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Heading into the healthcare field can be rewarding and lucrative. However, it can also be expensive to get there — students who attend a healthcare program leave with an average medical school debt of $232,300.
While this might seem like a massive amount of debt, there are fortunately a few options that can help you manage it. For example, refinancing medical school loans might help you save money and potentially pay off your loans faster.
Here are Credible’s partner lenders that refinance medical school loans:
Lender | Fixed rates from (APR) | Variable rates from (APR) | Loan terms (years) | Loan amounts |
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
4.4%+
|
4.99%+
| 5, 7, 10, 15, 20 | $10,000 up to $250,000
(depending on degree) |
- Fixed APR:
4.4%+
- Variable APR:
4.99%+
- Min. credit score:
720
- Loan amount:
$10,000 to $400,000
- Loan terms (years):
5, 7, 10, 15, 20
- Repayment options:
Military deferment, forbearance
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas
- Customer service:
Email, phone
- Soft credit check:
720
- Cosigner release:
No
- Loan servicer:
Firstmark Services
- Max. Undergraduate Loan Balance:
$100,000 - $149,000
- Max. Graduate Loan Balance:
$200,000 - $400,000
- Offers Parent PLUS Refinancing:
Does not disclose
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.39%+1
|
6.66%+1
| 5, 7, 10, 15, 20 | $10,000 to $500,000
(depending on degree and loan type) |
- Fixed APR:
5.39%+1
- Variable APR:
6.66%+1
- Min. credit score:
Does not disclose
- Loan amount:
$10,000 to $750,000
- Loan terms (years):
5, 7, 10, 15, 20
- Repayment options:
Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees:
Late fee
- Discounts:
Autopay, loyalty
- Eligibility:
Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Cosigner release:
After 24 to 36 months
- Loan servicer:
Firstmark Services
- Max. Undergraduate Loan Balance:
$100,000 to $149,000
- Max. Graduate Loan Balance:
Less than $150,000
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.99%+2
|
5.99%+2
| 5, 7, 10, 12, 15, 20 | $5,000 to $300,000
(depending on degree type) |
- Fixed APR:
5.99%+2
- Variable APR:
5.99%+2
- Min. credit score:
Does not disclose
- Loan amount:
$5,000 to $300,000
- Loan terms (years):
5, 7, 10, 12, 15
- Repayment options:
Military deferment, forbearance, loans discharged upon death or disability
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
All states except for ME
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Cosigner release:
After 24 to 36 months
- Loan servicer:
College Ave Servicing LLC
- Max. Undergraduate Loan Balance:
$100,000 to $149,000
- Max. Graduate Loan Balance:
Less than $300,000
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
6.0%+5
|
7.88%+5
| 5, 10, 15, 20 | $1,000 to $250,000 |
- Fixed APR:
6.0%+5
- Variable APR:
7.88%+5
- Min. credit score:
700
- Loan amount:
$7,500 to $200,000
- Loan terms (years):
5, 10, 15, 20
- Repayment options:
Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability
- Fees:
None
- Discounts:
Autopay
- Eligibility:
Must be a U.S. citizen or permanent resident and submit two personal references
- Customer service:
Email, phone
- Soft credit check:
Yes
- Cosigner release:
After 36 months
- Loan servicer:
Granite State Management & Resources (GSM&R)
- Max. Undergraduate Loan Balance:
$150,000 to $249,000
- Max. Graduate Loan Balance:
$150,000 to $199,000
- Offers Parent PLUS Refinancing :
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.08%+3
|
5.03%+3
| 5, 7, 10, 12, 15, 20 | $10,000 to $250,000 |
- Fixed APR:
5.08%+3
- Variable APR:
5.03%+3
- Min. credit score:
680
- Loan amount:
$10,000 to $250,000
- Loan terms (years):
5, 7, 10, 15, 20
- Repayment options:
Forbearance
- Fees:
None
- Discounts:
None
- Eligibility:
Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school
- Customer service:
Email, phone
- Soft credit check:
Yes
- Cosigner release:
No
- Loan servicer:
Mohela
- Max. Undergraduate Loan Balance:
$250,000
- Max. Graduate Loan Balance:
$250,000
