- Apply in three minutes and get an instant credit decision
- Cover 100% of the costs1 associated with medical and veterinary school2
- No application fees, origination fees, or prepayment penalties
- Option to fully defer repayment during residency and fellowship
Here are our current medical school loan interest rates:
Variable rates
3.89%
to 15.99% APR
Fixed rates
2.49%
to 15.99% APR
(all rates shown include auto-pay discount)2
Should I Choose a Variable or Fixed Rate?
You’re dedicated to taking care of others, and we’re dedicated to you. We start with great rates, let you decide how quickly you pay back your loans for medical and veterinary school, and back it all up with superior service. Read about our variable and fixed interest rate options3 for your medical or veterinary school loan.
Variable Rate
3.89%
to 15.99% APR
*all rates shown include auto-pay discount3
Variable interest rates are tied to a market index and will fluctuate - up or down - over time with the market. This will change your monthly payment amount.
Changes to the rate are typically based on a publicly available interest rate index such as the prime rate or SOFR.
Fixed Rate
2.49%
to 15.99% APR
*all rates shown include auto-pay discount3
Fixed interest rates stay the same for the entire repayment period. You will have the same monthly payment amount every month after entering full repayment.
How Does Our Medical & Veterinary School Loan Compare?
| College Ave | Sallie Mae | Citizens Bank | |
|---|---|---|---|
| Number of Repayment Options |
4 |
3 | 3 |
| Select Your Own Repayment Term |
|
Limited | Limited |
| Apply in as Little as 3 Minutes |
|
|
|
| Grace Period | 36 months | 36 months | 6 months |
| Deferment during Residency/Fellowship |
|
|
|
*Comparisons based on information obtained on lenders’ websites as of January 28th, 2026.
Need one less worry while you prepare to start your residency?
The College Ave Medical Residency & Relocation Loan can help with moving expenses and everyday living costs for recent medical school graduates.
Overwhelmed? Don't Be! Just Follow These Easy Steps
1
Evaluate your graduate school program length, timing, along with your credit score and financial situation.
Understand your current financial standing, including your credit score and any existing debt. Consider how long you plan to be in graduate school and how much you can comfortably borrow. Graduates students can apply to cover their full program year, giving you confidence grad school is covered.
2
Weigh the importance of loan repayment terms, grace periods and deferment.
When deciding to go to graduate school, you will need to find a loan that fits your program. College Ave offers graduate loans structured for your degree, like deferment while in residency, clerkship or fellowship.
3
Compare interest rates from private lenders and evaluate originations fees.
Compare rates from lenders and be sure to consider any origination fees that may be associated with taking a loan. Taking the time to compare lenders side by side can help you feel confident you're choosing the best option for your financial goals, with fewer surprises down the road.
4
Take the Next Step in Your Career with College Ave
Ensure your graduate school is fully covered with a private student loan from College Ave. Once approved, we’ll work directly with your school to certify the loan, making it an easy process and setting you up for success.
1
Evaluate your graduate school program length, timing, along with your credit score and financial situation.
Understand your current financial standing, including your credit score and any existing debt. Consider how long you plan to be in graduate school and how much you can comfortably borrow. Graduates students can apply to cover their full program year, giving you confidence grad school is covered.
2
Weigh the importance of loan repayment terms, grace periods and deferment.
When deciding to go to graduate school, you will need to find a loan that fits your program. College Ave offers graduate loans structured for your degree, like deferment while in residency, clerkship or fellowship.
3
Compare interest rates from private lenders and evaluate originations fees.
Compare rates from lenders and be sure to consider any origination fees that may be associated with taking a loan. Taking the time to compare lenders side by side can help you feel confident you're choosing the best option for your financial goals, with fewer surprises down the road.
4
Take the Next Step in Your Career with College Ave
Ensure your graduate school is fully covered with a private student loan from College Ave. Once approved, we’ll work directly with your school to certify the loan, making it an easy process and setting you up for success.
FAQ's for Medical & Veterinary School Student Loans
-
How much can I borrow in student loans for Medical and Veterinary school?
The answer is, "it depends". It depends on whether you're taking out a federal student loan or a private student loan for school.
As of July 1, 2026, new Medical or Veterinary school students can take out up to $50,000 in Federal Direct Unsubsidized Loans each year they're in school with a lifetime/aggregate limit of $200,000.
Federal Direct PLUS loans for graduate school (also referred to as Grad PLUS loans) do not have an annual cap, you can borrow up to your cost of attendance each year. However, Grad PLUS loans are being eliminated from the federal student loan program as of July 1, 2026, with the passage of new legislation in July 2025 (also referred to as the "One Big Beautiful Bill").
If you're taking out a private medical or veterinary school student loan, the maximum amount you can borrow may depend on the lender. College Ave's medical and veterinary student loan allow you to borrow up to the total cost of attendance1 for medical or veterinary school, minus any federal loans, grants, scholarships, and other aid you may have received.
-
What is the difference between a Medical & Veterinary School Loan and a Health Professions Loan?
College Ave's Medical & Veterinary School Loan is designed for students enrolled in one of the following degree programs: Doctor of Medicine (MD), Osteopathic Medicine (DO), Veterinary Medicine (DVM, VMD), or Podiatric Medicine (PM).
Our Health Professions Loan is designed for students pursuing other professional health degrees, such as: Physician's Assistant/Associate degree (PA), Registered Nurse Practitioner (RNP), Occupational Therapy (OT), Physical Therapy (PT), among others.
-
What's the difference between a federal and private student loan?
Federal loans are funded by the federal government and offer a fixed interest rate and income-driven repayment options but may not cover all your costs. Private loans, offered from private banks and lenders, offer additional funding if federal aid isn't enough.
-
How much can I borrow for medical or veterinary school?
Graduate students - including those enrolled in medical or veterinary school - can take out up to $20,500 Federal Direct subsidized loans every year of school.
Private medical school loans (like College Ave's Medical & Veterinary Loan option) allow you to borrow up to 100% of your cost of attendance, minus any federal aid.5 Remember to borrow responsibly and to exhaust all other “free” opportunities for money such as scholarships and grants.
-
Do I have to make payments while in school?
While you do not need to make payments while in school, borrowers who choose to make in-school payments (like interest-only or flat $25/month) may receive lower interest rates and save significantly on total loan cost.
Footnotes
1
As certified by your school and less any other financial aid you might receive. Minimum $1,000. Maximum $200,000.
2
You must be enrolled in a Doctor of Medicine (MD), Osteopathic Medicine (DO), Veterinary Medicine (DVM, VMD), or Podiatric Medicine (PM) degree program at an eligible school to qualify for the College Ave Student Loans Medical School Loan.
3
Variable rates may increase after consummation. 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. 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.
4
This informational repayment example uses typical loan terms for a first year medical school student 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 6.09% fixed Annual Percentage Rate ("APR"): 84 monthly payments of $25 while in school, followed by 96 monthly payments of $167.28 while in the repayment period, for a total amount of payments of $18,158.81. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
5
This informational repayment example uses typical loan terms for a first-year medical school student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 5.97% fixed Annual Percentage Rate ("APR"): 120 monthly payments of $168.15 while in the repayment period, for a total amount of payments of $20,177.45. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.