Financial Aid
US Loan Programs
U.S. Student Loan Programs – Sallie Mae Partnership
Texila American University is now a Sallie Mae–approved institution, empowering eligible students to finance their medical education through private student loans.
Sallie Mae® Medical School Loan: Designed for Future Physicians
Sallie Mae’s Medical School Loan offers comprehensive financial support to help students in TAU’s Doctor of Medicine (MD) program cover the full cost of attendance. This includes:
Understanding Your Credit Profile
Your credit history matters. As a private loan, Sallie Mae loans are credit-based. This means:
- Your credit score, debt-to-income ratio, and credit history are evaluated to determine loan eligibility.
- Students without an established credit history or with poor credit may apply with a creditworthy cosigner, such as a parent or guardian, to improve their chances of approval and receive a better interest rate.
Tip: You can check your credit report for free annually at www.annualcreditreport.com and take steps to improve your credit by paying bills on time, reducing outstanding debt, and avoiding unnecessary credit inquiries.
Sensible Borrowing: Plan Wisely, Borrow Responsibly
Taking out a loan is a serious commitment. Sallie Mae encourages all borrowers to follow responsible borrowing practices, such as:
- Borrow only what you need: Review your school’s cost of attendance and seek advise.
- Create a budget: Plan ahead, estimate your expenses and avoid overborrowing.
- Understand your repayment plan: Familiarize yourself with grace periods, interest-only options, and total repayment timelines.
Flexible Repayment Options
Sallie Mae offers repayment flexibility that recognizes the unique trajectory of medical training:
| Repayment Feature | Description |
| 36-Month Grace Period | Begin repayment 3 years after graduation. |
| 48-Month Residency Deferment | Defer payments during qualified residency or fellowship. |
| Interest-Only Option | Make reduced payments while in school to reduce total interest. |
| No Origination Fees or Prepayment Penalties | Pay early without penalties and reduce long-term costs. |
| Auto-Debit Discount | 0.25% interest rate reduction with automatic payments. |
Loan Application Process
- Check Eligibility: U.S. citizen or permanent resident, enrolled full-time in TAU’s MD program.
- Apply Online: Visit salliemae.com/medical
- Choose Repayment Option: Select from deferred, interest-only, or fixed repayment during school.
- School Certification: TAU certifies the loan amount to Sallie Mae.
- Finalize and Sign: Accept loan terms and sign the Master Promissory Note.
Additional Financing - Residency & Relocation Loan
Sallie Mae also offers a Residency and Relocation Loan to help with:
- Travel expenses for interviews
- Board exam and licensing fees
- Relocation costs for residency programs
You may borrow up to $30,000 specifically for these purposes.
For questions and personalized assistance:
Sallie Mae Customer Service
Final Thought: Invest in Your Future,
Choosing to pursue medical education is an important decision. Make it a financially sound one by borrowing responsibly, protecting your credit, and using every resource TAU and Sallie Mae provide to support your success.
Your education is your future. Plan wisely. Borrow responsibly.
Canadian Loan Programs
Canadian Student Loan Options at Texila American University (TAU)
Texila American University is committed to making medical education accessible for Canadian students by supporting a variety of financial aid pathways, including government loans, private funding, and institutional support. Whether you reside in Ontario or another province, this guide outlines how you can finance your education at TAU.
Ontario Student Assistance Program (OSAP)
Texila American University College of Medicine (TAU COM) is now part of the Ontario Student Assistance Program (OSAP) list of approved schools.
Texila American University College of Medicine (TAU COM) is a part of the Ontario Student Assistance Program list of schools. As a result, Canadian students can now access financial aid through the OSAP to study at TAU. Students can get several financial aids through the OSAP – loans, grants, and bursaries. Learn more by contacting our admissions office.
Eligibility Requirements:
- Must be a Canadian citizen, permanent resident, or protected person
- Be a resident of Ontario
- Be enrolled full-time in the MD program at TAU
- Demonstrate financial need based on OSAP assessment
How to Apply:
- Visit ontario.ca/osap
- Select Texila American University as your institution
- Complete the online application and upload required documents
- Contact TAU’s admissions or financial aid office for supporting documentation if needed
Learn more about eligibility and receive step-by-step guidance by contacting our Admissions Office.
