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TCMC to participate in Title IV Federal Direct Student Loan Program

Thursday, August 05, 2020

TCMC students can qualify for federal financial aid

Scranton, Pennsylvania –The Commonwealth Medical College (TCMC) recently received notification from the United States Department of Education that it has been granted provisional certification to participate in the Title IV Federal Direct Student Loan Program. Under Title IV, TCMC students can qualify for the government guaranteed, simple interest, no collateral loan program that allows students a much more desirable fixed interest rate for school loans and repayment is delayed until six months after leaving school or graduating. Federal loans allow students to borrow for all education expenses including tuition, fees, books and living expenses.

According to the American Medical Association (AMA), the average medical school educational debt for the class of 2009 was $156,456.

“This is an enormous burden for students beginning careers in medicine and is often the determining factor in choosing what medical specialty they decide to practice in,” stated Robert D ‘Alessandri, MD, President and Dean of The Commonwealth Medical College. “By obtaining Title IV eligibility, our students can qualify for federal loans and scholarships and grant opportunities that can reduce their medical school debt and give them a wide variety of specialty options including primary care, that will meet our region’s future healthcare needs,” Dr. D’ Alessandri continued.

Students who wish to apply federal loans need to complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. TCMC’s school code is G41672.

Media contact:
Anne Green
Manager of Marketing Communications
Office (570) 504-9687
[email protected]