10 Best Medical School Loans
Benefits like student loan forgiveness and income-driven repayment make federal student loans a better option than private student loans for medical school.
There are two main types of medical school loans: federal and private. In general, use federal student loans for medical school first because they have benefits private loans for medical school lack, including access to income-driven repayment plans and loan forgiveness programs.
The following lenders offer student loans specifically designed for medical students and other graduate-level health professionals. Compare specific lenders below and keep reading to learn more about the differences between federal and private student loans.
Why trust NerdWallet
- 19 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 40 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 19 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 40 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best Medical School Loans
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | Mid-600s | 2.74-15.99% | 3.89-15.99% | Read Review on NerdWallet | |
4.5 /5 | Mid-600's | 2.89-14.98% | 3.87-13.47% | Read Review on NerdWallet | |
Best for customer support and wide availability 5.0 /5 | Low-Mid 600s | 3.49-15.31% | 4.69-15.65% | Read Review on NerdWallet | |
5.0 /5 | Mid-600s | 3.18-14.83% | 4.39-15.86% | Read Review on NerdWallet | |
5.0 /5 | None | 6.39-7.94% | N/A | Read Review on NerdWallet |
Our pick for
Private loans for medical school
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $35,000 per year.
- Loan amounts: $1,000 up to the total cost of attendance.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- International students can qualify with a co-signer.
- You can defer payments up to an additional 48 months during fellowship after your grace period.
- You must be at least halfway through your repayment term before you can request a co-signer release.
- One of the few lenders to provide loans to part-time students.
- Non-U.S. citizens, including DACA students, can apply with a U.S. co-signer.
- You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
Rating and details displayed are for Sallie Mae's private student loan. You can postpone payments in residency for up to four years.
- Typical credit score of approved borrowers or co-signers: Not available.
- Minimum income: Not available.
- Loan amounts: up to $400,000.
- Among the best for payment flexibility.
- Grace period of 36 months is longer than many lenders offer.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Stands out for features that enable faster loan repayment.
Rating and details displayed are for Ascent's private student loan. Ascent's medical school loan lets you defer payments for up to 48 months after you finish school.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Multiple in-school repayment options available, including interest-only and flat-fee, and deferred for undergrad and grad students.
- Does not offer bi-weekly payments via autopay.
- Typical credit score of approved borrowers: 758.
- Minimum income: $35,000.
- Loan amounts: $1,000 up to your total cost of attendance.
- Option to skip one payment every 12 months.
- No late fees.
- Nine-month grace period is longer than most lenders offer.
- Loans aren't available in Nevada.
Our pick for
All borrowers as a first option
Start with federal direct unsubsidized loans if low-cost federal health professions student loans aren’t available for medical school.
- No credit check or minimum income is needed to borrow.
- Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
- Independent students and graduate students have higher loan limits.
- Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate
- More flexible repayment options for struggling borrowers than other lenders.
- Subsidized loans do not collect interest while in school or during deferment.
- Lower interest rates than many private lenders.
- You pay an origination fee.
Our pick for
Manageable payments post-graduation
Federal benefits like student loan forgiveness and income-driven repayment can make grad PLUS loans a better option than private student loans for medical school.
- 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.
- More flexible repayment options for struggling borrowers compared with private lenders.
- All borrowers who attend a school authorized to receive federal aid can qualify.
- May have higher interest rates compared with private lenders.
- You pay an origination fee.
- You can’t see if you’ll qualify without a hard credit check.
You can postpone payments in residency.
Our pick for
International medical students
International students without an eligible co-signer have fewer options to get a student loan for medical school.
- MPOWER considers future income potential but does not factor in credit scores.
- Loan amounts: Minimum $2,001. Maximum loan is $100,000, limited to $50,000 per academic period.
- Offers a hard-to-find option: non-co-signed student loans for international and DACA students.
- Borrowers are assigned a dedicated student loan advisor.
- Borrowers can request forbearance of up to 24 months, which is longer than many lenders offer.
- Payment required while in school.
- Offers only one repayment term: 10 years.
Want to compare more options? Here are our other top picks:
Federal loans for medical school
There are multiple types of federal loans for medical school. Consider them in this order:
Federal health professions student loans. These loans have interest subsidies and lower interest rates than other federal loans. But they're only available to borrowers who demonstrate financial need and attend participating schools. Ask your school about its application process to see if you qualify.
Federal direct unsubsidized loans. These loans aren't based on financial need, and medical students should max out these loans before PLUS loans because they have lower interest rates and fees. You can borrow up to $20,500 per year and $138,500 total, including any undergraduate loans.
