$5,000 to $15,000
Costs incurred during the search for medical residency programs such as flights, hotels and other travel related expenses associated with transitioning to residency. This loan is only available for 4th year medical students.
Laurel Road offers a reduced payment option of $25.00 a month through the end of school and during training. The total period of reduced payments cannot exceed 60 months and cannot be less than 48 months. During the Reduced Payment period, interest on the loan will continue to accrue. Unpaid accrued interest will be capitalized (added to the unpaid principal balance of the loan) at the end of any authorized Reduced Payment period. The maximum loan term is 7-year total term, it can be less than 7 years total but it cannot exceed 84 months combined.