Health Professions & Medical Residency > Repayment Terms

Eligibility Borrowing Limits Loan Partners Repayment Information

Repayment Terms

Take up to 20 years to repay (up to 25 years for loans of $40,000 or more)*
No prepayment penalties
Minimum monthly payment as low as $25*

*See Repayment Examples below for important details.

Deferring Principal and Interest Payments During School

Make no payment while in school for up to 6 years. Repayment of principal and interest begins approximately nine months after you graduate or cease to be enrolled at least half time. Interest that accrues during the deferment period will be added to principal at the time you begin repayment. Students enrolled in a medical residency program may be eligible for up to 4 years of additional deferment while completing residency.

Repayment Examples

Repayment examples contain helpful data providing you with important information about the details of your loan, fees (if any), and monthly payments. Repayment examples also show you how the Annual Percentage Rate (APR) is derived. The APR is a measure of what a loan will cost. It takes into account the interest rate, fees, length of the loan, and the timing of all payments.

Select the loan amount that best reflects your expected needs to view repayment examples for the Health Profession loans.