We are happy to announce our new Edmed Loan Program. The program is designed specifically for select, high quality, non U.S. based medical schools and the students who attend them and Caribbean Medical University is proud to be one of them.We will continue to deliver innovative products and services that have been designed in partnership with our financial partners and student clients in order to meet their specific needs and to deliver a level of service excellence that separates us from every other provider of medical education loan programs.

Program Details

  • Funds can be disbursed up to 60 days prior to the beginning of the loan period
  • Annual loan amounts available from $10,000 up to $60,000 based on cost of education and CMU certification of the loan
  • Maximum aggregate limit of $250,000 for all student loan indebtedness
  • Interest is calculated on a variable rate equal to the 3 month LIBOR plus 6.95%
  • Interest is capitalized at the beginning of repayment and at the end of any forbearance period
  • An Origination Fee of 2.75% will be charged to the borrower and added to the loan balance
  • Payments may be deferred during the in-school period with repayment beginning 6 months after graduation or if the student is attending less than half time
  • Up to 20 year repayment term with no prepayment penalties

Rates and payment example:Original Loan Amount: $50,000
Origination Fee: 2.75%
Interest Rate: 7.61%
Repayment Term: 20 years

Results:
Annual Percentage Rate (APR): 7.47%
Estimated Monthly Payment: $560.25