Private Medical School Loans

Very often scholarships and Federal Stafford loans are not enough to cover the true cost of medical school. The GradLoans.com private Medical School Loan was designed with this in mind. You can get funds up to the cost of tuition, with an annual maximum of $40,000, delivered to you in as little as 5 business days.
Apply Online for a Medical School Loan
You can use a Medical school loan to cover any education related expenses, including, computers, books transportation, and room and board.
GradLoans Medical School Loan Benefits
Defer paymet while in schol and for a six-month grace period after graduation5
Exclusive Graduation Reward - $300 principal reduction on every private student loan upon graduation1
No Upfront Fees!2
Lower your interest rate by 0.25% when you choose to have your payments automatically deducted from your personal bank account3
Rates as low as one-month London Interbank Offered Rate (LIBOR) + 2.5%4
Borrow up to the cost of education minus financial aid received
Loan Qualifications
Must be enrolled at least half-time at an eligible school.
Must be a U.S. citizen or permanent resident or have a cosigner who is.
You must be the legal age of majority or at least 18 years of age with a cosigner who is legal age of majority.*
Your permanent residence is NOT in Texas, Wisconsin, Washington, Illinois, or Iowa. (There is no state restriction for cosigners.) Residents of these states should review this alternative student loan.
Many borrowers will need a cosigner. Borrowers without a cosigner must have at least 27 months of established credit history.
Undergraduate students should visit our undergraduate private loan section to apply for private student loans for undergrads.
Apply Online for a Medical School Loan Annual Percentage Rate (APR) and Repayment Example:
If you borrowed $10,000 in a single installment, the 3-month LIBOR remained constant at 2.68% (as of July 1, 2008) and you had a 24-month combined in-school and 6-month grace period with a 240-month repayment period*, your possible APR and repayment schedules are shown below. Your annual percentage rate may increase or decrease after consummation.

Repayment Option Origination Fee APR In School & grace period Repayment Period


Immediate Interest and Principal Repayment 0.00% 8.00% N/A 240 payments of $83.65


Immediate Interest and Deferred Principal Repayment 0.00% 8.09% 30 payments of $66.67 240 payments of $84.42


Both Deferred Interest and Principal Repayment 0.00% 8.08% N/A 240 payments of 102.91



*25 year repayment for dental and medical school loans.


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Medical School Loan Borrowing Amounts
You may borrow from $3,000 up to $45,000 annually based on cost of attendance. See the chart below for more details.
Degree Program
Limit Per Academic Year
Medicine
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Dentistry
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Law School
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Business School
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Osteopathic
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Nursing School Loans
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
All Others
Annual Minimum is $3,000; Annual Maximum is $45,000 and is Based on Cost of Attendance; Aggregate Academic Lifetime Maximum is $150,000
Apply Online for a Medical School Loan
What else sets the GradLoans Medical School Loan apart?
Full deferment and forbearance options available while in school, working towards a residency or internship, unemployed or experiencing an economic hardship, serving in the military or needing an administrative forbearance. Other benefits include:
Flexibile repayment options
6 month grace period after graduation
Low minimum monthly payment
No prepayment penalties
24/7 online account access
Federal Stafford Loan for Medical School
Learn more about Stafford loans for medical school
Apply Online - Federal Stafford Loan Application
Research Top Medical Schools
Harvard University
Johns Hopkins University
Washington University in St. Louis
University of Pennsylvania
University of California-San Francisco
Duke University
University of Washington
Stanford University
University of California-Los Angeles
Yale University
Apply Online for a Medical School Loan
After Graduating From Medical School
Learn more about student loan consolidation
Consolidate your business school loans
* The legal age for entering into contracts is 18 years of age in every state except Alabama and Nebraska (19 years old), and Mississippi and Puerto Rico (21 years old). 1 Proof of graduation is required. 2 A repayment finance charge may apply based on your or your cosigner's credit history. 3 The 0.25% rate reduction is available to borrowers who arrange with their servicer to automatically deduct monthly payments from their personal bank account. Savings programs are effective for all loans disbursed on or after October 13, 2006. 4 LIBOR stands for London Interbank Offered Rate. The one-month LIBOR is the Current Index, as published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). Your variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your credit history and will increase or decrease if the one-month LIBOR index changes. Your variable interest rate is calculated by adding the current one-month LIBOR index (captured on the 25th business day of each month and rounded up to the nearest 1/8th of one percent) to your margin. The current one-month LIBOR index was 3.500% on 10/1/08. This APR example assumes a $10,000 undergraduate, cosigned, loan disbursed over two transactions with a deferment period of 45 months upon initial disbursement and a six month grace period upon graduation, a 25 year repayment term with no repayment finance charge, and a 2.50% margin. Margins can range from 2% to 8% (depending whether you are an undergraduate or graduate, if the loan is co-signed and upon your or your cosigner's credit history) and repayment finance charges can range from 0% to 5.5% (depending upon your or your cosigner's credit history). 5 Interest will continue to accrue while your private student loan payments are deferred, and it will be capitalized (added to your principal loan balance) when repayment begins.