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.61%+4
|
7.6%+4
| 5, 10, 15, 20 | $5,000 to $250,000 |
- Fixed APR:
5.61%+4
- Variable APR:
7.6%+4
- Min. credit score:
670
- Loan amount:
$5,000 to $250,000
- Loan terms (years):
5, 10, 15, 20
- Repayment options:
Academic deferment, military deferment, forbearance
- Fees:
Late fee, returned payment fee
- Discounts:
Autopay
- Eligibility:
Must be U.S. citizen or permanent resident
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Cosigner release:
Yes
- Max undergraduate loan balance:
$250,000
- Max graduate loan balance:
$250,000
- Offers Parent PLUS refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
6.94%+
7 | N/A | 5, 7, 10, 12, 15, 20 | Up to $300,000 |
- Fixed APR:
6.94%+
7
- Variable APR:
N/A
- Min. credit score:
670
- Loan amount:
Up to $300,000
- Loan terms (years):
5, 7, 10, 15, 20
- Time to fund:
Usually one business day
- Repayment options:
Academic deferral, military deferral, forbearance, death/disability discharge
- Fees:
None
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone
- Soft credit check:
Yes
- Cosigner release:
After 24 months
- Max. undergraduate loan balance:
$300,000
- Max. graduate balance:
$300,000
- Offers Parent PLUS loans:
Yes
- Min. income:
None
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
4.49%+
|
5.02%+
| 5, 7, 10, 15 | Up to $300,000 |
- Fixed APR:
4.49%+
- Variable APR:
5.02%+
- Min. credit score:
700
- Loan amount:
$5,000 to $300,000
- Loan terms (years):
5, 7, 10, 15
- Max. undergraduate Loan Balance:
$125,000
- Time to Fund:
10 to 30 days
- Repayment options:
Immediate repayment, forbearance
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Must be a U.S. citizen or permanent resident and have already graduated with at least an associate degree from an eligible institution
- Customer service:
Email, phone
- Soft credit check:
Yes
- Cosigner release:
After 12 months
- Loan servicer:
LendKey Technologies Inc.
- Max. graduate Loan Balance:
$175,000
- Credible Review:
LendKey Student Loans review
- Offers Parent PLUS Refinancing:
No
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.5%+
| N/A | 7, 10, 15 | $10,000 up to the total amount of qualified education debt |
- Fixed APR:
5.5%+
- Variable APR:
N/A
- Min. credit score:
670
- Loan amount:
$10,000 up to the total amount
- Loan terms (years):
7, 10, 15
- Repayment options:
Military deferment, loans discharged upon death or disability
- Fees:
None
- Discounts:
None
- Eligibility:
Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
- Customer service:
Email, phone
- Soft credit check:
Yes
- Cosigner release:
No
- Loan servicer:
AES
- Max. Undergraduate Loan Balance:
No maximum
- Max. Gradaute Loan Balance:
No maximum
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
|
5.79%+
| N/A | 5, 10, 15 | $7,500 up to $250,000
(depending on highest degree earned) |
- Fixed APR:
5.79%+
- Variable APR:
N/A
- Min. credit score:
680
- Loan amount:
$7,500 to $250,000
- Loan terms (years):
5, 10, 15
- Repayment options:
Academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees:
None
- Discounts:
Autopay
- Eligibility:
Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000
- Customer service:
Email, phone
- Soft credit check:
Does not disclose
- Cosigner release:
No
- Loan servicer:
Rhode Island Student Loan Authority
- Max. Undergraduate Loan Balance:
$150,000 - $249,000
- Max. Graduate Loan Balance:
$200,000 - $249,000
- Offers Parent PLUS Refinancing:
Yes
|
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 5EDvestinU Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 7ISL Education Lending Disclosures | 8Nelnet Bank Disclosures |
Learn more about Credible’s partner lenders
Brazos
If you’re a Texas resident, Brazos might be a good choice for refinancing. You can refinance $10,000 to $400,000 if you graduated with a medical degree.
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Brazos Student Loan Refinancing
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Compare offers from top refinancing lenders to determine your actual savings.
