If life throws a financial curveball during medical training, it can be overwhelming. The Texas Medical Association’s low-interest loans for medical students and residents can help.
Medical students can receive the loans to help offset the cost of medical school, and resident physicians can receive loans for residency interviews and relocation – and emergency-funding needs.
TMA’s medical student and resident loan programs offer up to $6,000 at a fixed 4.4% interest rate to qualified applicants in Texas medical schools or Texas residency programs, with certain repayment terms. The online application process allows for quick turnaround to accommodate emergencies, such as a car repair, or other anticipated expenses, such as residency relocation or child care needs.
TMA leaders who serve as “interviewing trustees” approve the loans after talking with the applicants. TMA Immediate Past President Diana L. Fite, MD, serves as an interviewing trustee, and has approved more than 100 medical student and resident physician loans.
“One of the things I’ve enjoyed most in my 42-year TMA career is serving as an interviewing trustee,” Dr. Fite said. “It’s rewarding to help future physicians achieve their goals, whether we’re assisting them with a temporary loan to cover emergency expenses or fill a gap in financial aid.”
TMA accepts loan applications year-round, and disburses funds within three weeks from submission in most cases. If you have questions, email email@example.com or visit www.tmaloanfunds.com.
Last Updated On
October 08, 2021
Originally Published On
August 30, 2021