Refinance Medical Student Loans

Deciding to go to medical school can seem like a daunting challenge, but it can pay off huge in the end. As medical schools have become popular in the United States, so too has the increase in price to attend these schools. As a medical student, you are typically going to be in school for a minimum of 4 years all while acquiring large amounts of student loan debt. Thankfully, as the student loan market has gotten more competitive, there are now more lenders than ever who have entered the student loan refi space. You now have many options to choose from in an effort to save you money on your student loans. Below you will find a comprehensive list of student loan lenders and their offerings that may help you when you decide to refinance your medical student loans.

Best Lenders to Refinance Medical Student Loans in 2019


Fixed Rates	3.89% to 6.32%	3.49% to 8.72%	3.20% to 6.25%	3.50% to 7.02%	3.25% to 7.03%	3.90% to 8.18%	3.09% to 6.69%	3.25% to 7.03%	3.15% to 6.35%
Variable Rates	2.47% to 5.87%	2.47% to 8.03%	2.48% to 6.25%	2.80% to 6.22%	2.69% to 7.43%	2.57% to 6.98%	2.55% to 6.01%	2.69% to 7.43%	3.02% to 6.47%
Loan Term Length	5 to 20	5 to 20	5 to 20	5 to 20	5 to 15	5 to 20	5 to 20	5 to 15	5 to 20
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Minimum Lending Amount	$5,000	$5,000	$5,000	$5,000	$7,500	$5,000	$15,000	$7,500	$10,000
Maximum Lending Amount	No Max	$125k undergrad $250k graduate $300k medical	$500,000	No Max	No Max	No Max	No Max	$350,000	$150,000
Auto Pay Discount
Job Loss Protection	up to 1 year	up to 18 months	up to 24 months	up to 1 year	contact lender	up to 1 year	up to 1 year	contact lender	contact lender
Average Savings	$30,939*	$192/month*	$24,046*	$20,200*	$20,657*	Varies	$26,215	$29,340	N/A
Interest Only Payments
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Eligible Degrees	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate	Undergrad & Graduate
Eligible Loans	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal	Private & Federal
Credit Score Minimum	660	680	680	680	670	Good or Excellent score needed	680	670	720
Minimum Income Requirements	none	none	$24k per year	none	none	none	$35k annual	$42k annual	$60k annual
Apply with Cosigner
Cosigner Release
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Transferable Parent PLUS Loan from Parent to Graduate
No Origination Fees
No Prepayment Penalty
Refinance Parent PLUS Loans
Can Be a Resident of Any State	Any except AL, DE, KY, MS, NV, RI	Any except ME, ND, NV, RI, WV	Any except ID, LA, MS, NV, SD or VT	Yes	Yes	Yes	Yes	Yes	Texas Residents only
Previously Defaulted Loans Allowed
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate
Time to get a custom rate	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less	3 minutes or less
Application Completion time	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less	10 minutes or less
Application Mobile Friendly
No Personal References Needed
Interest is Tax Deductible
	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate	Request Rate

LENDER	–	MORE INFO
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Do Lenders Charge an Upfront Fee to Refinance Medical Student Loans?

‣ In some cases, lenders will charge an origination or “obligation fee”. Most of if not all of the lenders we have partnered with on this site do not a have any type of fees associated with their loans. This means that you will not see any surprises when you see your next bill after choosing to refinance your medical student loans or any initial sneaky fees that you may not have known about prior to refinancing.

Will I be Required to Make Payments During Residency or a Fellowship?

‣ Almost all lenders will require for you to make some type of payment during your time in residency or fellowship. Back in 2009, there was a bill that allowed for you to put off paying back your student loans until you finished your residency or fellowship. This bill has since been eliminated. The best way to know for sure is to reach out to the lender who you are looking to go with and see what their terms are. Many of the lenders we showcase offer a great list of tools and even discounts for things like auto-payment from your bank account.

Will The Lender Help You Through Financial Hardship?

‣ One of the most common questions you will want to ask your lender is how they will help you in the case of financial hardship. Each of the lenders featured on this site have varying financial hardship programs and you will want to consult your lender to determine which program will work best for you and your situation prior to selecting the lender. These programs can be a huge help if you have an unfortunate situation such as job loss or other financial mishaps.

When Do You Have To Start Making Payments?

‣ One of the most important things you need to get clear with your lender off the bat is when you are expected to make your first payment. In most cases, there is no grace period and once the loan has been funded the lender will expect you to pay. Be sure when you are working with your lender to ask how long it will take for your previous loans to be paid and when you should expect your first loan payment. If setting up automatic payments is import to you, your lender will generally be able to provide you with guidelines as to when you can expect to make your first payment as well as setting up auto-pay.

Can You Release Your Cosigner?

‣ One of the biggest questions you should consider when looking for a lender is if they offer co-signer release. If you may not qualify initially for refinancing based on your own income or credit, you may have the opportunity to use a co-signer. All of our lending partners allow for users to use a co-signer, not only will this help you get approved but it may also lead to you getting a lower monthly payment due to your co-signers credit score and work history among other factors considered. Getting approved is great, but your co-signer will also want to know the terms of their agreement and at what point they can be removed from the loan. Before using a co-signer be sure to ask the lender about their practices with co-signers. Some allow for them to be released after just 12 months while others may not release until 24 months has been completed.

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