Student Loan for Medical School

Get an overview of your options for medical school student loans

Attending medical school has always been a privilege for the special few, those with the requisite smarts and stamina to make it through the grueling marathon that is med school and medical residency. Of course, it's also an expensive proposition. With most medical students taking on heavy debt to fund their dream, finding the best and most cost-effective student loan is essential.

Fortunately, there is plenty of financial help available for medical students. But remember: you must apply for federal student loans for medical students by filing a FAFSA, and you should first exhaust grants, scholarships and your other federal student loan options (especially Direct Stafford Loans) before tapping Federal Direct PLUS or private student loans for your graduate education, since both carry a higher interest rate than Federal Direct Stafford Loans.

Here are a few advantages of Federal Direct PLUS Loans for graduates:

There are no set limits on borrowing. You can borrow up to the full cost of attendance, minus any other financial aid you receive.
The interest rate is fixed over the entire life of the loan.
Borrowers need not be currently employed.
The federal government charges a 4% fee on the principal amount of the Direct PLUS Loan.
There is no grace period for repayment, though borrowers may obtain a deferment if enrolled at least half-time in an approved program.
You must have a good credit history, or obtain a co-signature from an endorser who does.
Interest will continue to be charged on your principal balance, even if you secure a deferment or forbearance.

Discover the benefits of a TruFit Student Loan® for medical school

At Citizens Bank, we want to help you find the financing solutions to make your educational goals a reality, so we offer the TruFit Student Loan which includes:

Competitive rates including an additional 0.50% interest rate reduction for automating payments from any eligible Citizens Bank account
Or, 0.25% interest rate reduction for automating payments from any eligible non-Citizens Bank account.
Flexible repayment terms, including the option to defer payment until after graduation
Quick, easy application process
Simple qualification¹ with minimum income requirements
Co-signer release option available after initial 36 consecutive, on-time payments²

Learn more about affordable Citizens Bank student loans for graduates

You can find helpful information about financing options from Citizens Bank including our TruFit Student Loan®, a private student loan to help fund medical school. If you still have questions, call a student loan specialist at 1-800-708-6684, and we'll help walk you through the medical school student loan process.

Additional student loan and college planning resources

Student Loans for Law School Students
Guide to Paying for Graduate School
Types of Student Loans for Graduate Students
Loans Available for MBA Students

Have student loan questions? Call our Student Services team.

1-800-708-6684

Student banking questions?

1-888-400-5670

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© Copyright 2013 RBS Citizens Financial Group, Inc. All rights reserved.
Citizens Bank is a brand name of RBS Citizens, N.A. and Citizens Bank of Pennsylvania. Deposit accounts held at RBS Citizens, N.A. and Citizens Bank of Pennsylvania are separately insured.

All loans are subject to individual approval.

1. Eligibility requirements: student must be enrolled at least half-time in a degree granting program at an eligible institution. They must be a U.S. citizen or permanent resident, or have a U.S. citizen co-signer. Student must be of legal borrowing age in their state of residence. International students can apply with a creditworthy U.S. citizen or permanent resident co-signer.

2. Subject to terms and conditions.

Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Citizens Bank TruFit Student Loan programs are offered and originated by RBS Citizens Bank, N.A. Member FDIC and Equal Opportunity Lender. RBS Citizens Bank, N.A. may sell your loan to a third party, and, in the event your loan is sold, it will use commercially reasonable means to ensure that all of its promises to you, including all borrower benefits that you might become eligible for during the loan's repayment period, will be honored. If you consolidate your loan prior to earning a benefit, you waive your right to that benefit, but you may have the ability instead to earn consolidation benefits. If you consolidate your loan after you earn a benefit, that benefit will not be retracted or forfeited.