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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

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!
  • 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.
  • Variable interest rates as low as 3-Month LIBOR + 3.74% to 3-Month LIBOR + 7.24% (starting rates currently range from 4.12% APR to 7.62% APR)
  • Fixed rates ranging from 6.49% APR to 9.99% APR
  • Zero fees
View APR examples
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 cosigner who is a US Citizen or permanent resident)
  • Be 16 years or older at the time you apply.
  • Pass a credit check.
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.
All loans get a 0.25% interest rate reduction with our Auto Debit Reward when you enroll for automatic debit payments during repayment.
  • The repayment period is 20 years after the deferment period ends.
  • You can elect, during the application process, to make $25 fixed, monthly payments while you are in-school and during your grace period to lower your overall loan cost.
  • You can choose to have your payments deferred, which means no payments are due until 9 months after you graduate or your enrollment 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. If you're not receiving monthly billing statements, we will send you quarterly statements showing you how much interest is accruing and how to make optional payments while you are in school.
In addition to optional 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
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 .

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