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AMA Resident Offers

Bank on your earning potential.

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Laurel Road offers financial solutions for today's healthcare leaders with products tailored specifically for medical residents.

As a part of the American Medical Association (AMA) you're eligible to receive special offers on Laurel Road products by applying through this page.

If you refinance a federal student loan with Laurel Road, you will no longer qualify for existing or future benefits offered by the federal government to federal student loan holders. Please consult www.studentaid.gov for the most current information about any federal student loan benefits.

Why Laurel Road for Doctors?

Doctors Have Bright Futures. We Think That's Worth Investing In.

Easy Online Solutions


Digital banking designed to help you save time and money.

Smart, Secure Technology


The trusted technology of a leading national bank.

Award-winning Experience


Our customers love us—we've funded over $9 Billion in loans.

Student Loan Refinancing
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Student Loan Refinancing

AMA residents pay only $100 per month throughout training.1

Plus, AMA members get a 0.25% rate discount.2 Discover your personalized rate options online in only a few minutes—with no impact to your credit score!3

Check My Rates

IMPORTANT INFORMATION: The U.S. Department of Education recently announced a student loan debt relief plan which includes forgiveness of up to $10,000 for qualifying federal student loans and up to $20,000 for qualifying Pell Grant recipients. For more information, please read the announcement. Please note that if you refinance qualifying federal student loans with Laurel Road, you may no longer be eligible for certain benefits or programs and waive your right to future benefits or programs offered on those loans. Please carefully consider your options when refinancing federal student loans and consult StudentAid.gov for the most current information.

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Laurel Road Linked Checking℠

Lower your refi rate when you add a new checking account.

For a limited time, get a $300 cash bonus with $2,500 in direct deposits.4 When you open a Laurel Road Checking account during your student loan refinancing, you’ll qualify for an introductory 0.25% off your interest rate for the first 3 months. After that, your interest rate discount will vary based on your total monthly direct deposit amount – you could lower your student loan refinancing rate by up to 0.55%.5

Apply Now

Why Refinance Student Loans with Laurel Road?

Low fixed and variable rates available when refinancing student loans

Up to 12 months of forbearance is available6

We don't charge any application or origination fees or prepayment penalties

Additional 0.25% discount when automatic monthly payments are made from a bank account7

Credit Card
laurel road student loan cashback credit card

Student Loan Cashback® Card

AMA Members get a $100 cash bonus after activating.8

Introducing the first card that lets you redeem 2% cashback toward your student loans with any eligible servicer.9 You can earn $300 in introductory cashback rewards towards any eligible student loan after you spend $5,000 in the first 90 days with your Laurel Road Student Loan Cashback card10, plus AMA members receive $100 cash bonus after activating.

View Cardmember Agreement | View Rates and Fees Table

Apply Now
High Yield Savings
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Laurel Road High Yield Savings®

AMA Members get a $100 cash bonus for opening an account.11

Doctors and existing AMA members can plan for the future with a highly competitive high yield savings account-with $0 cost to open.

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Physician Mortgage Lending
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Mortgage Lending For Residents

AMA Members get a 0.25% rate discount12. You could also save up to $650 off closing costs.13

Secure, online home loans with clear options, transparent fees, and the human support you need, when you need it. Check your rates today!

Apply directly from this page for access to this offer.

Check My Rates

Why get a Mortgage with Laurel Road?

0% down payment options available14

No private mortgage insurance required – for lower monthly payments14

Flexible and low interest rates – with fixed and variable options

Clear terms and fees online, with human support when you need it

Personal Lending
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Personal Lending

AMA Members get a 0.25% rate discount.15

We recognize the investment you've made in your future and have designed special personal loan products with low rates to reward your determination.

Check My Rates

Why get a Personal Loan from Laurel Road?

Low fixed rates available across various terms

We don't charge any application or origination fees or prepayment penalties

Additional 0.25% discount when automatic monthly payments are made from a bank account16

I think it’s great to have products for doctors because we have an unusual trajectory where we have high earning potential, but don’t qualify for much on paper if that potential is not considered."

Dr. Linda D.

