Compare the Best Medical School Loans for 2026
Written by
Written by
Senior editor
Richard Richtmyer is a senior editor with over 20 years of experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.
Written by
Senior editor
Richard Richtmyer is a senior editor with over 20 years of experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.
Edited by
Written by
Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.
Written by
Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.
Updated October 21, 2026
Medical school is expensive, and with grad PLUS loans being phased out, federal aid may not cover all the costs. Private medical school loans can help bridge that shortfall. Compare personalized rates from top lenders to find the right financing for your education.
Top private student loan lenders
Ad
Lender Highlights:
- Multiple repayment terms
- Up to 100% of school-certified costs
- 0.25% autopay discount
Lender Highlights:
- Up to 100% of school-certified costs
- Non-citizens eligible with a cosigner
- Cosigner release after 12 payments
| Fixed APR | Variable APR | Degrees amount | ||
|---|---|---|---|---|
1.99%-17.50% | 3.65%-16.61% | Compare Rates on Credible | ||
2.05%-17.99% | 3.89%-17.99% | |||
2.08%-16.58% | 3.50%-16.18% | Compare Rates on Credible | ||
2.19%-17.49% | 3.75%-16.95% | |||
2.49%-10.91% | 5.81%-9.76% | Compare Rates on Credible | ||
2.99%-15.99% | 4.64%-15.99% | |||
3.24%-14.48% | 5.04%-14.16% | Compare Rates on Credible | ||
3.35%-17.17% | 3.65%-17.32% | Compare Rates on Credible | ||
4.95%-8.90% | n/a MEFA only offers fixed rates | Compare Rates on Credible | ||
4.98%-8.98% | 5.78%-10.08% | Compare Rates on Credible | ||
A closer look at the best student loans for medical school
Finding the right loan can save you thousands of dollars over the course of your medical career and residency. Explore the top medical school lenders to compare rates, terms, and cosigner requirements.
Ascent: Best for No-Cosigner Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
1.99 - 17.50%
Variable APR
3.65 - 16.61%
Loan Amount
$2,001 to $400,000
Term
5, 7, 10, 12, 15, 20
Our take
Ascent stands out for offering private student loans to students without a cosigner and who have limited credit. Its Outcomes-Based Loan uses factors such as academic performance and graduation timeline instead of credit to determine eligibility. Students can also qualify for a cash-back graduation reward and choose from a wide range of repayment plans.
College Ave: Best for Extended Grace Periods
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.05 - 17.99%
Variable APR
3.89 - 17.99%
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 8, 10, 15 (20 for health professionals)
Our take
College Ave offers a wide range of borrower-controlled features that make it especially compelling for those who want predictability and planning power with their student loans. From 5- to 20-year terms and multiple in-school payment options to profession-specific grace periods, College Ave offers more structure and flexibility than many of its competitors.
Elfi: Best for flexible repayment
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
680
Fixed APR
2.99 - 12.85%
Variable APR
6.75 - 13.05%
Loan Amount
$1,000 up to cost of attendance
Term
5, 7, 10, 15
Our take
ELFI stands out for offering a broad range of repayment terms — 5, 7, 10, or 15 years — so you can tailor your loan to fit your budget and timeline. Whether you want to pay off your loan quickly or stretch payments over time, ELFI gives you the tools to choose. This flexibility makes it a strong option if you're seeking maximum control over your repayment plan.
Abe: Best for Payment Relief Options
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Mid-600s
Fixed APR
2.08 - 16.58%
Variable APR
3.50 - 16.18%
Loan Amount
$1,000 up to school-certified cost of attendance (aggregate $300,000 limit for an undergraduate loan, $350,000 limit for a graduate or graduate certificate loan)
Term
5, 7, 10, 15, 20
Our take
Few private lenders match the borrower protections Abe® offers. You'll find options like in-school default protection, extended grace periods, and multiple types of forbearance — including for job loss and illness. These features make Abe an especially good fit for students who want a safety net during unpredictable times.
