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Refinancing Medical Student Loans

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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 3.11%.

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.

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