Medical Resident Loans for Residency

Borrow up to $15,000 to cover expenses of your Medical School Residency program including relocation!

Resident Loan Program	Cumulative Loan Limit	Limits for each Academic Year
Medical Residency and Relocation Loans	$1,500 - $15,000	One time loan
Medicine	$1,500 - $225,000	Cost of Attendance Minus other Aid
Medical Boards	$1,500 - $15,000	One time loan
Osteopathic	$1,500 - $130,000	Cost of Attendance Minus other Aid

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 Medical Resident or in a residency program
• You must be a U.S. Citizen; or Permanent resident with a valid permanent-resident card; or an international student, applying with a U.S. citizen or permanent resident Co-Borrower; or have a U.S. citizen or permanent resident applying on your behalf.
• Be at least 18 years old, or the age of majority in your state;
• Be enrolled at least half time at an eligible institution;
• Meet our criteria for creditworthiness. If you do not meet our criteria, please consider applying with a creditworthy co-borrower.

What is my interest rate going to be?

In School Rates as low as

• LIBOR + 3.75% (Immediate Interest and Principal Repayment)
• LIBOR + 3.75% (Immediate Interest and Deferred Principal Repayment)
• LIBOR + 4.15% (Both Deferred Interest and Principal Repayment)

Repayment Rates as low as

• LIBOR + 4.30% (Immediate Interest and Principal Repayment)
• LIBOR + 4.40% (Immediate Interest and Deferred Principal Repayment)
• LIBOR + 4.50% (Both Deferred Interest and Principal Repayment)

Choose your reward!

• .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 Alternative 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
• Fees as low as 0%
• 20 year repayment for Medical School loan, 15 years for all others

Annual Percentage Rate (APR) and Repayment Example:

If you borrowed $10,000 in a single installment, the 3 month LIBOR remained constant at 3.42% and you had a 24-month combined in-school and 6 month grace period with a 180-month repayment period, your possible APR and repayment schedules are shown below. Your annual percentage rate may increase or decrease after consummation.

Repayment Option	Origination Fee	APR	In School & Grace Period	Repayment Period
Immediate Interest and Principal Repayment	0%	6.24%	30 payments of $84.39	150 payments of $86.13
Immediate Interest and Deferred Principal Repayment	0%	6.26%	30 payments of $50.00	180 payments of $86.43
Both Deferred Interest and Principal Repayment	3%	6.60%	30 payments of $0.00	180 payments of $103.40

Graduate Loan Applications for Medical School
877-328-1565