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Checking rates won't affect your credit score
- Fixed APR:
4.4%+
- Variable APR:
4.99%+
- Min. credit score: 720
- Loan amount: $10,000 to $400,000
- Loan terms (years): 5, 7, 10, 15, 20
- Repayment options: Military deferment, forbearance
- Fees: Late fee
- Discounts: Autopay
- Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas
- Customer service: Email, phone
- Soft credit check: 720
- Cosigner release: No
- Loan servicer: Firstmark Services
- Max. Undergraduate Loan Balance: $100,000 - $149,000
- Max. Graduate Loan Balance: $200,000 - $400,000
- Offers Parent PLUS Refinancing: Does not disclose
Pros
- Competitive interest rates
- 0.25% autopay discount
- No application, origination, or disbursement fees
Cons
- Not available outside of Texas
- Cosigner release not offered
- Requires a minimum income of $60,000 ($30,000 with a cosigner), which might make it difficult for new graduates to qualify
Citizens
With Citizens, medical school graduates can refinance $10,000 to $750,000. Refinancing is also available to borrowers who didn’t complete their degree — though this will affect the maximum amount they can refinance with Citizens.
Additionally, if you already have an account with Citizens, you could get a 0.25% rate discount — plus another 0.25% off your rate if you sign up for autopay.
3.7
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Citizens Student Loan Refinancing
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Checking rates won't affect your credit score
- Fixed APR:
5.39%+1
- Variable APR:
6.66%+1
- Min. credit score: Does not disclose
- Loan amount: $10,000 to $750,000
- Loan terms (years): 5, 7, 10, 15, 20
- Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees: Late fee
- Discounts: Autopay, loyalty
- Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
- Customer service: Email, phone, chat
- Soft credit check: Yes
- Cosigner release: After 24 to 36 months
- Loan servicer: Firstmark Services
- Max. Undergraduate Loan Balance: $100,000 to $149,000
- Max. Graduate Loan Balance: Less than $150,000
- Offers Parent PLUS Refinancing: Yes
Pros
- 0.25% loyalty discount
- 0.25% autopay discount
- Degree not required
Cons
- Doesn’t disclose minimum income or credit score requirements
- Long cosigner release period (36 months)
- Cosigner release not available on the Education Refinance Loan for Parents
College Ave
With College Ave, you can refinance $5,000 to $300,000 of medical school debt and can choose from 16 repayment terms ranging from five to 20 years.
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
College Ave Student Loan Refinancing
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Checking rates won't affect your credit score
- Fixed APR:
5.99%+2
- Variable APR:
5.99%+2
- Min. credit score: Does not disclose
- Loan amount: $5,000 to $300,000
- Loan terms (years): 5, 7, 10, 12, 15
- Repayment options: Military deferment, forbearance, loans discharged upon death or disability
- Fees: Late fee
- Discounts: Autopay
- Eligibility: All states except for ME
- Customer service: Email, phone, chat
- Soft credit check: Yes
- Cosigner release: After 24 to 36 months
- Loan servicer: College Ave Servicing LLC
- Max. Undergraduate Loan Balance: $100,000 to $149,000
- Max. Graduate Loan Balance: Less than $300,000
- Offers Parent PLUS Refinancing: Yes
Pros
- 16 repayment terms to choose from
- 0.25% autopay discount
- Cosigner release offered (after 24 months)
Cons
- Doesn’t disclose minimum income or credit score requirements
- No physical locations
- Not available in Maine
EdvestinU
While EdvestinU won’t refinance as much debt as some of its competitors, it does offer a wide range of loan terms and a choice of a fixed or variable interest rate. Refinancing is available to those who did not graduate.
Plus, EdvestinU offers deferment options should you fall on hard times.
3.8
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
EDvestinU Student Loan Refinancing
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Compare offers from top refinancing lenders to determine your actual savings.
Check Personalized Rates
Does refinancing make sense for you? Compare offers from top refinancing lenders to determine your actual savings.
- Fixed APR:
6.0%+5
- Variable APR:
7.88%+5
- Min. credit score: 700
- Loan amount: $7,500 to $200,000
- Loan terms (years): 5, 10, 15, 20
- Repayment options: Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability
- Fees: None
- Discounts: Autopay
- Eligibility: Must be a U.S. citizen or permanent resident and submit two personal references
- Customer service: Email, phone
- Soft credit check: Yes
- Cosigner release: After 36 months
- Loan servicer: Granite State Management & Resources (GSM&R)
- Max. Undergraduate Loan Balance: $150,000 to $249,000
- Max. Graduate Loan Balance: $150,000 to $199,000
- Offers Parent PLUS Refinancing : Yes
Pros
- Variable and fixed rates available
- Offers refinancing to borrowers who haven’t completed their degrees
- No application, origination, or prepayment fees
Cons
- Long cosigner release period (36 months)
- Borrowers with poor or fair credit might not qualify
ELFI
If you have a large amount of debt, Education Loan Finance (ELFI) might be a good choice — you can refinance a minimum of $10,000 with no set maximum.
