Medical Resident and Fellow Student Loan Refinancing

Don’t let student debt slow you down.

$100 monthly payments. Low rates.
No compounding interest.*

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Checking your rate will not affect your credit score✝.

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.*

Rates and Terms

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.

Fixed Rate

Rates start from 3.625% APR to
7.755% APR when you enroll in AutoPay.1

Variable Rate

Rates available from 3.065% APR to
7.370% APR when you enroll in AutoPay.1

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Why refinance your student loans in residency?

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.

How it works

Painless pre-qualification

Get pre-qualified online in two minutes. No obligations, no commitments, no hidden fees.

Select your loan.

Find the loan that matches your financial goals and apply online.

Receive the funds.

Once you sign your paperwork, we’ll transfer the funds. Usually within 30 days.

See your rate

Takes two minutes. Won’t affect
your credit score.✝

Testimonials

“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.”

—Charlie, M.D.

“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.”

— Dr. Jared Pool, University of the Pacific

Frequently asked questions

Q: Does SoFi refinance student loans for Medical Residents and Fellows?

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.

Q: Am I eligible for a SoFi Medical Resident Refinance loan?

  • 1. You’re a medical resident or fellow with up to four years left in your approved program.
  • 2. You have over $10k in private or federal student loan debt.
  • 3. You have graduated from a selection of Title IV accredited university or graduate programs in the U.S.
  • 4. You meet SoFi’s underwriting criteria.

See SoFi.com/eligibility for additional information.

Q: When can I refinance?

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.

Q: What happens if I leave my residency program?

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.

Q: What terms do you offer?

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.

Q: What happens to the accrued interest on my loan during the $100 payment per month residency period?

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.

See FAQs

Additional resources

medical degree return

What is the return on your Medical degree?

tricks to pay off medical loan debt

4 money tricks doctors can use to pay down student loans.

paying off medical school debt

Paying off medical school debt. What every doctor needs to know.

Questions?

Call us at
866-336-DOCS or email at [email protected].

Find My Rate

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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