Child & Adolescent Psychiatrist

It’s good that Laurel Road actually wants to hear from you on how they can improve their services not only for you, but for other people who are going to refinance with them."

Dr. Kasra H.

General Dentist

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Disclaimers

Notice: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All credit products are subject to credit approval. Mortgage products are also subject to collateral approval. Mortgage products are available in all 50 U.S. states and Washington, D.C. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.

IMPORTANT INFORMATION: The U.S. Department of Education recently announced a student loan debt relief plan which includes forgiveness of up to $10,000 for qualifying federal student loans and up to $20,000 for qualifying Pell Grant recipients. For more information, please read the announcement. Please note that if you refinance qualifying federal student loans with Laurel Road, you may no longer be eligible for certain benefits or programs and waive your right to future benefits or programs offered on those loans. Examples of benefits or programs you may not receive include, but are not limited to, student loan debt relief or public service loan forgiveness, repayment options such as Income Based Repayment or Pay As You Earn, or COVID-19 relief benefits such as a 0% interest rate, suspension of payments or loan forgiveness. Please carefully consider your options when refinancing federal student loans and consult StudentAid.gov for the most current information.

  1. Estimated Student Loan Refinance Post-residency Payment Examples

    Borrowers employed full time as an intern, resident, fellow, or similar postgraduate trainee at the time of loan disbursement are eligible to make $100 monthly payments throughout their training (“Residency Period”). These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin when the Residency Period ends. Assumptions: Repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments during the Residency Period of 36 months before the full repayment term begins. Repayment examples do not include any discounts.
    Fixed Rate Loans
    Term Interest Rate APR Monthly Payment Total Payments
    5 years 3.93% - 5.53% 36 months of $100 60 months of $1,998 - $2,181 $123,506 - $134,441
    7 years 4.35% - 5.85% 4.26% - 5.68% 36 months of $100 84 months of $1,514 - $1,656 $130,755 - $142,743
    10 years 4.59% - 6.03% 4.51% - 5.88% 36 months of $100 120 months of $1,147 - $1,273 $141,188 - $156,336
    15 years 4.81% - 6.33% 4.74% - 6.19% 36 months of $100 180 months of $866 - $994 $159,391 - $182,595
    20 years 4.91% - 6.63% 4.84% - 6.50% 36 months of $100 240 months of $728 - $876 $178,294 - $213,828
    Variable Rate Loans
    Term Interest Rate APR Monthly Payment Total Payments
    5 Year 3.98% - 5.62% 3.90% - 5.44% 36 months of $100 60 months of $1,994 - $2,170 $123,256 - $133,780
    7 Year 4.25% - 5.75% 4.17% - 5.58% 36 months of $100 84 months of $1,505 - $1,647 $129,982 - $141,921
    10 Year 4.40% - 5.93% 4.32% - 5.78% 36 months of $100 120 months of $1,131 - $1,264 $139,272 - $155,248
    15 Year 4.65% - 6.23% 4.58% - 6.10% 36 months of $100 180 months of $853 - $986 $157,078 - $181,001
    20 Year 4.90% - 6.53% 4.83% - 6.40% 36 months of $100 240 months of $727 - $867 $178,100 - $211,642
    Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate. Interest Rate: A simple annual rate that is applied to an unpaid balance. Variable Rates: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.

  2. The Member Name member interest rate discount is offered on new student loan refinance applications from active Member Name members. The Member Name discount is applied to your monthly payment and will be reflected in your billing statement. The Member Name member discount is only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. This offer cannot be combined with any other discounts from Laurel Road affiliated partners or employers.

  3. Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.

  4. Effective February 1, 2022, you must open a Laurel Road Linked Checking account simultaneously while refinancing your student loan with Laurel Road by 12/31/22 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Linked Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements. Click here for current Laurel Road Checking Rates. Normal account service charges and miscellaneous charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying account and per individual. The value of the bonus will be reported to the IRS on Form 1099-INT. If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee. Accounts overdrawn or closed at the time of bonus payment are not eligible. Offer is subject to cancellation without notice and cannot be combined with any other bonus offer. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

  5. The Laurel Road Linked Checking discount is available to borrowers who open a Laurel Road Linked Checking account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% rate discount for their first three monthly billing cycles. Starting with the fourth billing cycle and continuing with each billing cycle thereafter, the rate discount applied to each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Linked Checking account during the preceding calendar month; 0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. To continue to receive the discount for the fourth billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Linked Checking account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Laurel Road Linked Savings discount. For more information on the Laurel Road Checking Account visit www.laurelroad.com/refinance-student-loans/checking/#rates-fees-jump.

