.

Federal Financial Assistance Programs

 Federal Loans

Federal Work Study

Veterans


 

 Federal Direct Student Loans

Coronavirus and Forbearance Information

Funds are issued in two or three installments during the academic year – one installment each semester. The academic year starts in summer and ends in spring.  Loan payments are disbursed to TUC through your TouroOne account after enrollment and/or satisfactory academic progress have been verified. 

You must be registered for at least 6 credit hours that are required toward your degree or certificate in order for funds to disburse.

Additional Federal Student Aid Loan Information

 


 

Loan Interest Rates

The interest rate on each loan is based on the date the first loan disbursement of the year and that rate is fixed for the life of the loan. 

The amount of interest that accrues (accumulates) on your loan between your monthly payments is determined by a daily interest formula. This formula consists of multiplying your outstanding principal balance by the interest rate factor and multiplying that result by the number of days since you made your last payment.

 Simple daily interest formula:
 Interest Amount = (Outstanding Principal Balance × Interest Rate Factor) divided by 365.

 

Interest Rate Table

  Fixed Interest Rate
First Disbursement Date Unsub Grad Plus Undergrad
7/1/21 - 6/30/22*      
7/1/20 - 6/30/21 4.3% 5.3% 2.75%
7/1/19 - 6/30/20 6.08% 7.08% 4.53%
7/1/18 - 6/30/19 6.6% 7.6% 5.05%
7/1/17 - 6/30/18 6% 7% 4.45%
7/1/16 - 6/30/17 5.31% 6.31% 3.76%

 *Rate to be announced mid-May 2021.

Loan Origination Fee - what is it?

Most federal student loans have loan fees that are a percentage of the total loan amount. The loan fee is deducted proportionately from each loan disbursement you receive while enrolled in school. This means the money you receive will be less than the amount you actually borrow. You’re responsible for repaying the entire amount you borrowed and not just the amount you received.  This fee is assessed only at the point that the loan is disbursed. It is not on-going for the life of the loan as is interest.  See the table below for current rates.

Loan Fees for Direct Unsubsidized Loans

First Disbursement Date
Loan Fee
On or after 10/1/20 and before 10/1/21
1.057%
On or after 10/1/19 and before 10/1/20
1.059%

Loan Fees for Direct PLUS Loans

First Disbursement Date
Loan Fee
On or after 10/1/20 and before 10/1/21
4.228%
On or after 10/1/19 and before 10/1/20
4.236%

 


Federal Work-Study Program

The purpose of the Federal Work-Study program is to stimulate and promote part-time employment, particularly for those with great financial need.

Part-time positions available through the Federal Work-Study Program involve work at the University occasionally in another private non-profit organization. Students may work no more than 20 hours per week when classes are in session. Some positions have lower maximum work hours.  Federal regulations require that the student’s net earnings must be applied against the student’s cost of education for his/her next period of regular enrollment at the University.

The minimum pay rate for Federal Work-Study positions at Touro University California is $16.00 per hour effective 7/1/19 and students are paid according to established payroll procedures.

Eligibility for the University Work-Study Program is determined by Touro University California's Financial Aid Office. 

See our Work Study page for more information.


Veterans

The Office of the Registrar administers Veterans benefits at TUC.

Apply for Veterans Benefits

Contact Financial Aid for a Shopping Sheet and see our Cost of Attendance Forms

"GI Bill®” is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at www.benefits.va.gov/gibill.”


 Armed Forces Health Professions Scholarship Program (HPSP):

Each year the Air Force awards scholarships through the Armed Forces Health Professions Scholarship Program (HPSP). It pays for tuition, books and most fees. The HPSP also gives students a monthly stipend for living expenses while they attend the school of their choice. Your commitment to the Air Force is to serve as an active-duty member with a year-for-year repayment, with a minimum obligation of three years.
 
Qualifications: 
All applicants must be a U.S. citizen and be accepted at an accredited graduate institution in an appropriate Health Professions training program.

Army Health Professionals Scholarship Program

http://www.goarmy.com/amedd/education/hpsp.html

 Navy Health Professional Scholarship Program

https://www.med.navy.mil/sites/pubproto/Lists/Info_Pages/DispForm.aspx?ID=22


Health Professional Scholarship Program - Veterans Health Administration

https://va-ams-info.intelliworxit.com/hpsp/   

___________________________________________

Yellow Ribbon Program 

In gratitude for your service to our nation, Touro University is a Yellow Ribbon School for the eligible 100% Post 9-11 students.  The Yellow Ribbon Program may fund the tuition and fee expenses that exceed the VA national annual maximum allotted to private institutions. More information about the program may be found on the Veterans' website for Yellow Ribbon. 


See Other Financing Options for information on Private Loans.

 For other questions, contact the Financial Aid Office.