Refinancing medical faculty loans generally is a easy manner to economize throughout mortgage compensation. The secret’s to buy the bottom rate of interest.
Most U.S. docs graduate with properly over $200,000 in scholar mortgage debt — and plenty of will spend years, typically a long time, repaying it.
Refinancing can decrease your rate of interest and shorten compensation, however it additionally means giving up federal protections like income-driven compensation and Public Service Loan Forgiveness (PSLF).
This information helps you determine if and when refinancing is smart for medical professionals, and which lenders at the moment supply the most effective phrases.
Greatest Medical Faculty Pupil Mortgage Refinancing
Listed below are our prime selections to medical faculty scholar mortgage refinancing. These selections might range barely from our common list of student loan refinancing companies as a result of physicians sometimes have increased incomes and better mortgage balances.
Our group checks the charges beneath each weekday, Monday by Friday. These charges are correct as of January 18, 2026.
Credible
Credible is our favourite market for evaluating scholar loans. They’ve nearly a dozen completely different lenders you can simply store and evaluate on their platform. On account of being a market, you may get nice charges and phrases since you’re seeing the most effective affords from a wide range of lenders.
Proper now, they provide the next charges:
- Fastened Fee:
3.99% – 10.15% APR - Variable Fee:
3.84% – 11.41% APR
And as a School Investor reader, it doesn’t matter what lender you really select – if you happen to refinance on their platform you will get:
- $1,000 reward card bonus if you happen to refinance a minimum of $100,000 in scholar loans.
- $300 reward card bonus if you happen to refinance lower than $100,000 in scholar loans.
Learn our Credible review here.
ELFI
ELFI has an extended monitor report of serving to docs and others within the medical subject refinance their scholar loans. Plus, they’re persistently on the prime of “finest fee” charts and customer support rankings.
The ELFI mortgage minimal is $10,000 for refinancers, with the utmost being your excellent mortgage steadiness. This generally is a big win for debtors with excessive scholar mortgage debt, particularly docs.
ELFI doesn’t have particular credit score minimums posted, however they do require debtors to be creditworthy (or have a creditworthy cosigner). One of many few downsides of ELFI, nevertheless, is that it is one of many few lenders on this checklist that doesn’t supply a cosigner launch program.
Proper now, they provide the next charges:
- Fastened Fee:
4.88% – 8.44% APR - Variable Fee: 4.74% – 8.24% APR
ELFI is providing an superior bonus to our readers:
- $599 bonus if you refinance a minimum of $100,000 in scholar loans.
- $550 bonus if you refinance lower than $100,000 however a minimum of $50,000 in scholar loans.
Pupil Selection
Student Choice is a platform that connects college students with credit union scholar mortgage alternatives. It initially opened within the late 2000s with a bunch of credit score unions trying to present a useful resource for college kids to seek out extra reasonably priced scholar mortgage choices.
One of many issues we actually like about them is since they’re credit score union backed, they have an inclination to supply a number of the lowest charges within the market.
Proper now, they provide the next charges:
Splash Monetary
Splash Financial is a scholar mortgage refinancing market that works with a couple of main lenders together with Nelnet Bank, Laurel Street, and PenFed.
We extremely suggest Splash to medical residents as they provide $100 funds in your refinanced loans throughout your residency and for as much as 6 months afterward.
Additionally they persistently have a number of the lowest charges. Proper now, they provide the next charges:
- Fastened Fee: 4.24% – 10.24% APR¹
- Variable Fee: 4.74% – 10.24% APR¹
Splash is at the moment providing School Investor readers a $500 bonus if you happen to refinance a mortgage over $50,000⁴.
That is an important bonus and you’ll apply here to get started.
Learn our full Splash review here.
Earlier than You Refinance Medical Faculty Loans
Earlier than you think about refinancing your medical faculty loans, it is advisable determine what sort of scholar loans you may have as a way to create a plan. If you do not know the place to start out, try this information on where to find your student loans. You would possibly discover that you’ve got a mixture of each federal and personal scholar loans.
Relying in your mortgage sort, and your present profession (and future profession targets), you can also make a plan. If you are going to be taking a look at student loan forgiveness for doctors, you sometimes do not wish to refinance your scholar loans.
Nonetheless, when you’ve got non-public scholar loans, it might make sense to refinance as typically as attainable to decrease your rate of interest.
To recap, earlier than you refinance your scholar loans from medical faculty, you need to:
- Know what mortgage varieties you may have – Perceive the distinction between federal and personal scholar loans.
- Perceive your present and future profession targets – Know if you are going to be working in public service or non-public apply, as this may impression your mortgage forgiveness choices.
- Verify for mortgage forgiveness or mortgage compensation help – Some states will supply mortgage compensation help even when you’ve got non-public loans.
- Know your monetary numbers – You also needs to be sure to have a good suggestion of your credit score rating, in addition to proof of your earnings.
Ought to You Refinance Medical Faculty Loans?
Bear in mind, scholar mortgage refinancing is if you take out a brand new non-public scholar mortgage to exchange your present loans. Your present loans could possibly be federal or non-public (or possible a mixture of each).
Since you’re changing your previous loans with a brand new mortgage, it may not make sense to refinance. For instance, if you happen to’re working in public service (at a non-profit hospital or well being group), it is possible a greater choice to go for public service loan forgiveness.
Nonetheless, when you’ve got any non-public scholar loans, it is at all times a good suggestion to refinance right into a decrease rate of interest if it can save you cash.
Here is when it may make sense to refinance medical faculty loans:
- You will have non-public scholar loans – It at all times is smart to refinance non-public scholar loans to attempt to get the bottom fee attainable (to avoid wasting you cash).
