Wells Fargo Student Loans - MedCAP-XTRA Loan

Why students choose this loan

The help you need for your extra expenses

Medical and health professions students can get additional financing¹ for residency relocation, internships, and/or medical boards and clinical exams.

No payments until you leave school²

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 Rate³

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 account⁴

Additional features and benefits

How much you can borrow

$1,000-$12,500 for medical boards and clinical exams, including review courses, exam costs, and living expenses

$1,000 - $15,000 for residency interview and relocation (up to $5,000 for interview travel and $10,000 for relocation) for allopathic and osteopathic medicine, chiropractic, dentistry, optometry, podiatry, and veterinary medicine students

$1,000 - $5,000 for internships for occupational therapy, pharmacy, physical therapy, and physician’s assistant students

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.

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

Eligiblity Requirements

You must have an establised, positive credit history and be a U.S. citizen, U.S. national, or permanent resident alien without conditions and with proper evidence of eligibility.

To qualify for residency and internship expenses, you must also be a current Wells Fargo customer and in your final year at an approved allopathic or osteopathic school or one of the following programs: Chiropractic, Dentistry, Occupational therapy, Optometry, Pharmacy, Physical therapy, Physician's assistant, Podiatry, or Veterinary medicine
To qualify for medical board and clinical exam expenses, you must be a medical student in at least the second year in one of the following approved programs: Allopathic medicine, Osteopathic medicine, Dentistry, or Podiatry

¹ Loan subject to qualification.
² Allopathic and osteopathic students have a grace period of 36 months (designed 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 (depending on discipline), whichever comes first.
³ Wells Fargo retains the right to discontinue or modify our rewards for future disbursement at any time without notice.
⁴ 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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PRIVACY, Security & Legal

MedCAP-XTRA® Loan

MedCAP-XTRA^® Loan