  6. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for forbearance of payments for one or more 3-month time periods (however, a minimum of twelve (12) months are required between any two forbearance periods). Borrowers with a loan term of at least ten (10) years are eligible for up to twelve (12) months of forbearance over the life of the loan; borrowers with a loan term less than ten (10) years are eligible for one (1) month for every year of the loan term (e.g., if a borrower’s loan term is five (5) years they are eligible for up to five (5) months of forbearance over the life of the loan). Borrowers seeking an economic hardship forbearance due to unemployment must have made twelve (12) consecutive monthly payments prior to a forbearance request to be eligible. For any other forbearance due to economic hardship, borrowers must have made nine (9) consecutive monthly payments prior to a forbearance request to be eligible. All requests for forbearance are subject to review, including the review of acceptable documentation (including updating documentation) of the nature and expected duration of the borrower's economic hardship. During any period of forbearance, interest will continue to accrue. Unless otherwise noted, at the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principal amount of the loan.

  7. AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

  8. A $100 cash bonus offer is available to current non-college student Member Name members who apply and are approved for a Laurel Road Student Loan Cashback Credit Card. The $100 cash bonus will be paid within 45 days of the member's activating the credit card. Existing credit card customers are not eligible. If you were the primary owner on a Laurel Road Student Loan Cashback Credit Card within the prior 24 months, you are not eligible. The value of the bonus may be reported to the IRS on Form 1099-INT.

  9. You will earn 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. This equates to $0.02 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $2.00 in Student Loan Credit. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit. This equates to $0.01 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $1.00 in Cashback Rewards. For more information visit https://www.laurelroad.com/cash-back-credit-card/#disclaimer.

  10. Introductory offer: For a limited time earn a cashback reward after spending $3,000 within the first 90 days of account opening. Offer is subject to change at any time. The cashback reward amount will be $300 if redeemed towards student loans with an eligible servicer. The cashback reward amount will be $150 if redeemed for statement credit. Cashback is awarded based on eligible credit card purchases. For more information, visit laurelroad.com/faq/how-do-i-get-the-introductory-offer-for-the-laurel-road-student-loan-cashback-card/.

  11. In order to receive the $100, Member Name Members must open a Laurel Road High Yield Savings account, the cash bonus will be paid out within 45 days of account opening. No minimum balance is required to open the account or receive the $100 cash bonus. Limit one cash bonus per qualifying Laurel Road High Yield Savings account holder. Limit one offer per qualifying account and per individual. If you were the primary owner on a Laurel Road High Yield Savings account within the prior 24 months, you are not eligible. The value of the bonus may be reported to the IRS on Form 1099-INT.

  12. The interest rate discount of 0.25% is offered to borrowers that are an active Member Name member at the time of closing. This 0.25% interest rate discount cannot be combined with other offers, except the Rewards Program. For Fixed-rate mortgages, the 0.25% rate discount is a permanent interest rate reduction that will be reflected in the Promissory Note interest rate. For adjustable-rate mortgages, the 0.25% rate discount will apply to the initial Fixed interest rate period and will be reflected in the maximum amount the interest rate can increase over the term of the loan, subject to the minimum interest rate that may be charged per the terms of the Promissory Note.

  13. Laurel Road offers up to $650 in lender's credit towards your mortgage closing costs. Credits cannot exceed borrowers' actual costs to close. For more information on how to obtain the $650 credit, refer to the Rewards Program information here https://www.laurelroad.com/healthcare-banking/mortgage/#disclaimer.

  14. 100% financing is only available to interns, residents, fellows, doctors, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), or Doctor of Podiatric Medicine (DPM). Only available when purchasing or refinancing with no cash out on a primary residence and loan amount does not exceed $750,000. Retired doctors are not eligible. Additional conditions and restrictions may apply. Maximum of 95% financing on properties in CA.

