Refinance Your Medical School Loans

Consider refinancing your loans to lower the interest rates and save thousands in the total amount paid back over time.

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ISL Education Lending
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CommonBond offers student loan refinancing to graduates and to parents with Parent PLUS loans. CommonBond offers extremely competitive rates for refinancing along with forbearance options and flexible repayment for interns, residents, and fellows. 

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Earn a $225 bonus exclusively for being referred by Physicians Thrive when you refinance your student loans with CommonBond.

SoFi’s mission is to help people reach financial independence to realize their ambitions which is especially helpful for residents, who only have to pay $100 a month without compounding interest during residency. When you apply with Sofi, your financial history, credit score, income vs. expenses, employment status and level of education are factored into your loan eligibility. 

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When you apply through the Physicians Thrive link, you qualify for a 0.25% rate discount on your loan.

Lend-Grow is loan marketplace that helps you find the lowest student loan refinance rates by matching you with a local lender who are typically hard to find.

Before refinancing your student loans, it’s wise to get rate quotes from several different lenders to ensure you get the best terms. While you can do that manually on your own, there’s a simpler way: you can go through a refinancing marketplace.

With Credible, you submit your information just once and get quotes from multiple lenders, without affecting your credit score. You can compare interest rates and loan terms from up to ten top lenders and choose the best one for your needs. Once you choose a loan, you can complete your application online.

The service is completely free to use. Instead of charging users fees, Credible makes money through referral commissions if you for a loan through its website.

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When you visit Credible through the Physicians Thrive link, you can earn a $300 bonus for loans under $100k and a $600 bonus if your loan exceeds over $100k  when you pick a lender through Credible.

Education Loan Finance (“ELFI”) makes financing your future simple by offering easy payment options, affordable rates, and flexible terms in an application process that is transparent and secure. Ready for something truly different? You’ll never go at it alone. When you apply, you’ll receive a Personal Loan Advisor, an expert ready to walk you through the application process and answer any questions along the way.

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Earn a $300 bonus exclusively for being referred by Physicians Thrive when you refinance your student loans with ELFI.

The Reset Refinance Loan is offered by ISL Education Lending, a nonprofit student loan lender with more than 40 years of experience exclusively in higher education finance, so you can bet they know their business. The program features a lower-rate refinance loan for practicing physicians and a loan specifically for medical and dental residents that requires only $75 monthly payments* during their residency or fellowship.

You can pre-qualify online to see your rate options in less than a minute with no impact to your credit. And applying generally takes less than 15 minutes.

Loans are originated and serviced for the life of the loan at their one service center by skilled and knowledgeable staff.

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When you refinance $60,000 or more through the Physicians Thrive link, you receive $500 from ISL Education Lending.*

Brazos Higher Education offers some of the best rates to Texas residents only. Brazos is a nonprofit with over 35 years of experience with student loans.  As a nonprofit, Brazos’ rates can be better than the national lenders. You can refinance up to $150,000 with a bachelor’s degree and up to $400,000 with a graduate, law, medical or other professional degree.  The minimum amount to refinance is $10,000. If you’re a Texan, visit now and start saving.

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Start your Brazos refinance application through this link and you will get a $600 cash bonus after your loan funds!

*$600 to be sent via check within 8 weeks of the final funding of your Brazos refinance loan.  BRAZOS RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME, INCLUDING CASH BONUS PROGRAMS WITHOUT NOTICE.  Offer good for new customers only. Brazos lending decisions are not impacted in any way by participation in this offer.  Offer is non-transferable.  No substitutions.  Limit one offer per loan. Limit one offer per individual.

Student Loan Refinancing Tips

Shop around for your best rates.

No one company is the best for everyone. Rates vary depending on your annual income, total debt, savings, and monthly housing payment. Most lenders let you check your rate online for free so finding the right lender for you should be a quick and easy first step.

Choose your loan terms.

Once you’ve chosen a lender, you can also compare the loan terms for a five-year, 10-year or longer repayment term. While a longer term will lower your monthly payments it could ultimately cost you more if more interest accrues over the life of the loan.

Submit an application and upload your documents.

To lock in your new interest rates you need to apply and upload documents to your new lender. The required documents typically include loan statements, proof of income and proof of citizenship. If you forget a document, don’t worry the lender will notify you.

Reminder: Keep paying your loans off while you wait for approval. It may take a few weeks for your
refinancing application to get approved, so continue to make your regular payments on your loans until
you’re officially approved.

Need Assistance?

On a case by case basis, we strive to help each physician we work with plan for their future wisely.

Advertiser Disclosure

Our goal is to help you make financial decisions with confidence. Physicians Thrive has partnerships with organizations including, but not limited to, Sofi, Credible, Lend-Grow, ELFI and Brazo Student Loans.

The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish or the reviews that you see on this site. 

ISL Education Lending Reset Refinance Loan for Medical Residents

During your residency, you must make monthly payments of at least $75.00 for the Reset Refinance Loan for Medical Residents. The $75.00 monthly payments during the Residency Period may not be enough to fully pay the interest that will accrue during the Residency Period. If the interest that accrues each month is more than $75.00, the amount of interest that is not paid will be added to your loan balance. Your loan balance may therefore increase during your Residency Period even though you are making the required payments, which is called negative amortization. Because of the negative amortization, your loan will have a larger principal balance at the start of the Post-Residency Repayment Period than the amount that you originally borrowed. Annual percentage rates (APRs) of 2.62% to 6.16% assume a principal and interest repayment term as short as five years and as long as 20 years, borrowing $100,000, a 0% origination fee, deferring principal and interest for 66 months while requiring $75.00 monthly payments, and assumes you are enrolled in and maintain auto-debit payments during the Post-Residency Repayment Period. Enrolling in auto-debit during the Post-Residency Repayment Period results in a 0.25% interest rate reduction during the Post-Residency Repayment Period. Without enrolling in auto-debit, the APR range would be from 2.70% APR to 6.31% APR. Not all borrowers receive the lowest rate. If you are approved for a loan, the rate offered will depend on your credit profile and the term you select.

$500 Offer Details

  1. To receive the $500 offer, applicants must complete and submit an application for a Reset Refinance Loan for Medical and Dental Professionals or Reset Refinance Loan for Medical Residents in the amount of $60,000 or more using the link from this site. Applicants with loans already owned by Iowa Student Loan Liquidity Corporation are not eligible for the $500 offer.
  2. The $500 offer will be provided via a check that will be mailed to the borrower within 60 days of the Reset Refinance Loan for Medical and Dental Professionals or Reset Refinance Loan for Medical Residents being successfully funded.
  3. Borrowers are only eligible for a single $500 offer. Cosigner(s) are not eligible for a $500 offer, and the $500 offer will not be paid to any cosigner.
  4. Employees of ISL Education Lending, Aspire Resources Inc. and Bank of Lake Mills are not eligible for the $500 offer.
  5. ISL Education Lending may be required to report any cash payments to the Internal Revenue Service. Please seek advice on the taxability of the $500 offer from your tax advisor.
  6. ISL Education Lending reserves the right to change or eliminate this $500 offer at any time.