Get a loan with zero fees for your post-graduate medical residency and internship expenses.

Get a loan with zero fees for your post-graduate medical residency and internship expenses.

Discover Residency Loans

You're on your way to a successful career, and we're ready to help. With the Discover Residency Loan, you can cover the cost of your residency, internship, relocation and board exam review.

Great Features and Benefits

  • Fixed rates as low as 6.74% APR
  • Variable rates as low as
    Prime Index + 0.00%
    (currently 3.25% APR)
  • Zero fees
  • No payments required while in-school at least half-time or during your grace period, which ends 9 months after graduation
  • 0.25% Auto Debit Reward
  • View APR examples

Simple Process

  • Apply online or over the phone in just a few minutes.
  • Consider adding a cosigner.
  • Sign your loan documents online or mail them to us.
  • Accept your loan terms.
  • You're done!
or Call 1-800-STUDENT
The Annual Percentage Rate (APR) for a variable rate loan may increase during the life of the loan if the Prime Index increases. This may result in higher monthly payments, an increase in the number of scheduled payments or both. Print

Private Student Loan Features

How much can I borrow?

  • You can borrow up to $18,000 for Allopathy, Dentistry, Optometry, Osteopathy, Pharmacy, Podiatry and Veterinary Medicine.
  • You can borrow up to $5,000 for Nursing, Occupational Therapy, Physical Therapy and Physician Assistant.
  • The minimum amount is $1,000 for each loan.
  • We will send funds directly to you via check or direct deposit to your bank account.

What are the interest rates and fees?

  • Fixed interest rates from 6.74% APR to 10.99% APR
  • Variable interest rates from Prime Index + 0.00% to Prime Index + 5.00%
    (starting rates currently range from 3.25% APR to 8.25% APR)
  • Zero fees
View APR examples

Am I eligible?

To qualify, you must:
  • Have graduated within the past 12 months, or be enrolled at least half-time and making satisfactory academic progress in your final year of study in a graduate health professions program.
  • Be a US citizen, permanent resident or international student (International students require a Social Security number and a cosigner).
  • Be 16 years or older at the time you apply.
  • Pass a credit check.

Do I need a cosigner?

Whether or not you will need a cosigner depends on your credit evaluation. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.

Repayment Features

What is the Auto Debit Reward?

  • Get a 0.25% interest rate reduction with our Auto Debit Reward when you enroll for automatic debit payments during repayment.

Do I need to make payments while I am in school?

  • Payments are automatically deferred and no payments are due until 9 months after you graduate or your enrollment status drops below half-time.
  • You can make payments anytime to help reduce the overall cost of your loan and there is never a penalty for prepaying.
  • We will send you quarterly statements showing you how much interest is accruing and how to make optional payments during your in-school deferment period.
  • The repayment period is 20 years after the deferment period ends.

Can I defer payments?

In addition to automatic in-school deferment while you are enrolled in school at least half-time, you can defer payments while:
  • On active military duty (up to 3 years).
  • In public service with certain organizations (up to 3 years).
  • In a health professions residency program (up to 5 years).
Learn more

What if I need help repaying?

If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help. To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-877-321-5017.