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Education Loan Finance Student Loan Refinancing
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Checking rates won't affect your credit score
- Fixed APR:
5.08%+3
- Variable APR:
5.03%+3
- Min. credit score: 680
- Loan amount: $10,000 to $250,000
- Loan terms (years): 5, 7, 10, 15, 20
- Repayment options: Forbearance
- Fees: None
- Discounts: None
- Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school
- Customer service: Email, phone
- Soft credit check: Yes
- Cosigner release: No
- Loan servicer: Mohela
- Max. Undergraduate Loan Balance: $250,000
- Max. Graduate Loan Balance: $250,000
- Offers Parent PLUS Refinancing: Yes
Pros
- No maximum loan limit
- Variable-rate loans capped at 9.95% APR
- Up to 12 months of forbearance available for borrowers experiencing financial hardship
Cons
- No discounts available
- Cosigner release not offered
- Might be hard to qualify if you have poor or fair credit
INvestEd
Unlike many lenders, INvestEd doesn’t require borrowers to have graduated to apply for refinancing, which could make it a good option if you didn’t complete your degree. With INvestEd, you can refinance $5,000 to $250,000.
3.1
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
INvestEd Student Loan Refinancing
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Check Personalized Rates
Checking rates won't affect your credit score
- Fixed APR:
5.61%+4
- Variable APR:
7.6%+4
- Min. credit score: 670
- Loan amount: $5,000 to $250,000
- Loan terms (years): 5, 10, 15, 20
- Repayment options: Academic deferment, military deferment, forbearance
- Fees: Late fee, returned payment fee
- Discounts: Autopay
- Eligibility: Must be U.S. citizen or permanent resident
- Customer service: Email, phone, chat
- Soft credit check: Yes
- Cosigner release: Yes
- Max undergraduate loan balance: $250,000
- Max graduate loan balance: $250,000
- Offers Parent PLUS refinancing: Yes
Pros
- 0.25% autopay discount
- Up to 24 months of forbearance available over the life of the loan (one to three months duration per forbearance)
- Degree not required
Cons
- Can only refinance up to $250,000, which might not fully cover your medical school debt
- Might be hard to qualify if you have poor or fair credit
- Long cosigner release period (48 months)
ISL Education Lending
ISL Education Lending offers a variety of refinancing options — which includes being able to refinance while you’re still in school.
In addition to a standard repayment plan, ISL Education Lending provides a graduated repayment plan to borrowers who choose a 10-, 15-, or 20-year term (plus seven-year terms in some cases). This type of plan starts with low payments that gradually increase over time.
4.2
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
ISL Education Lending Student Loan Refinancing
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- Fixed APR:
6.94%+
7
- Variable APR: N/A
- Min. credit score: 670
- Loan amount: Up to $300,000
- Loan terms (years): 5, 7, 10, 15, 20
- Time to fund: Usually one business day
- Repayment options: Academic deferral, military deferral, forbearance, death/disability discharge
- Fees: None
- Discounts: Autopay
- Eligibility: Available in all 50 states
- Customer service: Email, phone
- Soft credit check: Yes
- Cosigner release: After 24 months
- Max. undergraduate loan balance: $300,000
- Max. graduate balance: $300,000
- Offers Parent PLUS loans: Yes
- Min. income: None
Pros
- 0.25% autopay discount
- Can refinance while still in school
- Graduated repayment plan available
Cons
- Rates can be higher than competing lenders
- Cosigner release period longer than some lenders (24 months)
MEFA
The Massachusetts Educational Financing Authority (MEFA) offers refinancing to borrowers who attended public or nonprofit universities.
With MEFA, you can refinance $10,000 up to your total amount of qualified education debt, which could make it a good choice if you have a large balance you want to refinance.