Sallie Mae: Best for Specialized Loans
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.19 - 17.49%
Variable APR
3.75 - 16.95%
Loan Amount
$1,000 up to 100% of school-certified cost of attendance
Term
10 - 20
Our take
Sallie Mae stands out from the competition with one of the broadest selections of specialized private student loans on the market, including a new parent loan option introduced in 2026 that adds a private alternative to parent PLUS as federal borrowing caps tighten.
SoFi: Best for Member Perks
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Does not disclose
Fixed APR
2.99 - 15.99%
Variable APR
4.64 - 15.99%
Loan Amount
$1,000 to $100,000
Term
5, 7, 10, 15
Our take
SoFi offers borrower-friendly benefits rarely seen among student loan lenders. Perks include cash back for strong grades, a loyalty discount on future loans, and cosigner release after just 12 months. With flexible terms and competitive rates, SoFi is a standout option for students seeking long-term value.
Citizens: Best for Multiyear Approval
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
640
Fixed APR
3.24 - 14.48%
Variable APR
5.04 - 14.16%
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 7, 10, 12, 15
Our take
Citizens could be a great fit for borrowers who already bank with the lender and want to save more on their student loans. Customers can lower their interest rate by 0.25 percentage points with a loyalty discount, and by another 0.25 percentage points for enrolling in autopay. Citizens also offers multiyear approval, making it easier to get additional loans without repeated hard credit checks.
Nelnet Bank: Best for Competitive Rates
To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.
Min. Credit Score
Mid to high 600’s FICO
Fixed APR
2.49 - 10.91%
Variable APR
5.81 - 9.76%
Loan Amount
$1,000 to $500,000
Term
5, 10, 15
Our take
Nelnet Bank stands out among private student loan lenders for offering low starting rates and high loan limits across undergraduate, graduate, and health professional programs. You can qualify for a Nelnet Bank student loan with mid-600s credit or apply with a cosigner to improve your chances of approval and secure a better rate.
In some cases, private medical school loan interest rates could be lower than federal student loan rates for well-qualified borrowers, but you'll sacrifice access to federal protections.
Grad PLUS loan elimination: What medical students need to know
As of July 1, 2026, grad PLUS loans are no longer available for new graduate and professional students, including medical students.
For years, grad PLUS student loans for medical school allowed students to borrow as much as their schools’ full cost of attendance after reaching Direct Unsubsidized Loan borrowing limits. Considering the high cost of a medical education, the grad PLUS loan program has been a critical funding source for many students — often reducing the need for private medical school loans.
Beginning in the 2026-27 academic year:
- Students can no longer borrow up to the full cost of attendance with grad PLUS loans for medical school.
- Other federal student loans for medical school will be subject to new annual and lifetime caps.
New federal student loan limits after July 2026
New Direct Unsubsidized Loans taken out after July 1, 2026, are capped at:
- $50,000 per year
- $200,000 lifetime maximum
These limits replace the prior ability to borrow unlimited grad PLUS funds up to your school-certified cost of attendance.
Exception for current medical students with federal student loans
A legacy provision applies to current borrowers. If you’ve already taken out federal student loans for medical school before the 2026-27 academic year, you may be able to continue accessing grad PLUS funding under the old rules for three years or until you graduate, whichever is sooner, provided you meet federal eligibility requirements.
What are medical school loans?
Medical school student loans help future doctors pay for their education. They come in two main forms: federal student loans and private student loans.
Federal loans — including Direct Unsubsidized Loans and grad PLUS loans — are issued by the U.S. Department of Education. They have fixed interest rates that are the same for all borrowers and come with protections like income-driven repayment, deferment, and possible loan forgiveness.
Private loans are offered by banks, credit unions, and online lenders. These loans are credit-based and can help cover remaining costs after federal aid is exhausted. For students in high-cost medical programs, private loans may be essential to fully cover tuition, living expenses, and all other costs involved.
Federal vs. private medical school loans
Before borrowing for medical school, it's important to understand how federal and private student loans differ. Each type has unique advantages and limitations, from how interest rates are set to repayment flexibility and forgiveness options. This side-by-side comparison can help you decide which best fits your financial situation:
Student loan calculator
Enter student loan details to estimate the monthly payment, interest costs, and total amount you'll pay over the repayment term.