  15. The 0.25% Member Name member interest rate discount (“Member Discount”) is offered to personal loan applicants who are active Member Name Members. An additional 0.25% interest rate discount is also available to Member Name members who make personal loan payments through reoccurring electronic fund transfers (EFT) ( “AutoPay Discount”). The Member Discount and AutoPay Discount are only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. The Member Discount cannot be combined with any other offer, except the AutoPay Discount. Theses offers are subject to change without notice. This offer is not guaranteed if you do not meet Laurel Road’s personal loan or AutoPay Discount criteria. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

  16. AutoPay/EFT Discount: if the borrower chooses to setup monthly payments automatically by electronic fund transfer (EFT) from a bank account before closing, the interest rate will decrease by 0.25%. The discount will be reflected in your monthly payment.

Rewards Program Disclosure (Mortgage Only)

As used throughout this Rewards Program Disclosure (“Disclosure”), the terms “Lender”, “we”, “us”, and “our” mean KeyBank National Association. By using the Site, you are accepting the terms of the Rewards Program and this Disclosure as described herein, and as amended from time to time.

REWARDS PROGRAM

Lender offers applicants the opportunity to participate in a reward-based program (the “Rewards Program”) throughout the Lender’s mortgage loan application process using the Lender’s online mortgage platform or Site. Through the Rewards Program, applicants may have the opportunity to accrue points that will be redeemable and applied towards costs at closing.

The accrued points are earned by choosing certain specified options to complete the mortgage loan application process. The most cost effective and efficient tasks lead to the greatest amount of points. When you close your mortgage, the total amount of points earned are awarded and then converted into a lender credit. The dollar amount of the lender credit is then applied toward eligible non-recurring closing costs or disclosed fees.

Your participation in the Rewards Program is voluntary, and is expressly conditioned on compliance with the Rewards Program Rules and with all present and future Program Rules, terms, regulations, policies, and procedures that Lender may, in its discretion, adopt from time to time.

ACCRUING POINTS AND/OR CHOOSING CERTAIN SPECIFIED OPTIONS TO COMPLETE THE MORTGAGE APPLICATION PROCESS DOES NOT AFFECT THE REVIEW OF THE BORROWER’S MORTGAGE APPLICATION, LENDER’S ULTIMATE DECISION REGARDING THE BORROWER’S MORTGAGE APPLICATION, OR ANY TERM OF A LOAN OFFERED BY LENDER OTHER THAN A REDUCTION OF NON-RECURRING CLOSING COSTS OR DISCLOSED FEES.

Rewards Program Disclosure

As used throughout this Rewards Program Disclosure (“Disclosure”), the terms “Lender”, “we”, “us”, and “our” mean KeyBank National Association. By using the Site, you are accepting the terms of the Rewards Program and this Disclosure as described herein, and as amended from time to time.

REWARDS PROGRAM

Lender offers applicants the opportunity to participate in a reward-based program (the “Rewards Program”) throughout the Lender’s mortgage loan application process using the Lender’s online mortgage platform or Site. Through the Rewards Program, applicants may have the opportunity to accrue points that will be redeemable and applied towards costs at closing.

The accrued points are earned by choosing certain specified options to complete the mortgage loan application process. The most cost effective and efficient tasks lead to the greatest amount of points. When you close your mortgage, the total amount of points earned are awarded and then converted into a lender credit. The dollar amount of the lender credit is then applied toward eligible non-recurring closing costs or disclosed fees.

Your participation in the Rewards Program is voluntary, and is expressly conditioned on compliance with the Rewards Program Rules and with all present and future Program Rules, terms, regulations, policies, and procedures that Lender may, in its discretion, adopt from time to time.

ACCRUING POINTS AND/OR CHOOSING CERTAIN SPECIFIED OPTIONS TO COMPLETE THE MORTGAGE APPLICATION PROCESS DOES NOT AFFECT THE REVIEW OF THE BORROWER’S MORTGAGE APPLICATION, LENDER’S ULTIMATE DECISION REGARDING THE BORROWER’S MORTGAGE APPLICATION, OR ANY TERM OF A LOAN OFFERED BY LENDER OTHER THAN A REDUCTION OF NON-RECURRING CLOSING COSTS OR DISCLOSED FEES.

