MEDICAL RESIDENTS AND FELLOWS LOAN REFINANCING RATES & TERMS

The payment examples below assume the APR, monthly payment and total payments that would apply to a $100,000 private loan that is made at the end of the residency period in a single disbursement. There are no application or origination fees, and no prepayment penalties.

Your actual interest rate may be different than the medical resident loan interest rates in these examples and will be based on term of loan, your financial history, and any other factors. State restrictions may apply. The minimum monthly payment of $1 while in residency period, may not pay all of the interest due each month, which will likely result in negative amortization during the residency period.

If you choose to make $1 per month payments, all unpaid principal and interest amounts are accrued and capitalized at the end of your training period, and borrowers will pay more over the life of the loan with the $1 per month repayment option than if a different repayment option is selected. The minimum monthly payment of $1 while in residency period, may not pay all of the interest due each month, which will likely result in negative amortization during the residency period.

FIXED RATE

Loan Term (includes training) Origination Fee Fixed Rate APR No. of Payments Monthly Payment in Training Monthly Payment Total Payments
5 years None 3.25% - 5.19% 60 $1 $1,808.00 - $1,895.84 $108,408.01 - $113,750.43
7 years None 3.99% - 5.29% 84 $1 $1,366.42 - $1,427.06 $114,779.31 - $119,872.84
10 years None 4.49% - 5.39% 120 $1 $1,035.90 - $1,079.82 $124,308.25 - $129,578.44
15 years None 5.09% - 5.64% 180 $1 $795.49 - $824.53 $143,188.17 - $148,415.67
20 years None 5.49% - 6.69% 240 $1 $687.37 - $756.80 $164,957.43 - $181,632.24
Residents or Fellows who request a reduced payment period before entering full repayment will receive an interest rate based on the entire term of their loan, including the reduced payment period. For example, if someone applies for a 5 year loan, with a 3 year reduced payment period, they will receive a rate offer within the 10 year range above.

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