Checking rates won’t affect your credit score
Borrowing limits for medical school
Federal loan limits (2026-27 school year)
- Direct Unsubsidized Loans: $50,000/year; $200,000 total
- Grad PLUS loans no longer available for new borrowers; continued access for existing borrowers under full cost-of-attendance cap
Private med school loan limits
Most lenders allow you to borrow as much as your school’s certified cost of attendance with private medical school loans. Some set high lifetime limits for medical students.
Eligibility for private medical school loans
To qualify for private medical school loans, you typically need:
- Good credit score (mid-to-high 600s or higher)
- Verifiable income
- Low debt-to-income (DTI) ratio, ideally under 36%
- Enrollment in an eligible medical program
If you don't meet these requirements on your own, applying with a cosigner could help improve your chances of approval.
How medical school loan interest works
Interest on most medical school loans begins accruing as soon as the funds are disbursed, even if you're still in school or completing your residency. With federal student loans, the interest rate is fixed and doesn't depend on your credit, offering predictability throughout the life of the loan. Private lenders may offer either fixed or variable interest rates, and your rate is typically determined by your credit history or your cosigner's qualifications.
Many private lenders provide deferment options during residency, allowing you to postpone full repayment. However, even during deferment, interest usually continues to accumulate. Making interest-only payments while in school or during residency can significantly reduce the total cost of your loan over time.
Private medical school loan pros and cons
Pros
- May offer lower interest rates than federal loans for strong applicants
- Higher borrowing limits
- No federal loan origination fees
- More flexible application timeline
Cons
- Excellent credit or a cosigner needed to get low rates
- No access to federal benefits or protections
- Can lead to borrowing more than you need
- No forgiveness programs
Private loans can be a good resource for medical students who need to borrow beyond federal limits or who qualify for competitive interest rates based on their credit. However, they aren't the right fit for everyone.
How to apply for a medical school loan with Credible
1. Get prequalified rates
With Credible, you can compare rates from multiple private lenders at once, without hurting your credit. Simply enter your personal information, then receive an overview of your estimated rates and terms from different lenders you qualify with.
2. Compare private lenders
Research each lender to compare key features and choose the best medical school loan for your needs. Consider interest rates, repayment options, fees, member benefits, and customer reviews.
3. Select your loan
After narrowing down your list of private lenders, choose the loan option that best suits your needs. Also consider whether you'll add a cosigner to the loan. If so, you'll need to gather some information from your cosigner to complete the next step.
4. Submit an application
Gather the necessary documentation to apply. This may include a government-issued ID, pay stubs, tax records, and more. Fill out the private loan application, provide the requested documentation, sign, and submit.
How to reduce the amount you need to borrow for medical school
Medical school is a major investment, but there are smart strategies that can help you minimize how much you need to borrow. Through financial aid, smart budgeting, and alternative funding opportunities, you can borrow less. Consider the following options:
- Apply for scholarships and fellowships specifically for medical students.
- Consider working part-time or participating in paid research opportunities.
- Explore service-based programs such as the National Health Service Corps (NHSC) or military health scholarships that offer funding in exchange for service commitments.
- Live frugally to lower your day-to-day expenses and avoid unnecessary borrowing.
- Start at a less expensive school or aim to qualify for in-state tuition to reduce overall education costs.
FAQ
Can medical students still use grad PLUS in 2026?
Open
Do I pay med school loans while I’m still enrolled?
Open
How much in federal student loans can medical students get after grad PLUS ends?
Open
Should medical students use private loans after federal limits are reached?
Open
Will federal medical student loans cover the full cost?
Open
How do I compare private lenders for medical school loans?
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How long does it take to pay off medical school debt?
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When should I apply for a private medical school loan?
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Why Credible?
Methodology
To determine the best student loan lenders, Credible collected more than 1,000 lender data points and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.
- Repayment options: 30%
- Eligibility: 25%
- Interest rates: 20%
- Loan terms: 15%
- Customer support: 10%
While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.
Learn more about our methodology.
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