REWARDS PROGRAM RULES

  • Only available to individuals legally eligible to obtain a mortgage loan. Proof of age is required at closing.

  • Points are accrued based on tasks performed within a given application. Earnings are accrued per task. Points are earned once per task.

  • Borrowers can accrue up to 650 points per loan transaction. Total points accrued and/or available are located in the “My Rewards” widget.

  • Points are converted on a one-to-one basis to lender credits that will be reflected on the Closing Disclosure and applied to eligible non-recurring closing costs at Lender’s discretion. The maximum available lender credit that may be obtained for the Reward Program is $650

  • Points accrued during the process may be converted into rewards at the closing of an approved Lender loan, provided the applicants’ application remains active until the time of closing.

  • Points are non-assignable and non-transferable

  • Accrued points have no cash value, are non-negotiable, and are not redeemable either in whole or in part for cash. Applicants cannot receive cash back from rewards applied at closing. Accrued points have no value in the event that the applicant withdrawals the loan application, the application is withdrawn by Lender as incomplete, or the application is denied

  • Applied lender credits may not exceed limits that may be imposed on lender credits by investor or program guidelines. Applied lender credits may be modified if the total amount of credit exceeds the maximum allowed under the applicable guidelines.

  • DETERMINATION OF TAX LIABILITY OF REWARDS IS THE RESPONSIBILITY OF THE APPLICANT. APPLICANTS SHOULD CONTACT THEIR TAX ADVISORS WITH ANY TAX RELATED QUESTIONS.

  • Lender has the right, in its sole discretion and without notice, to change, update, revise, limit, supplement and otherwise modify the rule or terms of the Rewards Program and impose new or additional rules, terms and conditions on the applicant’s use of the Rewards Program, at any time, at its discretion, with or without notice, even though such changes may affect the accumulation of points or the ability to obtain the reward.

  • Lender reserves the right to change the Rewards Program Rules or terms at any time in its sole discretion without prior notice to borrower, including but not limited to: (i) the qualifications for eligibility; (ii) the value of points earned by the applicant; (iii) the number of points needed to earn a reward; and (iv) the rewards available to be earned. Each such modification will be effective upon posting on the Site.

  • Lender reserves the right, in its sole discretion and without notice, to terminate or cancel the Rewards Program, in whole or in part, or an individual applicant’s participation in the Program for any reason and at its sole discretion, with or without cause. “Termination” means ending the Rewards Program, with no further ability to earn points and/or convert points at closing by any applicant; “Cancellation” means the expiration or revocation of an individual applicant’s eligibility, for any reason, with or without cause. Neither Termination nor Cancellation of the Rewards Program affects the applicant’s pending loan application(s).

Questions or Concerns Regarding Rewards Program
If you have questions or concerns regarding rewards, please call at (877) 801-4686 or email [email protected].

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of September 23, 2021. Information and rates are subject to change without notice.

Terms and Conditions

Resident Student Loan Refinancing – Terms And Conditions

ELIGIBILITY & ELIGIBLE LOANS

Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).

Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school.

Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.

LOAN AMOUNT

For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing.

FEE INFORMATIONM

There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.

Resident & Fellow Personal Loan – Terms and Conditions

Fee Information

There are no origination fees or prepayment penalties associated with the loan. A late fee may be assessed if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.

Loan Amount

If you are a doctor or dentist, minimum loan amount of $5,000. Maximum amount of $80,000 for those in practice or residents in training with a contract to practice to start within 5 months. Maximum loan amount for those in training without a contract to practice are as follows: first year of study – $30,000; second year of study – $35,000; third year of study – $40,000 and forth (and above) year of study – $45,000.

Eligibility

Must be a U.S. Citizen, or Permanent Resident with a valid I-551 card and meet underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements). Must also have a Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS). Students in their final academic year are eligible if they have a match letter or contract that requires one of the aforementioned degrees.