Medical Student and Resident Physician Loans

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

General Requirements

  • 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

General Requirements

  • 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

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