' assets (income, property, savings), and your (and your spouse’s) assets.
1. All students MUST submit a Free Application for Federal Student Aid (FAFSA) form between January 1 and May 1 each year at: www.fafsa.ed.gov. The FAFSA Code for the University of Pennsylvania is 003378. A FAFSA must be completed and filed every year in order to receive Federal Direct Loans.
*If you are applying ONLY for a Federal Direct Loan or Federal Direct Grad PLUS Loan, you do not need to complete any other form nor provide parent information when you complete your FAFSA. Simply complete the FAFSA form online.
2. If, in addition to your Federal Direct and Federal Direct Grad PLUS Loans, you wish to have your eligibility determined for the Health Profession Loan, you must:
Used to help secure extraordinary students who will be important to Penn Vet and the Veterinary profession. Successful applicants illustrate great potential in veterinary school, have a plan for the future that has begun to be acted upon and look globally in practicing veterinary medicine. While grades and test scores may be important, they are not the deciding factor in the selection process.
A $12,000.00 scholarship ($3,000 per academic year) awarded to first-year students. The award recipients are selected based on academic merit and interests, extra-curricular activities and financial need. Opportunity Scholarships foster scholarship support and mentoring opportunities by pairing a mentor with a single student for their four year veterinary career.
Annual scholarships made possible by the generous donations of the Penn Vet community awarded to continuing students. The frequency and number of scholarships awarded depend upon the available funding, however the current minimum award amount of Penn Vet Scholarships is $5,000.00.