Medical Resident Loan Refinancing
Rates & Terms

The payment examples below assume the APR, monthly payment and total payments during the life of a $100,000 private loan at the end of the residency period with a single disbursement. All medical resident loan rates below are shown with the AutoPay Discount (0.25%). There are no application or origination fees, and no prepayment penalties.

For variable rate loans, the current index rate is 2.33% and may change monthly. The current index for variable rate loans is derived from one-month LIBOR, thus changes in the LIBOR index may cause your monthly payment to increase. 5, 7, and 10 Year terms are capped at 8.95% APR, 15 and 20 Year terms are capped at 9.95% APR to the extent permitted under law.

Your actual interest rate may be different than the medical resident loan interest rates in these examples and will be based on term of loan, your financial history, and any other factors. State restrictions may apply.

The minimum monthly payment of $100 while in residency period, may not pay all of the interest due each month, which will likely result in negative amortization during the residency period.

Fixed Rate Loans

Full Repayment TermOrigination
Fee
Fixed Rate
(APR with AutoPay)1
No. of
Payments
Monthly
Payment**
Total
Payments
5 YearNone4.399% – 7.593%60$184.84 – $199.63$11,090.40 – $11,977.80
7 YearNone4.824% – 8.339%84$139.35 – $156.31$11,705.40 – $13,130.04
10 YearNone5.424% – 8.239%120$106.92 – $121.27$12,830.40 – $14,552.40
15 YearNone5.449% – 8.619%180$80.12 – $97.71$14,421.60 – $17,587.80
20 YearNone5.649% – 8.989%240$68.22 – $88.30$16,372.80 – $21,192.00

Variable Rate Loans

TermOrigination FeeVariable Rate
(APR with AutoPay)1
No. of
Payments
Monthly
Payment**
Total
Payments
5 YearNone2.970% – 7.343%60$178.45 – $198.45$10,707.00 – $11,907.00
7 YearNone4.574% – 7.989%84$138.18 – $154.56$11,607.12 – $12,983.04
10 YearNone5.174% – 7.989%120$105.69 – $119.95$12,682.80 – $14,394.00
15 YearNone5.199% – 8.000%180$78.81 – $94.13$14,185.80 – $16,943.40
20 YearNone5.399% – 8.000%240$66.82 – $82.09$16,036.80 – $19,701.60

**Student Loan: The .25% ACH discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

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Questions? Call us for a free consultation at 866-336-DOCS
or email at medicalresidents@sofi.com.

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