Canada Student Loans and Grants
In addition to provincial aid, all Canadian citizens and permanent residents may apply for federal financial aid through the Canada Student Financial Assistance Program (CSFA Program). This can be accessed via your province’s student loan portal.
Apply via: canada.ca/student-aid
Other Provincial and Territorial Student Aid Programs
Students from outside Ontario can apply for financial aid through their home province or territory. Most provinces integrate federal and provincial funding into one application process. Examples include:
- StudentAid BC (British Columbia)
- Alberta Student Aid
- Nova Scotia Student Assistance
- Student Financial Services NB (New Brunswick)
TAU will assist students with documentation to support eligibility for study-abroad funding if required by the province.
Private Student Lines of Credit (Canadian Banks)
Many Canadian banks offer student lines of credit tailored for professional programs like medicine. These are ideal for covering expenses not met by government loans or for students who do not qualify for public funding.
Common Features:
- Access to up to CAD $250,000
- Interest-only payments during studies
- Low interest rates (often Prime or Prime + 1%)
- Grace periods after graduation
Banks Offering Medical Student LOCs:
- RBC Royal Bank
- Scotiabank (Healthcare+ Line)
- TD Canada Trust
- BMO Bank of Montreal
Students should consult directly with their financial institutions for terms, eligibility, and co-signer requirements.
Application Checklist for Canadian Students
Step Action
Students should consult directly with their financial institutions for terms, eligibility, and co-signer requirements.
For more information contact
Whether through OSAP, federal grants, private lending, or university support, Canadian students have multiple pathways to finance their education at Texila American University. We are here to guide you every step of the way.
Other Loan Options for Students
In addition to international financial aid, Texila American University (TAU) offers students access to local educational loan programs through trusted financial institutions in Guyana. These options are designed to support tuition and related educational expenses for eligible students.
TAU - Demerara Bank Limited Education Loan
Texila American University has partnered with Demerara Bank Limited to provide financial assistance through education loans for eligible students enrolled in its programs.
Key Details:
- Available for students in all academic programs, including Medicine, Nursing, Public Health, Business, and more
- Applicants must submit:
- Proof of enrollment at TAU
- Program details and tuition fee breakdown
- Completed loan application and required documents as per the bank’s guidelines
Next Steps:
- Visit your nearest Demerara Bank branch to inquire about eligibility and application requirements
- Or contact the TAU Admissions Office to receive guidance and supporting documents
Unicomer Guyana Inc. – Educational Loan (BBA, MBA, MPH Only)
Texila American University has partnered with Unicomer Guyana Inc. to provide education loans specifically for Guyanese nationals enrolled in the following programs:
Bachelor of Business Administration (BBA)
Master of Business Administration (MBA)
Master of Public Health (MPH)
Eligibility:
- Must be a Guyanese citizen
- Must be accepted and enrolled in one of the eligible programs
- Proof of enrollment and program documentation must be submitted
How to Apply:
- Contact the TAU Admissions Office to initiate the loan support process and receive documentation
- Visit Unicomer Guyana Inc. to complete your loan application and discuss repayment terms
Note: Loan approvals are subject to each financial institution’s internal credit assessment and lending criteria. Students are encouraged to initiate the process early to avoid delays in enrollment.
Scholarship
The extensive range of scholarships at Texila American University (TAU) not only rewards academic excellence but also enables students from many backgrounds to study at an international university, ensuring equity in education. A number of full and partial scholarships have been designed to benefit eligible students. The scholarship programmes are highly competitive and students are encouraged to apply on time to be included for review. Applicants and accepted students are invited to apply for available scholarships posted on our official website.
