Institutional Loans

Brown University offers various institutional loans to undergraduate and medical students.  The Financial Aid Office or Alpert Medical School Office of Financial Aid will determine eligibility for each of these programs.

Undergraduate students

The Brown 20th Century Loan may be offered to students with high financial need determined by the Office of Financial Aid.  

Brown University 20th Century loan
Loan Amounts:
Determined by the Office of Financial Aid
Interest Rate:

Fixed interest rate is set annually:

2019-2020 rate: 6.4%

2018-2019 rate: 6.9%
2017-2018 rate: 6.4%
2016-2017 rate: 5.7%
2015-2016 rate: 6.2%

Grace Period: 6 months
Loan Repayment Term: 10 year repayment term

The Brown 20th Century Loan fund is available based on generous donations:
Alumni Loan Fund (est. 1900), Charles W. Brooks, Mary D Chafee, George Champlin, Charles of the Ritz, Class of 1928, Class of 1982, Arthur Francis Ballou, Alexander Graham, S. Jansen Hunt, Inland Steel-Ryerson Foundation, James Stanton Kenyon, Sylvia Magaziner, Morris Morgenstern, Pembroke Dean's Fund (est 1930), Plantations Fund, Rand Aid, Alfred and Ernest Reiss, C. Semenoff, Teavy and Holly Udis, Pembroke College (est 1958) 

Medical students

Students may apply with the Alpert Medical School Office of Financial Aid to be considered for need-based university loans. These loans are subsidized during school, and for up to three years of a medical residency.

Loan Type Interest Rate Grace Period
Ellwood 7% for loans disbursed on/after 7/1/11 6 months
Medical 7% 6 months
Casperson 7% 6 months
Kaplan 7% 6 months
Plitt/Anderson 5% 6 months

 

Urban Education Loans for Graduate Students

A limited number of graduate students may be awarded the Brown University Urban Education Policy Loan or the Brown University Urban Education Teacher Loan.  The Graduate School Education department determines students eligiblity for these loan programs.  These are forgiveable loan programs that may be cancelled (forgiven) based on the completion of 3 years of qualifying service, as indicated in the loan promissory note. Note that all required documentation must be submitted by the student and approved by Brown University in order to receive loan forgiveness.

Qualifying Service for Loan Forgiveness

Brown University Urban Education Policy Loan:  completed three (3) consecutive years of service in a qualifying position in a public school system, non-profit entity, or public sector education organization (hereinafter jointly and severally referred to as the “School”) within the Providence, Rhode Island urban core region.  To be considered a Providence urban core region, (1) the school or district must be qualified for federal funds in the year for which the cancellation is sought, and (2) more than 30% of the school’s enrollment must be made up of children from low-income families. A qualifying position is based on the duties presented in an official position description of the School and is subject to review and approval by the Provost of Brown University in consultation with the Chair of the Education Department.

Brown University Urban Education Teacher Loan: three (3) consecutive years of full-time service as a teacher in a qualifying position in a public school system, non-profit entity, or public sector education organization (hereinafter jointly and severally referred to as the “School”) within the Providence, Rhode Island urban core region.  To be considered a Providence urban core region, (1) the school or district must be qualified for federal funds in the year for which the cancellation is sought, and (2) more than 30% of the school’s enrollment must be made up of children from low-income families. A qualifying position is based on the duties presented in an official position description of the School and is subject to review and approval by the Provost of Brown University in consultation with the Chair of the Education Department.

 

Loan Repayment

Learn more at Repay Your Loans.