Medical School Loan Refinance

Finally, refinance designed for doctors — transparent rates, no maximums, no cosigner, and we won’t sell your loan.

Are you a Physician-in-training?

Get $100 monthly payments while in Residency or Fellowship!

We know training can be unpredictable. Choose up to 3 years of reduced payments, with an option to extend for another 3 years.

  • No loan maximums
  • No Cosigner
  • No Capitalized Interest

Know Your Rates Before You Apply

Four fixed rates to choose from – no guessing, no bait and switch, no wasted time on a pre-application to find your rate.
Refi graph Medical
Competitors rates accurate as of 09/01/2021 and represent fixed APR's based on the lowest and highest advertise interest rate ranges.
Refi graph mobile
Competitors rates accurate as of 09/01/2021 and represent fixed APR's based on the lowest and highest advertise interest rate ranges.

Refinancing is Better with Panacea

See how Panacea medical student loan refinancing compares to the competition.

Know Your Rate Now

Forget “finding your rate” – with Panacea you know exactly what your rate is before you apply.

One Bank, No Handoff

Our loans are serviced entirely in house – simplify your life with one bank, built for doctors.

Refinance for Doctors

Specifically crafted for student loan debt incurred to become a doctor. 

The Panacea Difference

Transparent Rates
No
Maximum
In-House Servicing
24/7 Concierge Desk
Primary Care Banker

The "Other Guys"

(SoFi, Laurel Road, Commonbond)
Must Apply
For Rates
Hidden Maximum
Outsourced Servicing
Limited Bankers Hours
No Personal Service

The
Panacea
Difference

Transparent
Rates
No
Maximum
In-House
Servicing
24/7
Concierge Desk
Primary Care
Banker

Their
Traditional
Approach

Must Apply
for Rates
Hidden
Maximum
Outsourced
Servicing
Limited
Bankers Hours
No Personal
Service

Medical Student Loan Refinance

Loan Term Options

Example scenarios

Medical School Loan Refinance Calculator

Quickly calculate your monthly medical school loan payment amount by entering your loan amount and selecting a refinance term and rate. Then compare that to your current loan payments and timeline to see how Panacea can help!

Visit studentaid.gov to find out benefits and repayment options available to federal student loan borrowers before refinancing.

  • 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 end of January 2021 due 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. 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. Student Loan Refinance payment schedule examples: 5 year fixed rate, $300,000 at 2.75% APR is $5357.87 per month; 7 year fixed rate, $300,000 at 3.00% APR is $3,964.25 per month; 10 year fixed rate, $300,000 at 3.25% APR is $2,931.87.40 per month; 15 year fixed rate, $300,000 at 3.50% APR is $2,145.00 per month.
  • 2. Adverse Credit Event: accounts with a total outstanding balance greater than $2,085 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.
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3. See the Medical School Refinance Application Disclosure for product information, rates, fees and other important product information.

4. Calculator is for informational purposes only, actual payments may differ slightly based on when the loan is closed and when first payment date is scheduled. Refer to loan documents for exact payment.

Here’s to better financial solutions for doctors

Product Details & Requirements

Example Scenarios:
Medical School Loan Refinance

The following example is an attending physician with federal student loans in the standard repayment plan and assumes $300,000 principal amount, a 7.20% interest rate, and a 20-yr amortization.

Dr. Patel recently completed her residency program and has a goal to pay off her student loans as quickly as possible by continuing to live on her resident salary and putting the extra income towards a new 5-year loan with a 2.75% fixed APR.

Note: The physician in this example was not part of an Income Driven Repayment or a forgiveness plan and understood the potential benefits of staying in the federal system but were interested in taking out a private loan to refinance their federal debt. 

Example Scenarios:
Medical School Loan Refinance

The following example is an attending physician with federal student loans in the standard repayment plan and assumes $300,000 principal amount, a 7.20% interest rate, and a 20-yr amortization.

Dr. Jones recently completed his fellowship and wants to pay off his loans quickly while continuing to live on a fellow’s budget. He puts extra income towards a new 7-year loan with a 3.00% fixed APR.

Note: The physician in this example was not part of an Income Driven Repayment or a forgiveness plan and understood the potential benefits of staying in the federal system but were interested in taking out a private loan to refinance their federal debt.

Example Scenarios:
Medical School Loan Refinance

The following example is an attending physician with federal student loans in the standard repayment plan and assumes $300,000 principal amount, a 7.20% interest rate, and a 20-yr amortization.

Dr. Lewis is an attending physician who wants to lower the interest rate on her student loans and pay less over the life of the loan. She decides to refinance a new 10-year loan with a 3.25% fixed APR.

Note: The physician in this example was not part of an Income Driven Repayment or a forgiveness plan and understood the potential benefits of staying in the federal system but were interested in taking out a private loan to refinance their federal debt. 

Example Scenarios:
Medical School Loan Refinance

The following example is an attending physician with federal student loans in the standard repayment plan and assumes $300,000 principal amount, a 7.20% interest rate, and a 20-yr amortization.

Dr. Williams completed her residency program a few years ago and desired to keep her monthly payments towards her student loans the same, while also lowering the total cost of the loan. She decided to refinance her student debt into a lower interest rate with a new 15 year loan at a 3.50% fixed APR.

Note: The physician in this example was not part of an Income Driven Repayment or a forgiveness plan and understood the potential benefits of staying in the federal system but were interested in taking out a private loan to refinance their federal debt.