Features of Student Loans for Health Professional
Both Federal and Private student loans are available to students taking up studies in medicine.
Consolidation facilities are offered to students who avail medical school loans
Such consolidation loans are provided both for private and federal loans availed.
Medical School Consolidation loans are offered during the grace period of the loan repayment.
It is important to note that loans should not be defaulted if you opt to consolidate them.
Credit checks are not required for medical school loans
No prepayment penalties levied fro early closure
Flexible repayment schedules are offered to health professionals
Modus Operandi of a Student Loan for Health Professional
These loans are offered like any other student loan programs.
Health professionals are offered flexible repayment terms
They can also pay more than the designated amount on their loan repayment but are required to specify that the extra amount is towards principal, which eventually results in reduced interest amounts
It is important to consolidate medical school loans during the grace period, this provides lowest interest rates.
The repayment plan is related to the income earned, whereby the repayment amount increases as your income does.
Federal and Private loans cannot be consolidated together due to the varying terms of loan and better benefits offered by federal loans
Companies offering Best Deals for Student Loans Health Professionals
Medical School Loans: There are both federal and private medical school loans offered to students. Minimum interest rates and flexible repayment terms. No credit check for federal loans
Medical Student Aid: Offers Medical School loan at lower interest rates, no prepayment penalty and flexible repayment terms
Gradloans.com: An online lender with fast processing and low interest rates.