Wells Fargo Student Loans - MedCAP Alternative Loan for Health Professionals

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 payments until you leave school³

Payments do not begin until:

Up to 60 months after you leave school for allopathic and osteopathic medical programs
6 months after you leave school for other eligible disciplines

Options to Lower Your Interest Rate⁴

For loans first disbursed on or after July 1, 2008:

0.50% rate reduction at repayment upon verification of graduation with the Wells Fargo Student Graduation Benefit^SM Program
0.25% interest rate reduction when we automatically withdraw payments from a personal checking or savings account⁵

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.

Wells Fargo service

Loan specialists ready to help you
Free online account access, so it’s easy to pay your loan
One bank for all your financial needs

Eligibility Requirements

You must be a graduate or undergraduate student and:

Be enrolled in an approved allopathic or osteopathic school or one of the following programs: Accelerated medical, Cardiac perfusion, Chiropractic, Biotechnology, Dentistry, Medical technology, Nursing, Nutrition, Occupational therapy, Optometry, Pharmacy, Physical Therapy, Physician's assistant, Podiatry, Veterinary medicine program, or other health-related programs offered by an approved medical school
Have an established, positive credit history
Be a U.S. citizen, U.S. national, permanent resident alien without conditions, or international student who is a temporary resident alien with a current U.S. address and proper evidence of eligibility
Have a U.S. citizen cosigner if you are a permanent or temporary resident alien, first-year undergraduate, or associate or nutrition student

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.
⁴ Wells Fargo retains the right to discontinue or modify our rewards for future disbursement at any time without notice.
⁵ Reduced interest rate requires continued automatic payment from a personal checking or savings account. If the automatic payment is cancelled at any time after repayment begins, the discount will be lost until automatic payment is reinstated.

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We encourage you to visit our Fraud Information Center.

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MedCAP® Alternative Loan for Health Professionals

MedCAP^® Alternative Loan for Health Professionals