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Dental Residency and Relocation Loan

Cover residency & relocation expenses

With the Residency and Relocation Loan® from Sallie Mae®, you can finance the costs associated with finding a dental residency, including travel to interviews and relocation costs, which may not be covered by federal student loan programs. You can also use the loan to cover board examination expenses.

Defer payments until after school

  • The Residency and Relocation Loan gives you the flexibility to defer payments while you are enrolled at least half time and for three years after graduating school.

Lower your interest rate

  • When you enter repayment, you can lower your interest rate by 0.25 percentage points while enrolled to make your scheduled monthly payments by automatic debit.

Cover the cost of finding a residency

  • You can borrow as little as $1,000 or as much as $20,000.

Be in control of your funds

  • All disbursements are made directly to you.

Enjoy total convenience

  • 24/7 online account management.
  • Easy online application—about 15 minutes is all you need.

Interest rates

  • Rates are variable, and range from % APR to % APR.
  • Get a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.

Loan limits

  • Students can borrow from $1,000 up to $20,000.

Fees

  • No origination fee.
  • No repayment fee.

Repayment terms

  • No payments required while you're in school.1
  • No prepayment penalty.
  • Repayment begins three years after graduation or nine months after leaving school or dropping to less than half-time status.1
    • Request to make monthly interest payments for the first two or four years, followed by principal and interest payments for the remainder of the term, or make monthly principal and interest payments for the full repayment term.

Eligibility

  • You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower who is attending or has attended a school located in the U.S. applying with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation.
  • You must be enrolled at least half time in your final year of study at a dental school or have graduated from one within the past 12 months.
  • You must have been awarded or expect to be awarded the D.D.S. or D.M.D. degree during the same academic program year that you are applying for the Residency and Relocation Loan.
  • You must meet current credit and other eligibility criteria.
  • Applications are subject to a requested minimum loan amount of $1,000.

 

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A cosigner can really pay off

Cosigner benefits
Applying with a creditworthy cosigner may result in a lower interest rate.

Cosigner release available
You may apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments and meet certain credit requirements.

Learn more


 
 

Encouraging Responsible Borrowing

Sallie Mae has helped more than 34 million Americans pay for college since 1972. We encourage students and families to supplement their savings by exploring grants, scholarships, and federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

To participate in the Sallie Mae Residency and Relocation Loan program, dental schools are required to be accredited by the American Dental Association.

You must be enrolled at least half time in your final year of study at a dental school or have graduated from one within the past 12 months. You must have been awarded or expect to be awarded the D.D.S. or D.M.D. degree during the same academic program year that you are applying for the Residency and Relocation Loan. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower who is attending or has attended a school located in the U.S. applying with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Variable rates may increase after consummation. Interest is charged while you are in school and during the applicable grace period of either 36 months after graduation or 9 months after withdrawal from school or attendance falling below half-time status. Unpaid Interest will be added to the Current Principal when you enter principal and interest repayment.

2 Either the borrower or cosigner (not both) must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due is successfully deducted from the designated bank account each month and is suspended during forbearances and certain deferments.

3 Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.

Sallie Mae Residency and Relocation Loans are intended to cover expenses not included in your school's cost of attendance.

Residency and Relocation Loans are made by Sallie Mae Bank or a lender partner.

Information advertised valid as of .

WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.