TMA offers low interest loans for qualified medical students and resident physicians
Whether you need extra funds while in medical school or during residency training, TMA has low-interest loans to help. Consider these loans for STEP 2 applications, rotation expenses, interviews, and residency relocation.
Visit the TMA Loan Funds web page for more information
Student Loan Program
- Available to currently enrolled medical students attending Texas medical schools.
- Maximum available per loan fund is $6,000.
- Interest is due on the anniversary date of the loan.
- Repayment of the principal portion of the loan begins four years after graduation.
- Equal monthly payments will be made for four years.
- Loans may be repaid in full at any time prior to maximal tenure without penalty.
- The note will become due if the student should discontinue the study of medicine.
- An information session will be required with a Trustee of Texas Medical Association.
How to Apply
- Texas medical students may apply online HERE. (Visit www.tmaloanfunds.com to find out which schools require students to contact them prior to application submission.)
- Upon approval, funds are transmitted via direct deposit directly to the student.
Resident Loan Program
- Available to physicians in any year of postgraduate training in a Texas accredited program.
- A resident physician may borrow up to a maximum of $3,000 or $6,000 (*depending upon which loan fund is taken).
- The residency must be in an accredited program within the sate of Texas.
- Interest is due each year on the anniversary date of the loan until principal repayment begins.
- Loans may be repaid in full at any time without a prepayment penalty.
- Loan recipients must begin to repay the principal of the loan two years after loan disbursement.
- Equal monthly payments will be made for 12 months on a $1,000 loan, 24 months on a $2,000 loan, 36 months on a $3,000 loan, or 48 months on loans of $4,000, $5,000, and $6,000.
How to Apply
- Texas resident physicians may apply online HERE.
- Upon approval, funds are transmitted via direct deposit directly to the physician.
Questions? Email info[at]tmaloanfunds[dot]com , or call (800) 880-2828 for more information.
*Note : If an individual received a TMA loan from either the Dr. SE Thompson Scholarship Fund or the TMA Alliance Student Loan Fund while in medical school, that amount will be included in the maximum allowed.
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Last Updated On
March 18, 2021
Originally Published On
March 23, 2010