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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.

Get a variable interest rate

Variable interest rate:   
3.94% - 10.31% APR*


A variable interest rate can rise or fall as the market index changes, so your loan payments may vary over time.

Payment details

Principal and interest repayment

In school In grace In repayment No payments Principal & interest

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 lower, interest-only payments for the first two or four years. After that, you’ll make principal and interest payments for the rest of the loan’s repayment term.

* Interest is charged starting at disbursement, while in school and during the applicable grace period of either 36 months after graduation or nine months after withdrawal from school or attendance falling below half-time status. When you start paying principal and interest, any Unpaid Interest will be added to Current Principal, increasing your Total Loan Cost. Variable rates may increase over the life of the loan. Advertised APRs assume a $20,000 loan to a student enrolled in his/her final year of study at a participating school or who has graduated from one within the past 12 months with no other Sallie Mae loans.

Benefit from these Medical Residency and Relocation Loan features

Take control of your money; the loan is sent directly to you.

Lower your total student loan cost—get a 0.25 percentage point interest rate reduction when you enroll in and make scheduled monthly payments by auto debit.

Pay no origination fee or penalty for paying off your loan before its due date.

Borrow from $1,000 up to $20,000.

Track your credit health with quarterly FICO® Credit Scores available online for free to you and your cosigner.

Get the money you need

A cosigner can really pay off

Applying for a Medical Residency and Relocation Loan with a creditworthy cosigner may result in a lower interest rate.

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

The Smart Option Student Loan® for Graduate Students lets you choose the type of interest rate and repayment option that work best for you.

Learn about the Smart Option Student Loan for Graduate Students

Questions? Need help applying?

Call us at 877-279-7172

Borrow Responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

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

To participate in the Sallie Mae Residency and Relocation Loan program, veterinary medical schools are required to be accredited by the American Veterinary Medical Association, medical schools are required to be accredited by the Liaison Committee on Medical Education or the American Osteopathic Association’s Commission on Osteopathic College Accreditation, and podiatric schools are required to be accredited by the Council on Podiatric Medical Education.

You must be enrolled at least half time in your final year of study at a participating Medical (allopathic, osteopathic or veterinary medicine school) or Podiatric school located in the U.S., or have graduated from one within the past 12 months. You must have been awarded or expect to be awarded the M.D., D.O., D.V.M., V.M.D., or D.P.M. degree during the same academic program year that you are applying. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents who are attending or have attended participating schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

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.

Borrowers and cosigners may receive their FICO® Score quarterly after the first disbursement of their loan. FICO® Scores are delivered only to borrowers and cosigners who have an available score, are based on data from TransUnion, and may be different from other credit scores. This benefit may change or end in the future. FICO® is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

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.

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

Information advertised valid as of 3/27/2017.