MedCAP® Alternative Loan for Health Professionals
| MedCAP Alternative Loan |
| Why students choose this loan | |
|---|---|
| It’s another option for health professional students | This private student loan is for students in an approved health-related program. If you've received all the federal loans you're eligible for and still don't have enough, you can use the MedCAP Alternative Loan for Health Professionals1 to borrow up to the entire cost of your education.2 |
| No fees | No origination, disbursement, or early payment fees. Unlike some other lenders, we don’t deduct anything from the amount you borrow. |
| No payments until you leave school3 | Payments do not begin until:
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Apply now! See a detailed checklist of what you'll need to apply online.
| Additional features and benefits | |
|---|---|
| How much you can borrow | There’s no annual maximum — you can borrow up to the cost of education (tuition, rent, books, etc.) minus other financial aid.2 The aggregate limit is $250,000 including all other educational debt for allopathic (M.D.) or osteopathic (D.O.) medicine and dentistry; or $180,000 including all other educational debt for all other disciplines. |
| The loan money goes to your school | Your financial aid officer will certify the loan amount you are eligible for. In most cases, we send the loan money directly to your school (typically twice a year). You can use any money left over after paying tuition for your other education-related expenses. |
| Competitive annual percentage rate (APR) | Variable APR, based on credit. Lower your interest rate when you pay responsibly. |
| Expert Wells Fargo service | Unlike other lenders, we service our loans from application through repayment, so you get:
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| Who can apply | You must be enrolled in an eligible program; have an established, positive credit history; and meet other criteria. Read all eligibility requirements. |
| MedCAP Alternative Loan |
1 Loan subject to qualification.
2 The annual loan limit for temporary resident aliens is $35,000.
3 Allopathic and osteopathic students have a grace period of 36 months (designated for residency completion) that may be followed by up to 24 months of internship/residency forbearance, for a total deferment period of up to 60 months after graduation. All other students begin repayment six months after leaving school, or five to seven years after the first disbursement date (depending on discipline), whichever comes first.
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