As a medical resident or fellow, you have a lot to do. Growing interest on your student loans shouldn’t stand in the way. With SoFi, you can refinance your federal and private student loans and reduce your payment to just $100/month for up to four years.*
Whether you’re looking to pay off loans sooner or lock in a lower monthly payment, we offer a range of rates and terms. There are no origination fees, and no prepayment penalties.
Choose a repayment term and pick between a low fixed or variable interest rate based on your expected future income as a physician.
If you have federal and private student loans, you can now apply to consolidate them into one easy payment.
Interest on your SoFi loan will not compound during residency, so you won't end up paying interest on interest.
We’ll let you know if you’re qualified before you complete the full application.
Compare the plans available to you with a choice of rates and terms.
Upload screenshots of your student loan statements, then sign your paperwork electronically.
“For a lot of people who go into medicine, you get into it to help people. You go pretty far into debt along the way, you try not to think about the massive debt you’re accruing, but it’s always sitting there in the back of your mind. I refinanced my medical school loans with SoFi and saved about $40,000. It’s easier for me to relax now and not have those nagging thoughts.”
“I know I’m making progress and [SoFi has] given me the freedom to invest that money in other assets. My debt is there, but it isn’t holding me back. I tell everyone about SoFi - it’s the easiest thing. Before, I had three different loans and it was frustrating. Now I pay one, and I’m saving 2% in interest every month - that is a huge savings for me every month.”
Yes! SoFi will refinance student debt for medical residents and fellows before you become an attending physician. Residents will be required to make minimum monthly payments of $100 on their debt to SoFi until the end of your residency or fellowship program, up to 54 months. After this time, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.
Residents and fellows can apply to refinance once you have been matched to your residency or fellowship program. Applicants must be within 4 years of becoming an attending physician. Any fellowship or extended residency training period must be agreed to at the time of refinancing.
Upon completion or departure from your residency program, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.
SoFi offers 5, 7, 10, 15, and 20 year fixed and variable terms. This means that if you refinance today, have four years left in your residency, and refinance to a 20 year loan term, as long as you make every payment on time, your loan will be fully paid off in 24 years.
Interest that accrues while paying $100 monthly payments during the residency period will capitalize at the end of your residency period. This means that you will not be charged compounded interest on your SoFi loan during your residency period.