#Georgetown #Guyana #Medical Education #Texila American University #Sallie Mae

Financing Your Medical Degree at Texila American University in Guyana

In a significant move to enhance student accessibility, Texila American University (TAU) College of Medicine in Guyana has recently made a noteworthy expansion of its financial aid offerings. This initiative includes becoming an officially recognized partner school with Sallie Mae, which opens doors for numerous students across North America to pursue their Doctor of Medicine (MD) program. This strategic partnership aims to dismantle financial barriers that often hinder aspiring medical professionals from acquiring a world-class education.

What This Means for Students

With TAU now being a Sallie Mae-approved institution, eligible students can access private student loans specifically tailored to finance their medical studies. The Sallie Mae Medical School Loan program covers comprehensive educational expenses, including tuition, living expenses, books, and board preparation. Key benefits of this program include:

• - Up to 100% of education costs: Students can rely on substantial financial support to ensure they do not have to compromise their studies due to financial strain.
• - Grace periods: A 36-month grace period post-graduation offers students ample time to prepare for repayment.
• - Residency deferment: This option allows an extended 48-month deferment for students during their residency training.

Moreover, for students transitioning into their residency programs, Sallie Mae offers a separate Residency and Relocation Loan of up to $30,000, which helps cover expenses such as relocation and interview travel.

Support for Canadian Students

Texila recognizes the need to support its Canadian students as well, offering several funding routes:

• - Government aid: TAU is an approved institution for the Ontario Student Assistance Program (OSAP), allowing eligible Ontario residents to access loans and grants.
• - Federal and Provincial aid: Canadian students can apply for federal assistance through the Canada Student Financial Assistance Program. TAU aids in providing necessary documentation for other provincial assistance.
• - Private funding: Prominent Canadian banks, including RBC, Scotiabank, TD, and BMO, offer professional student lines of credit, enabling loans up to CAD 200,000 with interest-only payments during study periods.

Scholarships to Support Academic Excellence

In addition to loans, TAU boasts a competitive range of scholarships to reward academic merit and assist students from diverse backgrounds. Some prominent scholarships include:

• - Texila President Scholarship: This offers full tuition for Pre-Med students.
• - MCAT Scholarship: Financial rewards of up to $1,000 per semester for high achievers.
• - Global Citizen Grant: A 10-20% tuition discount for non-Caribbean students, among others.

This variety of scholarships affirms TAU's commitment to making medical education accessible to all motivated individuals. Eligible students can receive one scholarship at a time, with final decisions made by the admissions committee.

Conclusion: A Commitment to Accessibility

The overarching mission of Texila American University is to cultivate the next generation of medical professionals without allowing financial constraints to impede their ambitions. As TAU President Saju Bhaskar notes,