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   Medical Student LoansChoosing the Best Loans for Medical SchoolIf you’re heading into medical school or are approaching graduation to receive a medical degree, you’ll need to know more than just learning about board exams and residency, you’ll have to deal with paying off the medical student loans you borrow. And, if you’ve made it to this site, you’ll likely join the 72% of graduates who have graduated medical school with debt of at least $100,000. And with the average of an 8.5% annual increase, the cost of graduating medical school continue to rise. Don’t worry. Over, nearly 87% of graduating medical students carry outstanding loans. Choosing the right student loan program mix and creating flexibility for your future may feel complex, but it isn’t. In fact, Medical Student Aid makes it simple and easy to understand and apply for federal loans, loan consolidation, and private loans for students and graduates in the medical field. Before GraduationFinancial Aid- If you’ve graduated with an undergraduates degree you’ve likely maximized any financial aid that you may have received. But when financial aid and scholarships don’t add up, three types of student loans should be considered for medical students: Federal Stafford Loan- The Stafford loan for medical students in a graduate program is the first thing you’ll want to consider if you haven’t reached your limitations. With cash back incentives and four repayment plans to choose from, rates start as 6.8% and requires no credit checks. Applying for a Stafford loan is simple with Medical Student Aid. Its easy e-signature tool allows for quick approvals and disbursements. Learn More
PLUS loans for Graduates-
Similar to the PLUS student loan to parents, the Graduate Plus program
is a student loan offering graduates the direct benefit instead,
those with an independent status. With several repayment options
and consolidation eligibility too, this federal student loan is
available to graduate students no matter what your income level
may be and it completely pays for all your graduate school needs,
including tuition, books, and more. Student Aid Centers make the
Easy Graduate Plus loan simple to apply and online approvals status
quick and easy. Rates on the Graduate Plus student Loan are available
as low as 8.50% and offers generous rebates and easy principal reduction
plans.
Private Loans- With increasingly popularity, private loans for medical students can cover all the other areas where federal programs may be capped. Cover tuition, room, books and supplies, and, of course whatever is needed for tuition that still may be left after you’ve tapped into your federal loan options. With eligibility requirement for federal programs and the determination of need decided by your school administrator, private loans for medical students are available as low as 7.6%. Typical repayment terms are available up to 25 years for medical students, with borrowing limits as much as $70,000 per year. And with additional principal reductions for on-time payments and automatic withdrawals (ACH), you may find the funds you need with the flexible terms to go with it! Learn More
After GraduationAfter you graduate medical school or if you’ve just graduated with your undergraduate degree, you’ll want to consider consolidating your student loans for greater flexibility and lower monthly payments while you work to advance your career more comfortably. The greatest thing about consolidating student loans is that it’s fast and easy. Federal Student Loan ConsolidationWith fast approvals in just minutes, no credit checks, no application fees or out-of-pocket costs and terms up to 30 years, and no pre-payment penalties, federal student loan consolidation with Student Aid Centers and Medical Student Aid can be as low as 4.5% fixed for the life of your loan. Learn More
Private Student Loan ConsolidationIf you’ve taken out any private loans, through a lender or a bank, you’ll want to consider consolidation of your loans. This process requires a credit check, but is also simple to apply for, has 30 year terms available, no pre-payment penalties and a rate starting at 6.33%. Rates are subject to change, so be sure to ask our medical school loan counselors about your options, benefits and pricing schedule to better understand your loan choice. Learn More
Related TermsMedical Student Loan
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