MTSA encourages serious and deliberate consideration before making any borrowing decision. Education loans come from the federal government, from private sources and from other organizations. Loans from the federal government are federal student loans. There are differences between the federal, private, and personal loans. Interest rates can be lower for education loans than for personal loans and have deferment provisions whereby personal loans may not.
Direct Unsubsidized Loan (Title IV)
Eligible students after filing the FAFSA may borrow up to $20,500 per academic year a non credit-based Federal Direct Unsubsidized Loan. Interest begins to accrue on loans from the date of disbursement and continues throughout the life of the loan. Once borrowers are less than half-time enrolled, their loans begin a six-month grace period before repayment begins. Students may not borrow above and are also limited to borrowing no more than the cost of attendance per loan period.
To borrow the annual loan limit of $20,500 in a federal unsubsidized loan, students must be considered full-time for the academic year. Full-time enrollment equates to at least 8 hours per semester or at least 24 credit hours per academic year. Less than full time enrollment reduces the annual loan limit proportionately based on the student’s percentage of full-time enrollment.
As of July 1, 2026, Graduate students are capped at:
$100,000, aggregate limit for borrowing Federal Direct Unsubsidized Loans
$257,000, lifetime federal loan limit which includes all federal loans except Parent PLUS loans.
For more information about financial aid eligibility when enrolled in the DNAPC & ASPMF or DNAPC & NET simultaneously, please visit the pages below:
Simultaneous Enrollment in DNAPC & ASPMF
Simultaneous Enrollment in DNAPC & NAEP
Direct Graduate PLUS Loan (Title IV)
Graduate PLUS loans are credit-based loans made to credit-worthy eligible borrowers or the student must obtain an endorser who does not have an adverse credit history. Borrowers will complete a PLUS application and master promissory note each new loan period. The interest rate begins to accrue on the loans from the date of disbursement. Loans have a six-month grace period, before repayment begins, when the student ceases to be at least a half-time enrolled student. Borrowing may not exceed the cost of attendance, per loan period.
Due to the non-degree nature of the Fellowship Program, Federal Direct Loans are unavailable. The following are financial assistance programs that may be available to MTSA Fellows:
Private Loans
Private education loans are privately loaned from lenders outside of federal loan borrowing. Private or alternative loans require a separate application, credit check, multiple disclosures and a self-certification form. This is performed each time you borrow for a new loan period.
Most private loans borrowed by the student require a credit-worthy co-signer and offer deferment of principal payments while enrolled.
MTSA encourages careful and thoughtful consideration before making any borrowing decisions. It is important to thoroughly examine all available options each time you borrow for a new loan period. Terms and conditions for a Federal Direct Loan may be more favorable than the provisions of private education loans. The Financial Aid Office will not certify any private loan amount that exceeds the cost of attendance per academic year. The maximum amount is typically limited to the cost of attendance minus other aid.
MTSA has established a private loan lender list to serve as a resource for students seeking private loan options to finance their education. Students have the right to select any education loan provider of their choice. You are not required to use a lender on this list and will not face any penalty for choosing a lender that is not included.
Private Loan Lender List
The Private Loan Lender List is not exhaustive and does not serve as a formal recommendation for one lender over another. In the event you have questions about any of the programs on the list, please connect with our office for assistance.
Finding a Private Loan Lender
The Financial Aid Office uses ELM Select www.elmselect.com to access the private lenders’ and their products and to certify loans. Additionally, you can link to loan applications directly from this site.
The Higher Education Opportunity Act (HEOA) added a section to the Truth in Lending Act to require that before a private educational lender may consummate a private education loan for a student in attendance at an institution of higher education, the private education lender must obtain the completed and signed Self-Certification Form from the applicant. The school is required to provide the form upon request for students enrolled/admitted to MTSA:
Information required by The Code of Federal Regulations regarding Truth In Lending can be obtained here: 15 U.S.C. 1638(e)(3); (link: https://uscode.house.gov/view.xhtml?req=(title:15%20section:1638%20edition:prelim))
Reg Z 12CFR 1026.48€.
Code of Conduct (link: https://www.mtsa.edu/financial-aid/code-of-conduct/)
The Financial Aid Office pledges to display the utmost professionalism and uphold the highest ethical standards in the administration of financial aid. We achieve this by adhering to the code of conduct under the Higher Education Act of 1965, as amended (“HEA”), Title IV, Part G., Section 487(a)(25), which requires Middle Tennessee School of Anesthesia (MTSA) to administer, enforce, and prominently publish the code of conduct on its website.
Alternative Assistance
Sponsorship
Outside assistance may come in the form of scholarships, grants, and tuition assistance. If receiving any outside assistance, please notify the Office of Financial Aid (finaid@mtsa.edu) so any offers of assistance can be added to the financial aid package.
Veteran Education Benefits
MTSA welcomes active-duty military service members, veterans, military spouses and family members. Students who anticipate using Veterans Education Benefits while in attendance at MTSA must notify the School Certifying Official in the Office of Financial Aid by emailing finaid@mtsa.edu. Once accepted to MTSA, students should submit a copy of the Certificate of Eligibility and DD214 (for service member) to begin the process.
https://www.mtsa.edu/financial-aid/veterans-education-benefits/
VA Education Benefits Policy
(Under the Veterans Benefits and Transition Act of 2018)
MTSA permits any covered individual (that individual who is entitled to educational assistance under chapter 31, Vocational Rehabilitation and Employment, or chapter 33, Post 9/11 GI Bill benefits) to attend or participate in the course of education during the period beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33 (a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs (VA) website- eBenefits, or a VAF 28-1905 form for chapter 31 authorization purposes) and ending on the earlier of the following dates:
- The date on which payment from VA is made to the institution, or
- 90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility.
MTSA will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual because of the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement funding from VA under chapter 31 or 33.
Covered individuals:
- must accurately and completely fill out the VA application and submit it to the VA Regional Processing Office, also mailing them copies of buy-ups or kickers contracts, DD214, NOBE forms, signature pages and other important documents for your education claim, before classes begin at MTSA.
- must submit a Certificate of Enrollment and the DD214 (service members) to the MTSA Financial Aid Office in order to process benefits.
- must electronically verify their attendance with the VA each semester.
**GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA).