Top 5 Most Competitive Private Loans for Medical School Today

Medical school costs a pretty penny, and let’s face it, you’ll be in school for a while.According to the Association of American Medical Colleges, the average cost of tuition, fees, and insurance for the academic year 2025-26 for first-year, public, non-resident students was $68,032 — not counting living expenses.And that’s just the first year.It’s no wonder becoming a doctor easily means having more than six figures of debt.

After taking advantage of all your federal student loan repayment options, you might need to take out additional private loans to cover the rest.Here are five private loans for medical school you should know about.1.Sallie Mae Medical School Loan One option to consider is the Sallie Mae Medical School Loan, which offers borrowers up to 100% coverage for their funding needs.

In other words, you can borrow up to the total cost of attendance.There are variable rates and fixed-rate options available, with a discount APR of 0.25% for using auto-pay.An advantage of this loan is it has a 20-year repayment term available, so you’ll have time to pay it all back.There are also no prepayment penalties.

You also have three repayment plans while in school.You can either defer, pay $25 per month while in school or make interest-only payments.As a private lender, Sallie Mae allows up to 12 interest-only payments after your grace period and up to 48 months of deferment during residency and fellowship.Additionally, it provides a four-year grace period to support your medical career.

However, payments may be required during the grace period depending on your original selected in-school repayment option.This loan has no origination fee and offers cosigner release.It advertises competitive interest rates.However, federal Direct loans offer protections such as income-driven repayment and student loan forgiveness such as Public Service Loan Forgiveness (PSLF) that can be worth the cost.

The lender also offers a medical residency and relocation loan to help cover costs associated with being in residency.Splash Financial 2.Citizens Student Loan Another option for medical school student loans is the Citizens Student Loan for medical school.There are no application, origination or disbursement fees, and you could qualify for up to 0.50% interest rate reduction.

You can get a 0.25% loyalty discount if you already have an account with Citizens and can get another 0.25% discount for signing up with autopay.There are also fixed and variable interest rates available.You can also choose from 5-, 10- or 15-year repayment terms.These loan terms will determine the size of your loan payments and aggregate costs of the life of the loan.

If you have limited credit, having a cosigner may be in order.Luckily, they provide cosigner release after three years of positive repayment.You can borrow up to 100% of the certified cost of attendance less any financial aid received from the school.  Citizens Fixed interest rates starting at 3.24% APR1Variable interest rates starting at 4.99% APR1Terms: 5, 10 or 15 yearsLoan amounts: Up to $150,000 for undergrad studentsAutopay discount: Yes 1 Rates displayed include Automatic Payment and Loyalty Discounts, where applicable.Note that such discounts do not apply while loans are in deferment.

The lenders on the Credible.com platform offer fixed rates ranging from 2.65% – 17.99% APR and Variable interest rates from 3.50% – 17.99% APR.Variable rates will fluctuate over the term of the borrower's loan with changes in the Index rate.The Index will be either LIBOR or SOFR.Rates are subject to change at any time without notice.

Your actual rate may be different from the rates advertised and/or shown above and will be based on factors such as the term of your loan, your financial history (including your cosigner’s (if any) financial history) and the degree you are in the process of achieving or have achieved.While not always the case, lower rates typically require creditworthy applicants with creditworthy co-signers, graduate degrees, and shorter repayment terms (terms vary by lender and can range from 5-20 years) and include Automatic Payment and Loyalty discounts, where applicable.Loyalty and Automatic Payment discount requirements as well as Lender terms and conditions will vary by lender and therefore, reading each lender’s disclosures is important.Additionally, lenders may have loan minimum and maximum requirements, degree requirements, educational institution requirements, citizenship and residency requirements as well as other lender-specific requirements.

Lenders will conduct a hard credit pull when you submit your application.Hard credit pulls will have an impact on your credit score.Additional terms apply.See Credible terms.

Read rates and terms at Credible.com.3.Ascent Medical School Loan Ascent medical school loans are available for a wide variety of specialties, including optometry, osteopathic, podiatric and veterinary medicine.Choose between competitive fixed- and variable-rate options with flexible in-school repayments plans, such as deferred payments for up to 36 months after leaving school, $25 minimum repayment and interest-only repayment.

Ascent also offers a generous grace period of up to 36 months after graduation, leaving the program or dropping below half-time enrollment status.It also provides other exclusive borrower benefits, such as 1% cashback graduation reward and a referral bonus.Ascent Fixed interest rates: Starting at 2.69% APRVariable interest rates: Starting at 3.68% APRTerms: 5, 7, 10, 12, 15 or 20 yearsLoan amounts: Up to the full cost of attendanceAutopay discount: Yes Ascent's undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC.Loan products may not be available in certain jurisdictions.

Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. See disclosures.4.Medical School Loan with College Ave College Ave offers private loans for medical school with repayment terms ranging from five to 15 years, with options for 8-, 10- and 15-year repayment.It also gives you flexibility to make full payments, interest-only payments or $25 flat payments while in school.

However, in-school repayments aren't required.Additionally, you'll have the option to fully defer payments during residency and fellowship.College Ave makes it easy to apply, boasting a three-minute online application with an instant credit decision.College Ave Fixed interest rates starting at 2.84% APR (1)Variable interest rates starting at 3.89% APR (1)Terms: 5, 8, 10 or 15 yearsLoan amounts: Up to the full cost of attendanceAutopay discount: Yes Disclosures: College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC.

All loans are subject to individual approval and adherence to underwriting guidelines.Program restrictions, other terms, and conditions apply.(1)All rates include the auto-pay discount.The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments.

If a payment is returned, you will lose this benefit.Variable rates may increase after consummation.(2)As certified by your school and less any other financial aid you might receive.Minimum $1,000.

(3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38.Loans will never have a full principal and interest monthly payment of less than $50.Your actual rates and repayment terms may vary.  Information advertised valid as of 03/23/26.

Variable interest rates may increase after consummation.Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.5.Earnest Medical School Loan A medical school loan with Earnest offers competitive rates with a rate match guarantee.

Choose between four repayment options while in school and ultra-flexible loan terms to help achieve your ideal monthly payment.You'll also qualify to defer payments while you complete your residency or internship.Additionally, Earnest offers a 9-month grace period and the option to skip one payment every 12 months.Generally, Earnest requires a minimum FICO score of 650 with at least three years of good credit history to qualify.

Earnest Fixed interest rates starting at 2.79% APR1 for qualified cosigner borrowers (4.49% APR1 for qualified primary borrowers)Variable interest rates starting at 4.99% APR1Terms: 5, 7, 10, 12 or 15 yearsLoan amounts: Up to the full cost of attendanceAutopay2 discount: Yes 1 Actual rate and available repayment terms will vary based on your financial profile.Fixed annual percentage rates (APR) range from 3.04% to 16.74% (2.79% – 16.49% with auto pay discount).Variable annual percentage rates (APR) range from 5.24% to 17.10% (4.99% – 16.85% with auto pay discount).Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York.

The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent.The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time.Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our .25% auto pay discount from a checking or savings account.Enrolling in autopay is not required as a condition for approval.

2 You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account.The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay.Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction.For multi-party loans, only one party may enroll in Auto Pay.

It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC.One American Bank, 515 S.Minnesota Ave, Sioux Falls, SD 57104.

Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H.Ogawa Plaza, Suite 340, Oakland 94612.NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.

© 2025 Earnest LLC.All rights reserved.See Earnest disclosures.What to consider before taking out private loans for medical school If you’re looking for the best loans for med school, these three options are a good start.

However, there are considerations when deciding between a private vs.federal student loan for medical school.Private student loans don’t offer the same protections as federal student loans from the U.S.Department of Education.

You won’t have as many repayment programs, including access to income-driven repayment plans, Public Service Loan Forgiveness or any other type of student loan forgiveness.Forbearance may be available but not as generous.You will need to borrow a large sum of money for medical school, so having federal income-driven repayment or loan forgiveness programs could be a lifesaver in the future.You’ll also want to look into local, state or federal scholarships and grants to help fund medical school.

If you need medical school student loans, research types of loans and check out the interest rate, repayment term and monthly payments.You can use the above links to apply through our referral partners.Empower yourself with information and be an informed borrower, especially if you’re taking out six figures or more in student loans.Understand all of your loan options and how fixed interest rates or variable interest rates will impact total loan costs and interest payments.

Then you can start the application process.If you opt for medical student loans from a private lender, the good news is there's less of a risk to refinance the loan later, and you can obtain the lowest rates.