Medical School Loans: 5 Federal and Private Options

Qualifications

• Grad PLUS loan borrowers must not have adverse credit history.
• Borrowers with adverse credit history can still receive a Grad PLUS loan by enlisting a co-signer without adverse credit history or documenting extenuating circumstances for their credit history.
• Loan amounts: Total cost of attendance minus other financial aid.

Available Term Lengths

• 10 to 25 years once repayment begins, depending on the repayment plan.

Qualifications

• Typical credit score of approved borrowers or co-signers: 748.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 up to 100% of the school-certified expenses.

Available Term Lengths

• 5 to 15 years

Disclaimer: 1 Lowest rates shown include the auto debit discount. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs are valid as of 05/28/2019 and assume a $10,000 loan to a freshman with no other Sallie Mae loans. Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. This benefit may be suspended during periods of forbearance or deferment, if available for the loan. 2 Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. 3 This repayment example is based on a typical Smart Option Student Loan made to a freshman borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.88% fixed APR. It works out to 51 payments of $25.00, 119 payments of $162.06 and one payment of $120.23, for a Total Loan Cost of $20,680.37.

Qualifications

• Typical credit score of approved borrowers: Did not disclose.
• Minimum income: No minimum.
• Loan amounts: $1,000 to $120,000

Available Term Lengths

• 15 years

Qualifications

• Typical credit score of approved borrowers: 690 or higher.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 to $150,000.

Available Term Lengths

• 5, 10 or 15 years

Disclaimer: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of July 1, 2019, the one-month LIBOR rate is 2.40%. Variable interest rates range from 3.89%-11.76% (3.89%-11.61% APR)  and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 4.90%-12.19% (4.90% - 12.04% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens One is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.

Qualifications

• Typical credit score of approved borrowers: 786 for approved co-signers.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 to $40,000.

Available Term Lengths

• 15 years