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A New Graduate Loan for Medical Students

Multi-Year Approval(1)

Automatic 48-Month Residency Deferment(2)

No Income Requirement(3)

Your hard work and ambition got you here. Choose EdMed to help you follow through on your calling, with built-in student loan features to save you time so you can focus on what really matters during medical school, residency, and beyond.

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FIXED RATES FROM

2.99% APR (1)

VARIABLE RATES FROM

6.75% APR (1)

LOAN TERMS

5, 7, 10, & 15 Years (1)

Student Loan Features Designed for Future Physicians and Surgeons

Students enrolled in qualified programs, including MD, DO, or DPM degree programs, are eligible to apply for an EdMed student loan and receive benefits designed to accommodate their academic, residency, and fellowship timelines.

Multi-Year Loan Approval

No need to set reminders to renew your student loans. Receive approval for the duration of your program from a single application.(1)

Waived Income Requirement

With EdMed, you can receive funding without having to provide income verification, which reduces the need to apply with a cosigner (you can still include a cosigner if preferred).(3)

Automatic 48-Month Residency Deferment

Delay repayment while you complete your medical residency or fellowship, with 48-months automatic deferment and the option to request additional deferment up to 96 months total.(2)

9-Month Grace Period

Enjoy a built-in 9-month grace period after graduation or residency/fellowship before full repayment begins.

Cover up to 100% Cost of Attendance

Freedom to borrow what you need when you need it, up to the school-certified cost of attendance, minus other financial aid.

Match Our Flexible Repayment Options to Your Post-Residency Plans

Immediate Repayment

Best for borrowers who want to start repaying their loan right away, with monthly principal and interest payments beginning while still in school.

More Details
  • The loan term starts upon disbursement of funds to the school.
  • Make monthly principal and interest payments while attending school.
  • Full monthly payments of interest and principal will begin 30 to 60 days following disbursement.

Interest-Only Repayment

Repayment plan for borrowers who prefer to pay only the interest while in school, with full monthly payments starting after the 9-month grace period.(5)

More Details
  • Make monthly interest payments on the loan while attending school.
  • If you do not enter Residency Deferment following graduation, continue monthly interest payments during the 9-month grace period.
  • If you enter Residency Deferment following graduation, continue monthly interest payments (or $25, whichever is greater) during Residency Deferment and the 9-month grace period.
  • Full monthly payments of interest and principal will begin 30 to 60 days upon completion of the grace period.

Fixed Repayment

Ideal for borrowers who want to make small, manageable monthly payments of $25 while in school and during the grace period, with full monthly payments starting after this period.(4)

More Details
  • Make $25 monthly payments while attending school.
  • Continue $25 monthly payments during Residency Deferment and the 9-month grace period.
  • Full monthly payment of interest and principal will begin 30 to 60 days upon completion of the grace period.

Deferred Repayment

Best for borrowers who prefer to delay all monthly payments while in school.(6)

More Details
  • No monthly payments required while in school
  • If you do not enter Residency Deferment following graduation, monthly payments remain fully-deferred during the 9-month grace period.
  • If you enter Residency Deferment following graduation, make $25 monthly payments during Residency Deferment and your 9-month grace period.
  • Full monthly payments of interest and principal will begin 30 to 60 days upon completion of the grace period.

YOUR PLACE IN MEDICAL SCHOOL IS WAITING.

Completing Our Application Process Is Fast, Simple, and Fee-Free

Prequalify

See your estimated rates within minutes without impacting your credit score.

Apply

Select a plan with the rates and terms that fit your needs, and be paired with a Student Loan Advisor upon applying.

Upload & Sign

Be guided through an easy upload process for any required documents, then sign electronically.

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Eligibility Requirements
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When It Comes to Medical School Loans, Choose Experience with Extras

For more than ten years, ELFI has proven its commitment to supporting students responsibly finance their education and maximize their repayment strategies. That’s why we’ve made these features a standard experience for every borrower:

  • Competitive Rates & Flexible Terms – We believe in rewarding financially responsible borrowers by providing rate and term options that make repayment more manageable.
  • Award-Winning Customer Service – We pair every applicant one-to-one with a Student Loan Advisor who can provide assistance and answer questions during the process, from application to distribution. 
  • No Fees or Painful Waiting – Our easy online application process skips the application fees or origination fees, with no prepayment penalties for paying off your loan early.
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Excellent Customer Experiences

Rated 4.9 out of 5 on TrustPilot

When you combine personalized service, an easy application with no fees, and flexible loan options, you get 5-star customer experiences.

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EdMed Student Loans for Medical School:
Frequently Asked Questions

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Terms & Disclosures

1

EdMed Student Loans: Loans and multi-year approval are subject to credit approval and continued program eligibility and school certification. EdMed Parent loans may have different requirements and term options. Terms & conditions apply. Interest rates are current as of 3/27/26. Interest rates may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Variable interest rates may increase after closing. For example, a 10-year loan with a fixed rate of 9.00% APR on an immediate repayment plan would have 120 monthly payments of $12.66 per $1,000 borrowed. Rates are subject to change.

2

Residency Deferment:

  • An Automatic Residency Deferment will apply to borrowers who are enrolled or officially accepted into a medical residency program at the time they graduate from the school for MD, DO, DDS, DMD, and DPM degrees and the deferment period will automatically be extended for 48 months (not including the Grace Period) with no action necessary by the borrower. These borrowers may also extend the 48 month Automatic Residency Deferment Period in increments of 12 months up to 96 months total, provided that the borrower call ELFI and provide proof of residency or fellowship beyond the initial 48 months.
  • Borrowers who graduate with DNP, MSN, OD, DVM, and PharmD degrees may be eligible for Residency Deferment that can be requested in increments of 12 months up to 96 months total.

Residency Deferment is available at the sole discretion of ELFI. Borrowers must request and ELFI must approve the Deferment. Borrowers may be asked for proof of residency or fellowship to be approved. If approved, a minimum monthly payment of $25.00 will apply during the Residency Deferment. For example, if your loan was disbursed on 8/15/2026 and you completed residency on 5/15/2028, you would make 30 monthly payments of $25 beginning 9/15/2026 (which includes your 9-month grace period before full payments), followed by 120 full monthly payments beginning 3/15/2029 of $68.17 for every $5,000 borrowed at a 9% APR. Rates subject to change. Borrowers may contact ELFI at any time to end Residency Deferment early.

3

Non-Income Verified Approval: In order to waive income verification, borrower must be enrolled in an eligible MD, DO, DPM, DDS, or DMD program and select the Fixed Repayment option.

4

Fixed Repayment Example: For example, if your loan was disbursed on 8/15/2026 and you graduated on 5/15/2028, you would make 30 monthly payments of $25 beginning 9/15/2026 (which includes your 9-month grace period for full payments), followed by 120 full monthly payments beginning 3/15/2029 of $68.17 for every $5,000 borrowed at a 9% APR. Rates subject to change.

5

For example, if your loan was disbursed on 8/15/2026 and you graduated on 5/15/2028, you would make 30 monthly payments of $38.21 beginning 9/15/2026 (which includes your 9-month grace period for full payments), followed by 120 full monthly payments beginning 3/15/2029 of $63.34 for every $5,000 borrowed at a 9% APR. Rates subject to change.

6

For example, if your loan was disbursed on 8/15/2026, you graduated on 5/15/2028, and entered Residency Deferment for 48 months, beginning 6/15/28, you would make 57 monthly payments of $25 (which includes your 9-month grace period before full payments), followed by 120 full monthly payments beginning 3/15/2033 of $82.42 for every $5,000 borrowed at a 9% APR. Rates subject to change.