Medical Student Loan Refinance - Coming Soon

Finally, refinance designed for doctors — transparent rates, no maximums, no cosigner, and we won’t sell your loan.
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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.
Panacea Refinance Rate Compare
Competitors rates accurate as of 11/30/2020 and represent fixed APR's based on the lowest and highest advertise interest rate ranges.
Panacea Refinance Rate Compare
Competitors rates accurate as of 11/30/2020 and represent fixed APR's based on the lowest and highest advertise interest rate ranges.
Calculate your monthly payments
Is Refinancing Student Debt Right For Me?

Refinancing is Better with Panacea

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

Refinance for Doctors

Specifically crafted for student loan debt incurred to become a physician. Available to attendings now, residents/fellows in Spring 2021.

One Bank, No Handoff

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

Know Your Rate Now

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

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

  • No cosigner - you’re a grown up, be treated like one
  • No maximum - seriously, none
  • No fees - nada, zilch
  • No selling your loan - we’re with you the whole way
  • 24/7 customer service - we work doctor’s hours
  • Soft credit check - application does not affect your credit score
  • Attending refinance today - resident/fellow finance coming in 2021
View details and requirements
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Loan Term Options

3.25%  Fixed APR1
4.00% Fixed APR1
4.50% Fixed APR1
5.25% Fixed APR1

Example scenarios

5 year
7 year
10 year
15 year

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. Medical Student Loan Refinance payment schedule examples: 5 year fixed rate, $300,000 at 3.25% APR is $5424.00 per month; 7 year fixed rate, $300,000 at 4.00% APR is $4,100.64 per month; 10 year fixed rate, $300,000 at 4.50% APR is $3,109.15 per month; 15 year fixed rate, $300,000 at 5.25% APR is $2,411.63 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.
  • 3. See the Medical School Refinance Application Disclosure for product information, rates, fees and other important product information.

Here’s to better financial solutions for MDs & DOs

Get Started Today
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    Little Rock, AR 72205
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We are launching our Medical Student Loan Refinance in February, 2021 – sign up to be notified when it launches!

Product Details & Requirements

  • Attending physicians only
  • Loan fully amortized over term
  • Recent pay stub, or if you have not been paid yet, your residency / fellowship graduation certificate, and
  • Copy of contract, and
  • W2 or equivalent, and
  • No adverse credit event2
  • Minimum loan amount: $25,000; no maximum
  • Minimum credit score: 680
  • US citizenship or permanent residency

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.

1) 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 3.25% fixed APR.

  • Monthly payments increased from $2,237 --> $5,424
  • Reduced life of loan cost from $536,813 --> $325,444
  • Paid off 15 years sooner and saved $211,369

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.

1) 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 4.00% fixed APR.

  • Monthly payments increased from $2,237 --> $4,101
  • Reduced life of loan cost from $536,813 --> $344,466
  • Paid off 15 years sooner and saved $192,347

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.

1) 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 4.50% fixed APR.

  • Monthly payments increased from $2,237 --> $3,109
  • Reduced life of loan cost from $536,813 --> $373,128
  • Paid off 15 years sooner and saved $163,685

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.

1) 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 refinancing her student debt into a lower interest rate with a new 15 year loan at a 5.25% fixed APR.

  • Monthly payments increased from $2,237 --> $2,412
  • Reduced life of loan cost from $536,813 --> $434,163
  • Paid off 5 years sooner and saved $102,650

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.