- You might be 100% constructive that you’ll not qualify for any mortgage forgiveness program like PSLF – When you have federal loans however work in non-public apply and are positive you will not qualify for any mortgage forgiveness program, it may make sure that to refinance.
- You’ll repay the loans in 5 years or much less (with out mortgage forgiveness) – One of the best charges on scholar loans are sometimes for five yr or much less mortgage phrases. This could possibly be an choice to economize. Nonetheless, do not jeopardize mortgage forgiveness if you happen to’re eligible.
Don’t Neglect To Take into account Various Doctor Pupil Mortgage Reimbursement Choices
When you have Federal loans however aren’t positive if you happen to should refinance them into private loans, you might need different choices that could possibly be useful as properly.
First, you need to take a look at getting on an income-driven compensation plan. The primary plan selections for physicians might be between PAYE and SAVE. You may have to do some math and see which is finest, however typically, SAVE is nice for the curiosity subsidy, which will be useful. Nonetheless, if you happen to even have a high-earning partner, you should use your mixed AGI – which may drive up your fee plan.
If you happen to do have a excessive incomes partner, you can take a look at filing your taxes separately and taking advantage of PAYE. When you would possibly pay just a little extra in taxes, the financial savings in your scholar mortgage fee could possibly be substantial.
And if you do not know the place to start out together with your plan, try Student Loan Advice by the White Coat Investor. Their experience with docs and scholar loans is prime notch as that is all they give attention to.
Associated Articles:
Methodology
The School Investor is devoted to serving to you make knowledgeable choices round complicated monetary matters like discovering the most effective scholar mortgage refinancing affords. We do that by offering unbiased reviews of the top banks and lenders for our readers, after which we combination these selections into this checklist.
Now we have picked scholar mortgage refinancing lenders primarily based on our opinions of how simple they’re to make use of, their rates of interest, any bonuses supplied, and a wide range of different components. We consider that our checklist precisely displays the most effective scholar mortgage refinancing choices within the market for shoppers.
Splash Monetary
Splash Monetary, Inc. (NMLS #1630038), licensed by the DFPI below California Financing Regulation, license # 60DBO-102545
Phrases and Situations apply. Splash reserves the appropriate to switch or discontinue merchandise and advantages at any time with out discover. Merchandise will not be out there in all states. Charges and phrases are topic to vary at any level previous to software submission. The data you present is an inquiry to find out whether or not Splash’s lending companions could make you a mortgage supply. To qualify, a borrower should be a U.S. citizen or different eligible standing and meet lender underwriting necessities. Lowest charges are reserved for the best certified debtors and will require an autopay low cost of 0.25%. Splash doesn’t assure that you’ll obtain any mortgage affords or that your mortgage software might be authorized. If authorized, your precise fee might be inside a spread of charges and can rely on a wide range of components, together with time period of mortgage, creditworthiness, earnings and different components. This info is present as of January 17, 2026. It’s best to evaluation the advantages of your federal scholar mortgage; it might supply particular advantages {that a} non-public refinance/consolidation mortgage might not supply. If you happen to work within the public sector, are within the army or profiting from a federal division of aid program, corresponding to income-based compensation or public service forgiveness, it’s possible you’ll not wish to refinance, as these advantages don’t switch to non-public refinance/consolidation loans.
1Autopay Low cost. Charges listed embrace a 0.25% autopay low cost.
Annual Share Fee (APR) is the price of credit score calculating the rate of interest, mortgage quantity, compensation time period and the timing of funds. Fastened APR choices vary from 4.96% (with autopay) to 11.24% (with out autopay). Variable APR choices vary from 4.99% (with autopay) to 11.14% (with out autopay). Variable charges are derived by including a margin to the 30-day common SOFR index, revealed two enterprise days previous such calendar month, rounded as much as the closest one hundredth of 1 p.c (0.01% or 0.0001).
2Cost Disclosure. Fastened loans characteristic compensation phrases of 5 to twenty years. For instance, the month-to-month fee for a pattern $10,000 with an APR of 5.47% for a 12-year time period could be $94.86. Variable loans characteristic compensation phrases of 5 to twenty years. For instance, the month-to-month fee for a pattern $10,000 with an APR of 5.90% for a 15-year time period could be $83.85.
3Credit score Pull Disclosure. To test the charges and phrases you qualify for, Splash Monetary conducts a smooth credit score pull that won’t have an effect on your credit score rating. Nonetheless, if you happen to select a product and proceed your software, the lender will request your full credit score report from a number of shopper reporting companies, which is taken into account a tough credit score pull and will have an effect on your credit score.
4Bonus Disclosure. Phrases and circumstances apply. Provide is topic to lender approval. To obtain the supply, you should: (1) be refinancing over both $50,000, $100,000 or $200,000 in scholar loans relying on the channel associate that’s offering the bonus supply (2) register and/or apply by the referral hyperlink you got; (3) full a mortgage software with Splash Monetary; (4) have and supply a legitimate US tackle to obtain bonus; (5) and meet Splash Monetary’s underwriting standards. As soon as circumstances are met and the mortgage has been disbursed, you’ll obtain your welcome bonus through a test to your submitted tackle inside 90-120 calendar days. Bonuses that aren’t redeemed inside 180 calendar days of the date they have been made out there to the recipient could also be topic to forfeit. Bonus quantities of $600 or larger in a single calendar yr could also be reported to the Inside Income Service (IRS) as miscellaneous earnings to the recipient on Type 1099-MISC within the yr obtained as required by relevant legislation. Recipient is chargeable for any relevant federal, state or native taxes related to receiving the bonus supply; seek the advice of your tax advisor to find out relevant tax penalties. Splash reserves the appropriate to vary or terminate the supply at any time with or with out discover. Bonus Provide is for brand spanking new clients solely.
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