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As a leading education financial services company, we currently offer numerous loan options for medical students. Loan consolidation allows you to stretch your repayment period which depends on the amount of your education debts. We offer both private as well as
federal loans to medical students. To know more about our latest consolidation programs and eligibility requirements, contact us at (800) 503-1146.
Private Loans
For the currently enrolled MEDICAL students, we offer a comprehensive Tuition Loan, wherein you can receive between $3,000 and $50,000 per year. The only requirement is U.S. citizenship or permanent residency attending a Title IV or otherwise approved institution.
The interest rate on our Tuition Loan is set at the prime rate (currently 7.75%), adjusted monthly, plus a margin depending on your credit history. The origination fee on the loan depends on your loan amount and credit evaluation.
Repayment can be deferred for up to 7 years after the loan is disbursed or 6 months following graduation or the time you leave school, whichever comes first. Repayment terms of up to 20 years are available.
When to apply?
You can apply anytime, even after a semester has started. We can pre-approve you over the phone in as few as 3 minutes. Your Tuition Loan will be disbursed directly to you by check two business days after you submit your signed promissory note, proof of enrollment, and supporting documentation.
Applying for a Tuition Loan is as easy!
Call us at (800) 503-1146 to speak directly with a financial advisor about eligibility requirements for our private loans.
If you're ready to start an application, click here to go to our Registration Form.
Federal Loans
Apart from private loans, EdFed also offers federally guaranteed Stafford and PLUS loans.
Stafford Loans
Available to: undergraduate, graduate, and professional students.
Low-interest federal loans.
Subsidized Federal Loan, wherein, the government pays the interest while you are in school and during grace and approved deferment periods.
Unsubsidized Federal Loan, wherein, you pay all the interest and payments can be deferred until after you leave school.
PLUS Loans for undergraduates
Available to: any parent with an eligible undergraduate student.
Low interest rate of 6.10%.
Parent Loan for Undergraduate Students-part of the Federal Family Education Loan Program (FFELP).
Plus loan for graduates-beginning July 1, 2006
Available to independent graduate students; although eligibility is credit-based, a parent's application is not required.
PLUS loan allows the borrower to fund up to 100% of the cost of education less any financial aid already awarded. It is a cost-effective alternative to using savings, income, retirement accounts, or home equity loans for education costs.
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