4.0
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
MEFA Student Loan Refinancing
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- Fixed APR:
5.5%+
- Variable APR: N/A
- Min. credit score: 670
- Loan amount: $10,000 up to the total amount
- Loan terms (years): 7, 10, 15
- Repayment options: Military deferment, loans discharged upon death or disability
- Fees: None
- Discounts: None
- Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
- Customer service: Email, phone
- Soft credit check: Yes
- Cosigner release: No
- Loan servicer: AES
- Max. Undergraduate Loan Balance: No maximum
- Max. Gradaute Loan Balance: No maximum
- Offers Parent PLUS Refinancing: Yes
Pros
- No maximum loan amount
- Competitive rates
- No application, origination, or disbursement fees
Cons
- No discounts available
- Cosigner release not offered
- Not available for students who attended for-profit colleges
PenFed
PenFed offers refinancing on loans from $7,500 to $300,000. It’s also the only lender that will allow you to consolidate your loans with your spouse.
Keep in mind that if you apply with PenFed and are approved, you’ll need to join the credit union to accept your loan.
4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
PenFed Student Loan Refinancing
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Check Personalized Rates
Checking rates won't affect your credit score
- Fixed APR:
5.49%+
- Variable APR: N/A
- Min. credit score: 670
- Loan amount: $7,500 to $300,000
- Loan terms (years): 5, 8, 12, 15
- Repayment options: Does not disclose
- Fees: None
- Discounts: None
- Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans
- Customer service: Email, phone, chat
- Soft credit check: Yes
- Cosigner release: After 12 months
- Loan servicer: PenFed
- Max. Undergraduate Loan Balance: $300,000
- Max. Graduate Loan Balance: $300,000
- Offers Parent PLUS Refinancing: Yes
Pros
- Can refinance loans with a spouse
- Cosigner release offered after just 12 months
- Interest capped on variable-rate loans
Cons
- No discounts available
- 20-year term not offered
- Minimum income of $42,000 to $50,000 required (depending on loan amount), which might make it difficult for recent graduates to qualify
RISLA
The Rhode Island Student Loan Authority (RISLA) could be a smart choice for refinancing if you’re worried about job security down the line. Unlike most private lenders, RISLA offers an income-based repayment (IBR) plan for borrowers who demonstrate financial hardship.
Additionally, if you make on-time, consecutive payments for 25 years under this IBR plan, RISLA will forgive any remaining balance you might have.
3.7
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
RISLA Student Loan Refinancing
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- Fixed APR:
5.79%+
- Variable APR: N/A
- Min. credit score: 680
- Loan amount: $7,500 to $250,000
- Loan terms (years): 5, 10, 15
- Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees: None
- Discounts: Autopay
- Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000
- Customer service: Email, phone
- Soft credit check: Does not disclose
- Cosigner release: No
- Loan servicer: Rhode Island Student Loan Authority
- Max. Undergraduate Loan Balance: $150,000 - $249,000
- Max. Graduate Loan Balance: $200,000 - $249,000
- Offers Parent PLUS Refinancing: Yes
Pros
- Income-based repayment plan available
- 0.25% autopay discount
- Can defer payments for 36 months if you decide to go back to school
Cons
- Variable rates not available
- 20-year term not offered
- Cosigner release not offered
Learn More: Federal Student Loan Repayment Options
Other student loan refinancing lenders
There are also several other lenders that will refinance student loans from medical school. However, because the lenders in the table below aren’t Credible partners, you won’t be able to use Credible to compare them.
Lender | Loan terms (years) | Max loan balance |
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5, 7, 10, 15, 20 | Undergrad: $500,000
Grad: $500,000 |
- Fixed rate:
5.44%+
- Variable rate:
5.39%+
- Min. credit score:
680
- Loan amount:
$5,000 to $500,000
- Cosigner release:
Yes
- Loan terms (years):
5, 7, 10, 15, 20
- Repayment options:
Academic deferment, forbearance, loans discharged upon death or disability
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Available in all states, except MS and NV
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Loan servicer:
FirstMark
- Max. undergraduate loan balance:
$500,000
- Max. graduate loan balance:
$500,000
- Offers Parent PLUS refinancing:
Yes
- Min. income:
$65,000 (for 15- and 20-year products)
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 10, 20 | Undergrad: $249,000
Grad: $199,000 |
- Min. credit score:
Does not disclose
- Loan amount:
Up to $250,000
- Loan terms (years):
10, 20
- Repayment options:
Academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees:
None
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone
- Soft credit check:
Does not disclose
- Cosigner release:
No
- Max. undergraduate Loan Balance:
$150,000 to $249,000
- Max. graduate Loan Balance:
$150,000 to $199,000
- Offers Parent PLUS Refinancing:
No
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5, 7, 10, 15 | Undergrad: $500,000
Grad: $500,000 |
- Rates:
fixed, variable
- Min. credit score:
Does not disclose
- Loan amount:
$60,000 to $350,000
- Cosigner release:
No
- Loan terms (years):
5, 7, 10, 15, 20
- Fees:
None
- Discounts:
Autopay, loyalty
- Eligibility:
Available in CA, CT, FL, MA, NY, OR, WY
- Customer service:
Email, phone
- Soft credit check:
Yes
- Max. undergraduate loan balance:
$500,000
- Max. graduate loan balance:
$500,000
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 10, 15, 20 | Undergrad: $249,000
Grad: $249,000 |
- Rates:
Fixed, variable
- Min. credit score:
Does not disclose
- Loan amount:
$10,000 to $250,000
- Cosigner release:
After 24 to 36 months
- Loan terms (years):
10, 15, 20
- Repayment options:
Military deferment, forbearance
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Loan servicer:
Student Loan Finance Corporation
- Max. undergraduate Loan Balance:
$150,000 to $249,000
- Max. graduate Loan Balance:
$200,000 to $249,000
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5, 7, 10, 15 | Undergrad: None
Grad: None |
- Min. credit score:
Does not disclose
- Loan amount:
$5,000 to $300,000
- Cosigner release:
Does not disclose
- Loan terms (years):
5, 7, 10, 15
- Repayment options:
Immediate repayment, forbearance, loans discharged upon death or disability
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone
- Soft credit check:
Yes
- Max. undergraduate Loan Balance:
No maximum
- Max. graduate Loan Balance:
No maximum
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5, 10, 15 | Undergrad: $99,000
Grad: $150,000 |
- Min. credit score:
Does not disclose
- Loan amount:
Less than $150,000
- Loan terms (years):
5, 10, 15
- Repayment options:
Academic deferment, military deferment, forbearance, loans discharged upon death or disability
- Fees:
Does not disclose
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone
- Soft credit check:
Does not disclose
- Cosigner release:
Yes
- Max. Undergraduate Loan Balance:
Less than $99,000
- Max. graduate Loan Balance:
Less than $150,000
- Offers Parent PLUS Refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5, 7, 10, 15, 20 | Undergrad: No maximum
Grad: No Maximum |
- Fixed APR:
Check with lender
- Variable APR:
Check with lender
- Min. credit score:
Does not disclose
- Loan amount:
$5,000 up to the full balance
- Loan terms (years):
5, 7, 10, 15, 20
- Repayment options:
Academic deferment, military deferment
- Fees:
None
- Discounts:
Autopay, loyalty
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Cosigner release:
No
- Max undergraduate loan balance:
No maximum
- Max graduate loan balance:
No maximum
- Offers Parent PLUS refinancing:
Yes
|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| Does not disclose | Undergrad: None
Grad: None |
- Min. credit score:
Does not disclose
- Loan amount:
No maximum
- Loan terms:
Does not disclose
- Repayment options:
Academic deferment, forbearance
- Fees:
Late fee
- Discounts:
Autopay
- Eligibility:
Available in all 50 states
- Customer service:
Email, phone, chat
- Soft credit check:
Yes
- Cosigner release:
Yes
- Max. undergraduate Loan Balance:
No maximum
- Max. graduate Loan Balance:
No maximum
- Offers Parent PLUS Refinancing:
Yes
|
The lenders in this table aren't our partners. But you can use Credible to compare rates in 2 minutes from other lenders who offer student loan refinancing.
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|
How much you could save when refinancing medical school loans
If you refinance your medical school loans, you might qualify for a lower interest rate, which will save you money over the life of your loan.
However, the exact amount you could save depends on several factors — including your credit and whether you can reduce the interest rate you currently have.
You can use our calculator below to see how much you can save by refinancing your student loans.
Lifetime Savings
Increased Lifetime Cost
$
New Monthly Payment
$
Monthly Savings
Increased Monthly Cost
$
If you refinance your student loan at
%
interest rate, you
can save
will pay an additional
$
monthly and pay off your loan by
.
The total cost of the new loan will be
$.
Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.
Check Personalized Rates
Checking rates won’t affect your credit score.
Check Out:
When you should (and shouldn’t) refinance law school loans
Whether or not you should refinance your student loans will ultimately depend on your individual circumstances and financial goals.
