Student Loan Refinance for Medical Residents and Fellows

$100 monthly payments while in Residency or Fellowship1

Physician-in-Training Medical School Loan Refinance

$100 monthly payments while in Residency or Fellowship1

Refinance built for doctors by doctors

No loan maximums  –  No Cosigner  –  No Capitalized Interest 

  • No loan maximums
  • No Cosigner
  • No Capitalized Interest
  • $100 monthly payments while in training

Terms:

7 Years

10 Years

15 Years

Panacea Header

Fixed APR With Autopay Discount

5.75%

5.99%

6.25%

Laurel Road

Fixed APR With Autopay Discount

5.58% – 6.10%

5.72% – 6.24%

5.94% – 6.41%

Terms includes period of lowered payments

Competitors rates accurate as of 8/9/2022 and represent fixed APR’s based on the lowest and highest advertise interest rate ranges.

Panacea Header

Fixed APR With Autopay Discount

7 Years:     5.75%

10 Years:   5.99%

15 Years:   6.25%

Laurel Road

Fixed APR With Autopay Discount

7 Years:    5.58% – 6.10%

10 years:   5.72% – 6.24%

15 Years:   5.94% – 6.41%

Competitors rates accurate as of 8/9/2022 and represent fixed APR’s based on the lowest and highest advertise interest rate ranges.

Interested in Refinancing Your Student Loans While in Training?

Panacea Financial provides the best refinancing options for doctors in residency or fellowship. Here's why.

Student Loan Refinance for Residents and Fellows

Loan Term Options

How it Works

FAQs

U.S. Citizens or permanent residents who have graduated medical or podiatry school, and have started their post-graduate training program, also known as their residency.

Yes! We recognize many would like to lower their interest rates while in training which is why we offer $100 payments while in training.

We don’t require a cosigner for a medical or podiatry school refinance loan because we know you are trustworthy and deserve to be treated like an adult. Traditional banks don’t understand that which is why they can ask for co-signers in order to offer their lowest rates.

When you refinance your medical school loans in training you get 3 years of $100/month payments that you can choose to refinance one additional time and get 3 more years of $100/month payments. Also note that your years in lowered payment count towards your total length of repayment term.

The competition takes interest that accrues during the “lower payment” month and then adds it back to your principal (ie capitalized interest) which causes you to pay interest now on a higher balance. We do NOT do that and that saves you money. At Panacea the balance you have left over at the end of your $100/month period is simply spread out (or amortized) over the rest of your repayment period.

We are a doctor-founded company that personally knows how different our financial lives can be. That is why we made products equally as different which includes our medical and podiatry school refinance loan that has no maximums, no co-signer requirement, and no capitalized interest.

$100 monthly payments while in training!

Whatever you need, Panacea Financial helps you get loans fast.
Here’s to better financial solutions for Doctors in training.

Learn More About Med School Refinancing

Explore our collection of advice and tools to help physicians better position themselves for career and financial success.

$100 monthly payments while in training!1

Whatever you need, Panacea Financial helps you get loans fast. Here’s to better financial solutions for physicians in training.

If you are looking to refinance federally held student loans please be aware of recent legislative changes that have suspended payments and waived interest on such loans until the beginning of August 2022 to COVID-19. Please carefully consider these changes before refinancing federally held loans with Panacea Financial as in doing so you will no longer qualify for these changes or other future benefits applicable to federally held loans.

1. Time of reduced payments at $100 selected at time of loan origination, up to three years. Borrowers can request extended period of reduced payments if their training continues.

Doctor–In-Training Loan Refinance payment schedule examples:

7 year Reduced Payment Options:

7 year (84 months) fixed rate, $250,000 at 5.75% (5.70% APR): Months 1 -12 @ $100.00 per month, Months 13-84 @ $4,328.57 per month;

7 year (84 months) fixed rate, $250,000 at 5.75% (5.59% APR): Months 1 -24 @ $100.00 per month, Months 25-84 @ $5,302.63 per month;

7 year (84 months) fixed rate, $250,000  at 5.75% (5.46% APR): Months 1 -36 @ $100.00 per month, Months 37-84 @ $6,749.94 per month;

10 year Reduced Payment Options:

10 year (120 months) fixed rate, $250,000 at 5.99% (5.94% APR): Months 1 -12 @ $100.00 per month, Months 13-120 @ $3,162.94 per month;

10 year (120 months) fixed rate, $250,000 at 5.99% (5.84% APR): Months 1 -24 @ $100.00 per month, Months 25-120 @ $3,635.86 per month;

10 year (120 months) fixed rate, $250,000 at 5.99% (5.71% APR): Months 1 -36 @ $100.00 per month, Months 37-120 @ $4,233.73 per month;

15 year Reduced Payment Options:

15 year (180 months) fixed rate, $250,000 at 6.25% (6.20% APR): Months 1 -12 @ $100.00 per month, Months 13-180 @ $2361.57 per month;

15 year (180 months) fixed rate, $250,000 at 6.25% (6.09% APR): Months 1 -24 @ $100.00 per month, Months 25-180 @ $2,600.51 per month;

15 year (180 months) fixed rate, $250,000 at 6.25% (5.96% APR): Months 1 -36 @ $100.00 per month, Months 37-180 @ $2,870.70 per month;

All associated discounts applied to Panacea and competitor rates and terms. All Panacea APRs assume a 0.50% discount to auto-pay from a Panacea Checking account. We offer a 0.25% discount to auto-pay from a non-Panacea checking account.

2. See the Refinance Application Disclosure for product information, rates, fees and other important product information.

3. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

Product Details & Requirements