Federal PLUS loans. Consider PLUS loans after you've exhausted other federal loans for medical school. PLUS loan interest rates are 8.94% for the 2025-26 school year, which may be close to the rate you'd get with a private loan. But PLUS loans come with a 4.228% fee that most private lenders don't charge.
To get federal loans for medical school, complete the Free Application for Federal Student Aid — this FAFSA guide can help. If your school participates in the health professions student loan program, you may need to fill out a different application.
There's no credit check for direct unsubsidized loans. There is a credit check for PLUS loans, but you don't necessarily need good credit to qualify — you just can't have adverse credit history or negative marks on your credit.
Private medical school loans
Private medical school loans can make sense if you have excellent credit and don't plan to pursue Public Service Loan Forgiveness. Unlike federal loans, which have the same fixed rates for all borrowers, private loans have lower rates for borrowers with good credit, and they typically don't have fees.
Before approving you, the lender will do a hard credit pull to check your credit history. The interest rate you get will depend on factors like your credit, the loan term and whether you choose a fixed or variable rate.
Many lenders — including Ascent, College Ave and Sallie Mae — offer private medical school loans with specific benefits for aspiring health professionals, like the ability to postpone or make reduced payments during residency. Weigh such features versus getting the lowest interest rate possible.
Medical school loans for international students
International students aren't eligible for federal student loans. But they may be able to qualify for a private medical school loan with an eligible co-signer.
If you're an international medical student without a credit history or co-signer, you'll have fewer options.
MPOWER lends to international students, but caps loan amounts at $50,000 annually, which may not be enough to cover med school.
Managing medical school loans
Going to medical school means taking on a lot of medical school loans. The average medical school debt among the class of 2023 was $206,924.
Explore tactics for paying off medical school debt before you borrow. Depending on your career goals and the type of loans you have, the best strategy may be refinancing medical school loans during or after your residency, seeking loan forgiveness for doctors or riding out an income-driven repayment plan.
Last updated on January 12, 2026
Frequently asked questions
How much can you borrow for medical school?
Medical students can get up to $20,500 per year and $138,500 total in unsubsidized federal student loans. You can borrow up to your cost of attendance in federal PLUS loans or private student loans.
What types of loans can medical students receive?
To pay for medical school, you may be able to receive federal health professions student loans (only at participating schools); federal unsubsidized and PLUS loans; and private student loans.
Can you get subsidized loans for medical school?
Medical students aren’t eligible for subsidized federal loans. But you may receive subsidized health professions student loans if your school participates in this program and you have financial need.
What is the best loan for medical school?
Federal student loans are typically your best bet for medical school because they offer benefits that private loans lack, like income-driven repayment plans and loan forgiveness programs.
How we chose the best student loans
Our team of student loan experts follows an objective and robust methodology to rate lenders and pick the best.
19
Lenders reviewed
19
Lenders reviewed
We reviewed 19 banks, credit unions, and online lenders — including the top 10 by market share and search volume — plus lenders serving niche and nontraditional borrowers.
40
Features assessed
40
Features assessed
Each lender is evaluated across five weighted categories, covering dozens of features related to affordability, eligibility, consumer experience, flexibility, and application process.
50+
Data points analyzed
50+
Data points analyzed
Our team tracks and reassesses more than 50 data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
5.0
Overall score
NerdWallet reviewed 19 banks, credit unions and online lenders offering student loans and student loan refinancing. We included the top 10 lenders by market share and the top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets. Some lenders are NerdWallet partners, but this did not influence our selection of the winner.
We consider 40 features and more than 50 data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to a wide range of borrowers in all states, extended grace periods and in-house customer service.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star. Read more about our ratings methodologies for student loans and our editorial guidelines.
NerdWallet's Best Medical School Loans
- College Ave Medical Student Loan: Best for Private loans for medical school, Fixed APR: 2.74-15.99%
- Sallie Mae Medical School Loan: Best for Private loans for medical school, Fixed APR: 2.89-14.98%
- Ascent Medical Student Loan: Best for Private loans for medical school, Fixed APR: 3.49-15.31%
- SoFi® Health Professionals Loan: Best for Private loans for medical school, Fixed APR: 3.18-14.83%
- Federal Subsidized/Unsubsidized Loan: Best for All borrowers as a first option, Fixed APR: 6.39-7.94%
- Federal Grad PLUS Loan: Best for Manageable payments post-graduation, Fixed APR: 8.94-8.94%
- Brazos Private Student Loan: Best for Borrowers from Texas, Fixed APR: 2.71-7.38%
- Earnest Medical School Loan: Best for Private loans for medical school, Fixed APR: 4.45-14.30%
- MPOWER Private Student Loan: Best for International medical students, Fixed APR: 12.99-15.99%
- ELFI Private Student Loan: Best for Private loans for medical school, Fixed APR: 2.99-14.22%