For example, maybe you can score a lower interest rate and pay off your loans faster through refinancing. Or could qualify for student loan forgiveness on your federal student loans, which would make refinancing a bad idea.
Here are a few scenarios when refinancing your medical school loans could be a wise move:
You can get a better interest rate
If you can qualify for a lower interest rate, you could save money on interest charges over the life of your loan and even pay off your medical school debt ahead of schedule.
You want a lower monthly payment
If you opt for a longer repayment term through refinancing, you could lower your student loan payment and ease the strain on your budget.
This might be especially helpful during residency when you aren’t making as much money as you likely will later in your career. However, keep in mind that choosing a longer repayment term means you’ll pay more in interest over time.
You want to change the type of interest rate you have
Through refinancing, you can change from a fixed rate to a variable rate — or vice versa. With a fixed rate, your interest rate and payments will never change.
Variable rates often start out lower than fixed rates but might fluctuate over time. You’ll have to decide which type of rate is best for you.
And here are some situations where refinancing might not be smart:
You can’t get a better rate
If you already have a low interest rate, refinancing might not be worth it.
You have federal student loans
While you can refinance federal student loans, doing so will cost you federal protections, such as access to income-driven repayment plans and student loan forgiveness programs.
Additionally, you’ll also lose your federal benefits under the CARES Act, which has suspended federal student loan payments and interest accrual due to the COVID-19 pandemic. Payments are scheduled to restart after August 29, 2023. As such, it might be a good idea to wait to refinance federal student loans while focusing on private student loans for now.
You could qualify for student loan forgiveness
There are several student loan forgiveness programs available to doctors, nurses, and other healthcare professionals who have federal student loans. If you could qualify for one of these medical school loan forgiveness programs, refinancing probably isn’t a good idea.
Tip: Medical students who have started their residency might also qualify for refinancing. This might get you a better rate or more favorable terms, which could make your debt easier to manage.
Some lenders — such as SoFi — even offer special refinancing rates and terms for medical residents.
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Learn More: When to Refinance Student Loans
How to get the best interest rate when refinancing medical school loans
Here are a few tips that could help you get the best interest rate you can when refinancing your medical school loans:
- Improve your credit. You’ll generally need good to excellent credit to qualify for the lowest rates from lenders. If you can wait to refinance, it could be a good idea to spend some time improving your credit first to score a lower rate in the future. Some ways to potentially build your credit include becoming an authorized user on a credit card, disputing any errors on your credit reports, and making on-time payments on all of your bills.
- Consider a cosigner. If you’re looking to refinance student loans with bad credit, applying with a cosigner could be a good idea. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own. Just keep in mind that your cosigner will be equally responsible for the loan if you can’t make your payments.
- Shop around and compare lenders. Be sure to compare as many student loan refinance companies as possible to find the right loan for you. Rates vary between lenders, so considering as many options as you can could help you find a good deal.
Check Out: How to Refinance Your Student Loans
Is refinancing a good idea?
If you can lower your interest rate, get a payment that fits more comfortably in your budget, or otherwise simplify your student loan repayment, then refinancing might be a good idea.
However, it isn’t always right for everyone. You’ll need to consider your personal circumstances and financial goals to make the best decision for you.
For example: Say you have the average medical school debt of $232,300 with an 8% interest rate and a 15-year term. If you kept this loan as is, you’d pay $167,296 in interest charges by the time you paid off the loan.
However, if you refinanced to a new 15-year loan with a 7% rate — just 1% lower — you’d save $23,760 in interest over the life of your loan.
Learn More: Pharmacists Student Loan Forgiveness Guide
Will refinancing hurt your credit score?
Generally, refinancing shouldn’t hurt your credit score since your loan balances aren’t changing. You might see a slightly negative impact on your score when you apply and the lender performs a hard credit check — however, this is usually only temporary, and your score will likely bounce back within a few months.
Also keep in mind that there’s no limit on how often you can refinance student loans, meaning you could refinance again if rates drop in the future.
Tip: Refinancing lets you
consolidate your student loans, leaving you with one loan and just one payment to worry about. Additionally, you might consider refinancing your undergraduate loans to potentially save you money while you’re still in medical school.
Check Out: Student Loan Forgiveness for Nurses
More resources
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About the author
Aly J. Yale
Aly J. Yale is a mortgage and real estate authority. Her work has appeared in Forbes, Fox Business, The Motley Fool, Bankrate, The Balance, and more.
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