International

Comparing student loan options

Loans for international medical students

Federal student loans Private student loans
Stafford Loan Grad PLUS loan Private Loan Residency & Relocation Loan 
Interest rate
6.8% 8.5%

Many lenders who work with Sallie Mae offer interest rate reductions that may reduce your interest rate to as low as 7.75%.		 Variable, depending on credit Variable depending on credit
Origination fees
For loans first disbursed July 1, 2007–June 30, 2008: Up to 2.5% in fees that includes a 1.5% federal origination fee and a 1% federal default fee. For loans first disbursed July 1, 2008–June 30, 2009: Up to 2% fees that includes a 1% federal origination fee and 1% federal default fee. There are lenders and guarantors that work with Sallie Mae that pay all or a portion of these fees. There is a 3% origination fee charged by the federal government. Up to a 1% guarantee fee is also charged. Many Sallie Mae lenders and guarantors who work with these lenders pay all or a portion of the guarantee fee. Usually 0% fees. A fee may be assessed depending on credit history. Usually 0% fees. A fee may be assessed depending on credit history.
Annual loan limits
$20,500 Borrow up to the full cost of your education, less other aid received Aggregate limit: $250,000 Aggregate maximum: $15,000
Repayment
Flexible repayment options with terms of up to 10–25 years and a variety of repayment options Repayment begins within 60 days after the final disbursement of the loan. Borrowers who are certified by their school to be attending at least half time will be placed into in-school deferment. No payments are required during in-school deferment. Payments begin after in-school deferment ends. Standard 15-year repayment term; other repayment options, available including extended terms Flexible repayment options with terms of up to 20 years; standard and graduated repayment options available

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