Loan Details

Types of Loans

 

Standard Loan: Principal + Interest

A Standard Principal and Interest loan would have a fixed payment for each month of the term. A portion of each payment lowers the outstanding principal balance.

Hybrid Loan: Interest Only and Principal + Interest (In-Training Only)

First half of loan term will be low interest-only payments; the second half will be principal and interest. These loans have a much lower monthly payment during the interest-only portion and can be easier to manage upfront on a tight budget.

 

In-Practice Program

Borrower Eligibility*:

  • U.S.-based in-practice physicians and dentists with MD, DO, or DDS degree.
  • Must be a U.S Citizen, a permanent resident, or hold a valid O1 or H1B visa.
  • Must reside in the District of Columbia or one of the 48 states we lend in (all but Iowa and West Virginia).
Loan SpecificsStandard
Interest Rate Ranges5.99% - 14.99%
APR Ranges6.83% - 15.91%
Repayment Terms5 years
Loan Amounts$5,000 - $75,000**
Loan TypePersonal
Origination Fee2%
Minimum Monthly Payment$75***
ACH Discount0.25%
Type of RateFixed

In-Training Program

Borrower Eligibility*:

  • U.S.-based in-training (resident/fellow) physicians and dentists with MD, DO, or DDS degree.
  • 4th year U.S. medical and dental students who have successfully matched into a residency program.
  • Must be a U.S Citizen, a permanent resident, or hold a valid O1 or H1B visa.
  • Must reside in the District of Columbia or one of the 48 states we lend in (all but Iowa and West Virginia).
Loan SpecificsStandard/Hybrid
Interest Rate Ranges5.99% – 14.99%
APR Ranges6.83% – 15.91%
Repayment Terms5 Years
Loan Amounts$5,000 - $25,000
Loan TypePersonal
Origination Fee2%
Minimum Monthly Payment$75***
ACH Discount0.25%
Type of RateFixed

O1 and H1B visa holders are eligible for Standard repayment only.

J-1 Visa Program

Borrower Eligibility*:

  • Must hold a valid J-1 Visa.
  • In-practice physicians and dentists with MD, DO, or DDS degree. Must have a valid J-1 Visa Waiver.
  • In-training physicians and dentists with MD, DO, or DDS degree. Must have at least 3 years left in training.
  • Must reside in the District of Columbia or one of the 48 states we lend in (all but Iowa and West Virginia).
Loan SpecificsPrincipal
Interest Rate Ranges9.99 – 17.99%
APR Ranges10.87 – 18.94%
Repayment Terms3 years
Loan AmountsIn-Practice: $5,000-$30,000**
In-Training: $5,000-$15,000**
Loan TypePersonal
Origination Fee2%
Minimum Monthly Payment$75***
ACH Discount0.25%
Type of RateFixed

* Eligibility criteria list is not exhaustive and is subject to change without notice.

** The minimum loan amount in MA is $7000.

*** Minimum Monthly Payment applies to Standard Principal and Interest Loans and Hybrid Loans.

Rates, terms and product availability are subject to change.