WHAT ARE THE RATES AND FEES?

When you choose the Health Professions Residency Loan, you can receive some of the most competitive rates available.

Students who qualify for our best terms pay zero fees¹ and receive an interest rate equal to the Prime Rate² minus 1%. Rates and fees may vary.

Interest Rates and Fees¹
Interest Rate Index & Margin	As low as the Prime Rate minus 1%¹
Origination Fee (at disbursement)	0%
Origination Fee (at repayment)	0%
APR²	From 6.49% up to 9.65%
APR with auto payment rate reduction²	From 6.16% up to 9.32%

Follow this link to review disclosures regarding the Annual Percentage Rate (APR) and other loan terms.

Have a limited credit history or no income? A co-borrower can help.

Remember that your eligibility for this loan may be determined (in part) by your employment, income, and credit history. Applicants with better credit scores receive lower interest rates and reduced fees.

If you have limited (or damaged) credit history, or have no income or part-time income, applying with a qualified co-borrower can increase your chances of receiving a loan with the most attractive terms.

A co-borrower (often a parent) is someone who signs your promissory note along with you. By co-signing your promissory note, your co-borrower assumes responsibility for the loan if you fail to repay it.

You should consider applying with an eligible co-borrower if:

You are not a U.S. citizen, national, or permanent resident alien
You have a limited or damaged credit history
You have limited or no income
You want to improve your chances of receiving our best loan terms

Ready to apply?

Use our fast online application or call us at (800) 255-8374.

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¹ Qualified, creditworthy applicants can receive an interest rate as low as Prime minus 1% and zero fees. However, if you do not qualify for our best terms or apply as a credit-ready applicant, you may be offered a loan with a different interest rate, fees, borrowing limit, and/or repayment period.

² The variable interest rate is based on the highest domestic Prime Rate as published in the "Money Rates" table of The Wall Street Journal less a margin of 0.50%. The variable interest rate is set monthly based on the Prime Rate as published on the last business day of the calendar month immediately preceding each monthly adjustment date. Interest rate reduced an additional 0.50% when loan payments are made using auto debit. With this rate reduction, qualified borrowers receive Prime minus 1%.