Back to top

Refinancing Medical Student Loans

Back to top

To assist residents as they transition to practicing physicians, the AMA negotiates student loan refinancing options through Credible. More than 80% of physicians under the age of 40 are still paying off their medical student loans, according to the AMA Insurance’s National Work/Life Profiles 2014 survey. Nearly half of these young physicians carry a debt of $150,000–$200,000.

The Value of Refinancing

AMA members who use Credible can receive financing offers as low as 2.78%.

How to Refinance

AMA members who use Credible can receive personalized refinance offers from top lenders in just 90 seconds and get a $420 bonus once refinancing is complete. (Additional terms and conditions may apply.) Using the Credible service is as easy as:

  1. Request prequalified rates—in 90 seconds, get refinancing rates from multiple lenders
  2. Select your preferred lender—choose a lender and finalize your offer
  3. Choose your best offer—select the one that is right for you

The Best Refinancing Offer

For the best offer:

  • Be in good credit standing.
  • Have a low debt-to-income ratio.
  • Have a work history.
  • Be aware of current market rates.
  • Apply with a cosigner if the credit score is 680 or lower.
  • Compare multiple offers.

Visit the Credible website to get started.

Visit AMA Wire® for the latest tips on managing present and future finances.

Print this page Email this page