Medical Resident Loans for Residency

Very often scholarships and Federal Stafford loans are not enough to cover the true cost of medical school. The GradLoans.com private Medical School Loan was designed with this in mind.

You can use a Medical school loan to cover any education related expenses, including, computers, books transportation, and room and board.

Apply Online for a Medical School Loan

Why is the GradLoans Resident Loan for the Residency so unique?

Fast online approvals
Low interest rates and fees
High approval rating
High annual maximums
A variety of repayment options (immediate, interest only, or full deferment until you leave school)
No application fee or out-of-pocket expenses
You can use this loan to cover any education related expenses, including transportation, computers, books and room and board
24/7 online account status access

How do I qualify for a Residency Loan?

You must be a U.S. citizen or a permanent resident, and be enrolled at least half-time in a 4 or 5 year degree program. Additionally, you must have a cosigner for your loan application, and you and your cosigner must both pass a credit check.

What is my interest rate going to be?

The Interest rate is a combination of the Prime rate plus a margin. The rate ranges from Prime minus 0.50% to Prime plus 4.75%. The rate will fluctuate as the Prime rate changes every three months.

The Prime rate is a "reference or base rate" that banks use to set the price or interest rate on many of their commercial loans and some of their consumer loan products. The prime rate tracks fairly closely with other short-term interest rates, such as the overnight federal funds rate

.25% interest rate reduction if you choose to have your loan payment automatically deducted from your bank account or if you make 48 consecutive on-time payments

What else sets the GradLoans Private Student Loan for Medical Residents apart from the rest?

Low minimum monthly payment of $50
Full deferment and forbearance options available while in school, working towards a residency or internship, unemployed or experiencing an economic hardship, serving in the military or needing an administrative forbearance
6 month grace period before repayment begins
15 year repayment for a Medical School loan