Sources of Funding

More than 80 percent of Keck medical students receive some type of financial assistance from the USC Financial Aid Office. Each year, USC awards $38.4 million in need-based grants, merit scholarships, loans and Federal Work-Study through a combination of state, federal, university and private funds. This section covers each of these resources and how to qualify for them.

  • The majority of medical students borrow from a variety of loan programs to fund their medical education. However, you should consider your indebtedness from other academic programs when determining how much to borrow for medical school. Information about average indebtedness for medical students is available from the USC Financial Aid Office.

    Medloans® Organizer and Calculator

    Medloans is the only calculator of its kind, developed by the Financial Information, Resources, Services, Tools (FIRST) team of the Association of American Medical Colleges (AAMC). The MedLoans Organizer and Calculator is specifically designed for medical students and completely free to use.

    This tool provides students with a safe, secure environment to organize and manage loan information and explore loan repayment options. It calculates detailed repayment scenarios while accurately accounting for residency and fellowship training periods.

    The calculator is available at aamc.org/first. Log in with your AAMC username and password to get started.

    USC Emergency Loans

    Students may borrow up to $1,000, interest free, for up to 90 days. More information can be found on the Campus Support & Intervention website.

  • Federal Direct Loan

    Federal Direct Graduate PLUS Loan

    Private Financing

    Loans for Disadvantaged Students – see below

    Primary Care Loan – see below

  • Eligibility

    To be considered, apply for financial aid by the April 1, 2025, deadline. For details, please visit the Application Timeline page. You will be required to demonstrate that you meet the financial need criteria by providing federal tax returns. Tax returns may be required from both the student and their parents.

    You will be notified of the eligibility criteria in August. Eligibility is re-evaluated each year.


    Receiving Your Funds

    If you qualify, this loan will automatically appear on your financial aid summary. You will need to sign a Master Promissory Note (MPN).


    Loan Features

    • These loans are repayable over a 10-year period.
    • The 5 percent interest rate is subsidized until repayment begins, nine (9) months to one year after your USC enrollment ends.
    • Repayment may be deferred during advanced professional training, such as an internship or residency.

    Please note: Available funding for these loans is extremely limited.

  • Eligibility

    To be considered, apply for financial aid by the April 1, 2025, deadline. For details, please visit the Application Timeline page.

    You will be required to:

    • Demonstrate that you meet the financial need criteria by providing federal tax returns. Tax returns may be required from both the student and their parents.
    • Pursue a career in primary care.

    You will be notified of the eligibility criteria in August. Eligibility is re-evaluated each year.


    Receiving Your Funds

    If you qualify, this loan will appear automatically on your financial aid summary. You will need to sign a Master Promissory Note (MPN).


    Loan Features

    • These loans are repayable over a 10-year period.
    • The 5 percent interest rate is subsidized until repayment begins, one year after your USC enrollment ends.
    • Repayment may be deferred during advanced professional training, such as an internship or residency.

    Please note: Available funding for these loans is extremely limited.

    Borrower Agreement

    Borrowers agree to enter and complete a residency training program in primary health care no later than four years after graduation from USC.

    Qualifying residencies need to be:

    • Three-year programs, approved by the Accreditation Council on Graduate Medical Education.
    • Completed in family medicine, general internal medicine, general pediatrics, combined medicine/pediatrics, or preventive medicine.

    Additionally, borrowers agree to:

    • Practice in primary health care (family medicine, general internal medicine, general pediatrics, combined medicine/pediatrics or preventive medicine) until the date the loan is paid in full.
    • Certify practice in primary health care on an annual basis until the loan is paid.

    Consequences of Non-compliance with the Service Obligation:

    • The balance due on the loan will be recomputed from the date of issuance (using the original principal) at an interest rate of 18 percent per year, compounded annually.
    • The recomputed balance must be paid within three years of the date on which the student failed to comply with the agreement.

  • Please refer to the links below to learn more about programs administered by outside sources:

    National Health Service Corporation

    National Institutes of Health

    Armed Services

  • Pay close attention to deadlines. We recommend that you submit all forms and supporting documents two (2) weeks before the deadline and respond to any additional requests from USC within 10 days.

    You can track your status through your Financial Aid Summary and Tasks (FAST) portal.

    Loan Application Alert: To have your loan funds deposited to your student account, you must complete some additional steps no later than 30 days before the start of your first semester. For more information, refer to the loan types below:

    Direct Loan

    Direct Graduate PLUS Loan

    Private Financing