Built to Support the Path to Practice
The South Carolina Student Loan Graduate Medical Loan helps Edward Via College of Osteopathic Medicine (VCOM) students at all four campuses finance their education with competitive rates, flexible terms, and personalized support.
*The Professional Graduate Loan is not being offered or made by VCOM, but by South Carolina Student Loan Corporation (SCSLC).
- Benefits
- Eligible Costs
- Term Lengths
- Repayment Plans
Benefits for VCOM Students
As a nonprofit lender, we focus on responsible borrowing—offering affordable financing options like deferred payments and rates that reward success.
Performance-Based Rates
We reward your academic record–not just your credit score–when determining your interest rates.
Deferred Payments
We offer many repayment options, including deferred payments while enrolled and during residency.
No Fees
No origination fee means more of your loan funds are available to pay your school expenses. Also, there are no prepayment penalties.
Auto-Pay Discount
We offer a 0.25% interest rate reduction for borrowers who sign up for recurring automated payments.
What Else You Can Use Your Loan to Pay For
The Medical Loan can be used to cover all educational expenses, beyond tuition and books.
Board Exams & Prep
Exams like the USMLE and the study guides and materials you need to prepare for them.
Technology
Software, tablets, laptops and related accessories.
Interview Expenses
Application and travel costs for when you’re ready to start the interview process.
Medical License Fees
Obtaining a medical license or other credentials.
Medical Supplies & Tools
Required medical equipment like scrubs, gloves, stethoscopes, and lab coats.
Living Expenses
Day-to-day costs like food, transportation, parking, and rent.
Multiple Repayment Term Lengths
With South Carolina Student Loan, you have options. How much time do you want or need to pay off your loan?
5 Year
Our shortest term length offering. This may be a good option for those who plan to repay their loan aggressively.
10 Year
The 10-year term is also shorter than the average number of years people manage to repay their medical school loans, and may be chosen for similar reasons as the 5-year term.
15 Year
The 15 year option is a more common choice for those with higher loan amounts who want lower monthly payments and/or to pay less total than the longest term.
Flexible Repayment Plan Options
Choose from our multiple repayment plan options to find which best suits your needs.
Interest-Only Payments
Lower your monthly payments by covering only accrued interest while in school or residency until full repayment begins.
Deferred Payments
Postpone payments while in school or residency to you can stay focused on your education.
Flat Payments
Pay a low, fixed monthly amount during school or residency to reduce your total interest over the life of your loan.
Immediate Payments
With a qualified cosigner, you can begin making full principal and interest payments to save the most on interest over time.
Healthy Finances with Med School Loans
Our competitive interest rate loans can help cover tuition, books, housing, and other educational expenses. That support is especially important for medical students, whose costs often extend beyond the classroom to include indirect educational expenses like transportation, professional exam fees, or even technology like a laptop. Whatever med school brings your way, we can help you cover the cost.
Why Choose South Carolina Student Loan?
We offer student-first benefits designed to support you through medical school.
Competitive Rates
As a nonprofit, we offer competitive rates for every year of grad school.
Personalized Guidance
Our expert advisers offer personalized guidance so you can make the best borrowing decision.
Residency Deferment
We offer up to 60 months of deferred payments during residency, depending on the term of your residency program.
Flexible Plans
With us, you have multiple repayment plan options.
50 Years of Experience
Our expert advisers offer personalized guidance so you can make the best borrowing decision.
Multiple Uses
Loans can be used for both direct and indirect educational expenses, such as transportation, professional exam fees, and a laptop.
Grad Loans for Medical School Degrees at a Glance
- What are the interest rates for medical school loans?
Fixed and variable options are available—and rates start as low as 3.000%* with no application or origination fees.
*Lowest rate reserved for the most creditworthy borrowers. Rate shown includes a 0.25% reduction for recurring automated payments. Rates based on credit, underwriting requirements, and loan terms and conditions. Annual Percentage Rate (APR) from 3.752% - 12.692%.
Pricing will be based on:
- FICO
- GPA / MCAT Score
- Year in school
- Future earnings
- What can the loan be used for?
For medical students, expenses frequently extend beyond the classroom to include indirect educational expenses like transportation, professional exam fees, or even technology like a laptop. Loans can be used for these expenses, as well.
When in doubt, reach out to the financial aid office for clarity.- Can the loans be used for any type of graduate school?
For eligible borrowers, graduate loans can be used for any accredited medical school. Loans cannot be used for private proprietary colleges.
- How much can I borrow for medical school?
MINIMUM LOAN
The minimum loan amount is $2,500. Borrowers can borrow up to the cost of attendance, minus any other financial aid (as certified by the school).
MAXIMUM DEBT
The maximum total debt is $350,000 for borrowers and cosigners, including previous SCSL loans.
- Do I have to pay up-front fees?
There are no application or origination fees associated with this loan. Zero origination fees deducted from the loan means more loan funds are available to pay school expenses.
For comparison, the origination fee exceeds 1% on federal Direct Subsidized and Unsubsidized loans and 4% on federal Direct PLUS loans.
- Do I have to make payments while I'm still in school?
You do not have to make payments while enrolled; however, you may elect to make immediate, regularly scheduled payments of principal and interest each month. Or you could postpone regular payments of principal and interest while enrolled in school, which is known as the 'Deferment Period.' The Deferment Period begins on the date the loan is first disbursed, then ends six (6) months after you cease to be enrolled at the school at least half-time or exit your residency period (if applicable), whichever is later. During the Deferment Period, you have three repayment options: monthly interest-only payments, fixed $25 monthly payments, or fully deferred payments.
- When do I start making full repayment (principal + interest)?
Students may choose from four repayment options: immediate, flat, interest-only, or deferred. If a student selects immediate, flat, or interest-only repayment, payments are required while enrolled in school. If deferred repayment is selected, full monthly payments of principal and interest must begin within 60 days after the deferment period ends.
The servicer will provide the borrower with repayment information and billing statements so it is important that any change of address is provided to the servicer as soon as it is known.
- What is the interest rate based on?
Borrowers may select a fixed or variable interest rate.
The actual interest rate will be based on creditworthiness, selected repayment term, program requirements, and the repayment option you choose.
Rates will be disclosed in the Approval Disclosure.
Variable interest rates are based on the 1-Month Term Secured Overnight Financing Rate (SOFR). Your rate will be effective quarterly on each January 1, April 1, July 1, and October 1. The rate will not increase more than once a quarter, and your interest rate is capped at 18%. A change in the interest rate may cause the amount of the monthly payment to increase or decrease, or may cause the number of payments to change.
A fixed interest rate means that the interest rate is fixed for the life of the loan. Fixed interest rates may be as low as 3.000%*.
Signing up for recurring automated payments with the servicer will reduce your interest rate by 0.25%.
See Disclaimer at bottom of page for more details.
Talk to an Expert
Medical school is hard enough. Let our trusted advisers assist you with program eligibility, the application process, deferment during residency, and repayment options–so you can confidently navigate your funding and stay focused on your path to practice.
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