Please Note: Scholarship are available only to first-year and incoming students, and not for transfer students. Scholarships are limited to certain numbers in each category
TAU - Global Citizen Grant
Limited scholarships are awarded to international students (Non-Caribbean and Guyanese), who have shown strong academic excellence. The grant covers 10% to 20% of the tuition of the MD program. These scholarships are generally limited in number and are giving on a first come first serve basis. Available number of scholarships are announced by the scholarship committee with specific requirements to qualify. Please contact the Enrollment Adviser for more information on the scholarships
TAU - CARICOM Scholarship
Under this programs TAUCOM offers 10% to 20% tuition scholarships to students from the CARICOM region. Satisfactory academic progress is required to maintain continuous scholarship.
TAU - Guyana Scholarship
Under this programs TAUCOM offers up to 50% tuition scholarships to students from Guyana. Satisfactory academic progress is required to maintain continuous scholarship. Please contact the enrollment advisor for more information on the scholarship.
First Lady Scholarship
Students of business and medicine programs can make use of the scholarship offered by the office of the First Lady of Guyana. Only Guyanese nationals will be able to receive this scholarship. You will have to submit a 250-word cover letter along with financial proof to the Office of the First Lady of Guyana.
Texila President Scholarship
Students who have performed exceptionally well in the CSEC examination, are eligible to apply for Texila American University’s Texila President Scholarship. It includes full-tuition fee for the university’s Pre-Med Program, which is part of TAU’s recognition of academic excellence.
US Military and Veteran Scholarship
This is a scholarship that is available to Veterans and the US Army during the MD program. Students may be eligible for up to $1,000 per semester during the 4 semesters of Basic Science and 4 semesters of Clinical Science (except the transition semester). Students interested in the scholarship should complete and submit the required documents. Applicants are expected to meet all the regular admission criteria to be eligible for the scholarship. Students are eligible for only one scholarship at a time and hence this scholarship cannot be combined with any other scholarship.
Required Additional Documents
- US Army – Application, Essay, ID Card- Active/Retired
- Veteran – Application, Essay ID Card
Medical Professional Scholarship
This is a scholarship that is available to medical professionals (Pharmacists, Nurses. PAs, Medical Assistants, paramedics, EMTs, etc.) during the MD program. Students may be eligible for up to $1,000 per semester during the 4 semesters of Basic Science and 4 semesters of Clinical Science (except the transition semester). Students interested in the scholarship should complete and submit the required documents. Applicants are expected to meet all the regular admission criteria to be eligible for the scholarship. Students are eligible for only one scholarship at a time and hence this scholarship cannot be combined with any other scholarship.
Required Additional Documents
- Transcript or qualification certificates
- Copies of Linces where applicable
MCAT Scholarship
This is a scholarship that is available to students who have an MCAT Score of more than 495 on all sections combined in the MCAT. Students may be eligible for up to $1,000 per semester during the 4 semesters of Basic Science and 4 semesters of Clinical Science (except the transition semester). Students interested in the scholarship should complete and submit the required documents. Applicants are expected to meet all the regular admission criteria to be eligible for the scholarship. Students are eligible for only one scholarship at a time and hence this scholarship cannot be combined with any other scholarship.
Required Additional Documents
- Official MCAT Score Report
To qualify for these awards during clinicals the following conditions have to be met.
- Minimum CGPA Requirement: A minimum Cumulative Grade Point Average (CGPA) of 3.50 is required for an award toward any clinical semester.
- NBME Core Shelf Exams: Students must achieve a minimum score of 75 on the first attempt of all National Board of Medical Examiners (NBME) Core Shelf exams to be eligible for an award toward semesters 7, 8, and 9.
- Good Academic Standing: Eligibility for an award toward any clinical semester requires students to be in good academic standing.
- USMLE Step 1 Score: An award for semester 6 requires a score of 240 or higher or PASS on the first attempt at the United States Medical Licensing Examination (USMLE) Step 1.
- USMLE Step 2 CK Score: For a semester 10 award, students must earn a score of 240 or higher on their first attempt at USMLE Step 2 CK.
Students’ academic records will be automatically reviewed upon receipt of each end-term exam, NBME, and USMLE Score. Any award granted will be applied directly to the tuition for the appropriate semester.
NOTE: Students who are already a part of ONE scholarship programme will not be eligible for another. The number of scholarships is limited and served on first come first served basis. The admissions committee is the final authority on award of scholarships.