Medical residency and relocation loan

Get the money you need to help pay for your medical, podiatry, or veterinary residency.

Apply now

Fixed rates

6.40%

to 11.89% APR^{footnote 1}

What are fixed rates?

Fixed means your interest rate never changes.

If you want a predictable monthly payment, this is the way to go.

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Variable rates

7.00%

to 12.45% APR^{footnote 1}

What are variable rates?

Variable rates go up or down as the market changes.

This means your monthly payments may also change—they might be higher if rates rise and lower if they fall.

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Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.

Medical residency and relocation student loan benefits

Borrow up to $30,000

Cover board examination fees, travel, and moving expenses.

No origination fees

There’s no fee to process a loan or if you pay it off early.^{footnote 2}

Save money

Get a 0.25 percentage point discount with auto debit.^{footnote 3}

Breaking down your payments

Deferred repayment

You won’t have to make payments while you’re enrolled at least half-time and during your grace period (3 years after you graduate or 9 months if you leave school or drop to less than half-time status).^{footnote 1} Want to help lower your total loan cost? If you can, make payments while you’re in school and grace.

Get budget flexibility

You can request to make lower, interest-only payments for the first 2 or 4 years of repayment.^{footnote 4} After that, you'll make full principal and interest payments.

Quick and easy

Apply in
minutes

1. Tell us some basics

2. Choose 1 or 2 disbursements

3. Pick a date to get the money

Apply now

Need money for medical school?

Our medical school loan can help cover your costs.

FAQs

Have other questions? We’re here to help.
1-877-279-7172

How do I qualify for a medical residency and relocation loan?

This loan is available to students enrolled at least half-time in their final year of study at a participating institution or who have graduated from one in the last 12 months. Students must have been awarded, or expect to be awarded, their degree during the same academic year they apply.

Can international medical graduates apply for residency and relocation loans?

Students who are not U.S. citizens or permanent residents must reside in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID to verify their identity.

Can I use the loan for board exams, licensing fees, and other professional expenses?

Residency and relocation loans help cover expenses associated with taking board examinations, traveling for interviews, and moving for residency. This can include airline travel, relocation costs, gas, hotels, dry cleaning, airport food, etc.

Can I apply for a loan if I already have existing student loan debt?

Yes, you can apply for additional loans for residency interviewing and relocation costs if you have existing student loan debt. These loans do not require proof of financial eligibility. They are credit-based, meaning the higher your credit score, the lower your rate.

What documents do I need to apply for a medical residency and relocation loan?

To apply for a medical residency and relocation loan, you’ll need to provide proof of residency or internship, such as a match letter.

Can I use a graduate school loan to pay for any college-related expenses?

The Medical Residency and Relocation Loan can be used for your medical, dental, veterinary, or podiatry residency. There are loan options available for different medical specialties, including the Medical School Loan, Dental School Loan, Health Professions Graduate Loan, Dental Residency and Relocation Loan, and nursing school loans.

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

footnote Residency Loans are intended to cover expenses not included in your school's cost of attendance.

footnote To participate in the Residency and Relocation Loan program, 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. Podiatric schools are required to be accredited by the Council on Podiatric Medical Education. Veterinary medical schools are required to be accredited by the American Veterinary Medical Association.

footnote Residency and Relocation Loans are for students who are pursuing or have received a M.D., D.O., D.D.S., D.M.D., D.P.M., D.V.M., or V.M.D. degree. Students must be enrolled at least half-time in their final year of study at a participating allopathic, osteopathic, podiatric, dental, or veterinary medicine school or have graduated from one within the past 12 months. This loan is subject to credit approval, identity verification, and signed loan documents. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., graduate from, or attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote 1. Advertised APRs for Residency and Relocation Loans assume a $30,000 loan disbursed at the time of student's graduation from school. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when the funds are sent to you. For those who graduate, the grace period is 36 months. For those who withdrawal or whose attendance falls below half-time status, the grace period is 9 months. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

footnote 2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

footnote 3. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

footnote 4. Must request interest payments in writing. Choosing this option does not extend the loan term but does increase the Total Loan Cost and the monthly payment amount following the interest-only period.

footnote Sallie Mae loans are made by Sallie Mae Bank.

footnote Information advertised valid as of 3/25/2025.

footnote SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.