Panacea Financial, a division of Primis Bank, deposit products:
FDIC-Insured – Backed by the full faith and credit of the U.S. Government
Medical student debt isn’t just a number—it’s a growing source of stress for doctors in training.
Our latest survey reveals just how deeply student loans are affecting residents and fellows across the U.S. From six-figure balances to rising anxiety about repayment and forgiveness programs, this infographic breaks down the financial reality for today’s physicians in training.
Here’s what they had to say in our 2025 Residents & Fellows Survey.
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1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The minimum APR is 10.638% (with all discounts) and the maximum APR is 17.850% (with no discounts). The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. We offer a 0.50% discount with auto-pay from a Panacea checking account and a 0.25% discount with auto-pay from a non-Panacea checking account. To check the rates and terms you qualify for, click “Get Started” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval. Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000. PRN Loans have no prepayment penalty or prepayment fee and may be repaid at any time after loan closing. The minimum repayment period is immediately after closing. The minimum and maximum term varies by employment status. In Practice and In Training PRN Personal Loans have repayment periods of 3, 5, or 7 years. In School PRN Personal Loans have repayment periods of 5 or 7 years. Example scenario of PRN In Training 5-year term loan: 14.176% fixed APR, $20,000 loan. APR includes $100 origination fee. Repayment is interest only monthly payments varying from $215.87 to $239.00 in years 1-3, fixed monthly payments of $965.22 in years 4 -5 (11 payments year 5), and one final fixed payment of $965.29. Total finance charges: $11,615.15. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 661 to qualify for a personal loan.
2. For a 5-year term, you make reduced payments in years 1, 2, and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 1, 2, and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.
3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.
4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.
5. 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.
6. Panacea Legal Services partners with Panacea Financial Holdings to assist with administrative and consultative services. The delivery of legal services will be the exclusive responsibility of Panacea Legal Services. Panacea Legal Services does not have a relationship with Primis Bank. ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME. ANY COMPLAINTS ABOUT THIS ADVERTISEMENT OR THE REPRESENTATION OF ANY LAWYER MAY BE DIRECTED TO THE SUPREME COURT COMMITTEE ON PROFESSIONAL CONDUCT, C/O CLERK, ARKANSAS SUPREME COURT, 625 MARSHALL STREET, LITTLE ROCK, ARKANSAS 72201.
7. Banking services are provided by Panacea Financial, a division of Primis Bank, Member FDIC. Deposits at Panacea Financial, Primis Bank, and any of its divisions, brands or affiliates are aggregated to determine FDIC insurance coverage.
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