School of Medicine

Private/Alternative Loan Programs

General Lender Information

Non-federal, private, alternative loans are credit-based loans that can be used to substitute for, or supplement any federal funds being received. For example, if any scholarship and/or federal aid were not sufficient to meet the full cost of attendance, a private loan might be used to provide total aid equal to the cost of attendance.

The terms, interest rates, index used to calculate interest rate, and minimums and maximum amount of loans, vary by lender.

**NEW LAW-Effective February 14, 2010

As a result of the Truth in Lending Act (TILA) of 2009, borrowers will be required to submit a Private Education Loan Applicant Self-Certification to their lender before funds can be disbursed. Your lender will provide you with this form when you apply for the Private Alternative loan. You can also locate the Self-Certification form online at

Please keep in mind that due to these new requirements, your Private Alternative Loan disbursement may be delayed as required by this new law.

When applying for loans, you will be given the opportunity to select which school you are attending, lenders now only list Tulane University. After picking the school, then you have the opportunity to select the type of loan that you are interested in and terms vary by lender.  Be sure that you apply for a graduate student loan appropriate for a medical students; some are simply referred to as health professions loans and some specify medical student loans.

The following is a list of Tulane's streamlined lenders. It is your decision to determine which lender best fits your needs. Students are encouraged to view each lender's web site and review the benefits offered. General comparison information may be found on Tulane's Lender List pageslocated onELM SELECT Each lender's disclosure statements are on this site as well.


Citizens One


MPOWER Financing

Sallie Mae Smart Option Loan


Discover Student Loans


PNC Bank

Wells Fargo (MedCAP Alt Program)














Health Sciences Financial Aid, Tulane University, New Orleans, LA 70112 504-988-6135