Frequently Asked Questions


We get a lot of questions about the financial aid process.

To assist you as you prepare to apply for our medical student loans, we have compiled a list of our most frequently asked questions.

Click on one of the questions below to learn more!

The individual TMA loan funds were originally established in 1952 by Dr. Sam E. Thompson and in 1966 by Dr. May Owen. Both of these generous physicians were leaders in the Texas Medical Association and recognized the necessity of helping medical students fulfill their educational pursuits. The terms and loan limits were established by those trust documents.
  • Students apply through their medical school’s financial aid office unless listed below.*
  • An in-person meeting with a TMA Interviewing Trustee is required.
  • Upon approval, an ACH payment will be sent to the borrower's bank account within approximately 3-4 weeks.

* Medical students at the following schools should contact TMA directly at for application instructions or can obtain the application online at the FORMS tab at the top of the page: Sam Houston State University College of Osteopathic Medicine, TX A&M College of Medicine, Texas Christian University School of Medicine, TX Tech Univ HSC, University of Houston Medical School, UNTHSC @ Fort Worth/TCOM, UT Austin Dell Medical School,UTHSC @ Houston-McGovern Medical School, UTRGV SOM, UT Rio Grande Valley School of Medicine, UT Southwestern @ Dallas HSC, and UT Tyler School of Medicine.

A student can borrow a combined total of $12,000 from the funds, but there are individual fund limits and not all funds are available at all schools.
Yes, an interest only payment is due while in school and until the fourth year after graduation. The loan begins monthly repayment of principal and interest the fourth year after graduation. Please refer to the promissory note.

Two ways to pay!  Mail your check -OR- login to set up ACH payments.

Remit payments via check to:
   TMA Student Loan Fund
   P.O. Box 143026
   Austin, TX 78714-3026 

Simply log into your loan account on this site and you will be able to access the ACH payment tool (separate registration required). Borrowers are able to schedule one-time and/or monthly recurring payments.


When a payment is made on a loan, the distribution of the payment is first applied to outstanding accrued interest and then to the principal balance. Any overpayments reduce the principal balance. Due dates are NOT advanced for overpayments.
If you are concerned about making your payments, please contact TMA immediately. It is important to work together to find a suitable solution before any problems arise! We can be reached at (800) 880-2828.
Repayment schedules and corresponding payment coupon books are designed on the assumption that all payments will be made on time. If you do this and pay the correct amount each month, you’ll pay your loan in full by the end of the repayment schedule. If you’re delinquent, excess interest will accrue. You might also have collection charges or late fees. Interest also accrues during a forbearance or deferment. So, if you pay the correct monthly payment amounts but have a delinquency during repayment, you’ll have an outstanding balance at the end of the repayment schedule. Similarly, if extra interest has accrued, your balance will go up. You’re responsible for paying that outstanding balance.

In order to receive a deferment, you must meet the following criteria:

  1. Be in good academic standing (if still enrolled in school) 
  2. Establish a legitimate reason for deferment 
  3. Payments must be current 
  4. Receive approval from the Educational Scholarship & Loan Committee and the Board of Trustees

Deferment requests are for one year only and interest continues to accrue during the deferment period. You must reapply for another deferment after the year has expired if you wish to continue. If you are interested, please complete the Deferment Application Forms.

The TMA loans are private. They are only eligible for private consolidation.

A student has a right to know:

  • What financial aid programs are available at TMA
  • The deadlines for submitting applications for each of the available financial aid programs
  • How financial aid is awarded, how decisions on awarding are made and the basis for these decisions
  • A student has the right to know the full amount of the loan, the interest rate, when repayment is to begin, amounts of debt, repayment procedures, deferment and consolidation availability, length of repayment, consequences of default, and has the ability to prepay the loan without penalty at any time

A student is responsible for:  

  • Completing all application forms accurately and submitting them on time
  • Providing correct information
  • Supplying all additional documentation and/or information as requested
  • Reading carefully all forms that require a signature and keeping copies of them
  • Accepting responsibility for all agreements signed
  • Signing promissory notes for student loans
  • Following the repayment schedule even if a billing statement or coupon booklet is not received
  • Notifying TMA of your correct address and telephone number at all times, during school and after graduation until all loans are repaid
  • Providing all requested forms to defer repayment of student loans