As a medical student, Zachary Hamilton, MD, had no idea how he was going to pay for his fourth-year residency applications and travel expenses to interviews. Then he heard about and applied for a TMA low-interest educational loan.
“This relatively small loan made a big difference for me,” said Dr. Hamilton, now in his fourth year of practice as an obstetrician-gynecologist in San Marcos.
Faced with expenses for clinical rotations, United States Medical Licensing Examination tests, and more, medical students can turn to TMA’s medical student loan program to borrow up to $6,000 at a fixed 4.4% interest rate. Students enrolled in a Texas medical school can apply for a loan for educational expenses or other financial needs, such as a car repair.
“Knowing TMA supports medical students and resident physicians throughout their education and training is very satisfying,” said TMA Board Trustee Cynthia Jumper, MD. She interviews loan applicants as a member of TMA’s Educational Scholarship and Loan Committee.
The loan program helps TMA continue to thrive when these “borrowers go on to become great contributors and leaders in Texas medicine throughout their careers,” she added.
From the online application to quick responses to questions, the process was “extremely smooth,” according to another medical student applicant. Typically, TMA educational loans are disbursed within four to five weeks of submitting a loan application. Repayment of the principal is deferred until four years after graduation.
For more information, email TMA or visit TMA's Educational Loans and Scholarships webpage.
TMA also offers loans to resident physicians currently enrolled in a Texas residency program through its resident physician loan program.
Last Updated On
October 03, 2023
Originally Published On
December 05, 2022
Tammy Wishard
Account Manager, Division of Communications and Marketing
(512) 370-1470