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When you have expenses that may not be covered by federal student loans, get the money you need to help pay for your medical, podiatry, or veterinary residency.
Select a variable or fixed interest rate
Your variable interest rate can rise or fall as the market index changes, so your Medical Residency and Relocation Loan payments may vary over time.
Get predictable monthly payments with a rate that doesn’t change over time.
You may pay more for your total loan cost because a fixed interest rate is usually higher than a starting variable interest rate.
Defer your principal and interest payments while you’re enrolled at least half-time and during your grace period (three years after you graduate or nine months if you leave school or drop to less than half-time status).
While you’re in school and in grace, you can still make payments to help lower the total loan cost.
Get budget flexibility
You can request to make lower, interest-only payments for the first two or four years of the repayment period. After that, you’ll make principal and interest payments for the rest of the loan’s repayment term.
Benefit from these Medical Residency and Relocation Loan features
Borrow up to $30,000; the money is sent directly to you.
Lower your total loan cost—get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.
Pay no origination fee or penalty for paying off your loan before its due date.
Track your credit health with quarterly FICO® Credit Scores, available online for free to you and your cosigner.
Get the money you need
Consider adding a cosigner
7 out of 10 Residency and Relocation Loan applicants who apply without a cosigner are approved, however, consider adding a cosigner if you think you might need help getting approved.
Consider a cosigner
You can apply for cosigner release
You can apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments, and meet certain credit requirements.
Find out about cosigner release
If you need money for medical school
A Sallie Mae® Medical School Loan can help you get the money you need to continue your education. Choose a fixed or variable rate type and a repayment option that works best for you.
Learn about the Medical School Loan
Applying is easy
Provide some basic info
Give some details about yourself and your school.
Choose the number of disbursements
During the application process you can decide whether you want to receive funds in one disbursement or two.
Choose a delivery date for your funds
You can decide which date in the future you would like us to send you the funds.
Questions? Need help applying?
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