Residency Relocation Loans

Some lenders offer private loans for residency interviewing and relocation costs. While minimizing your student loan debt is important, such loans are generally better alternatives to credit cards. These are consumer, not education loans and therefore do not require certification of financial eligibility by the Office of Financial Aid. Please contact lenders for terms before borrowing.

 UMassFive College
Credit Union
Loan Limits

Up to $15,000

Up to $20,000


Interest Rate

Prime + % rate based on credit rating

1 Month Libor plus 3.00% to 1 Month Libor plus 9.75% rate based on credit rating






Interest Capitalization


At the beginning of repayment and during periods of internship/residency deferment and periods of in-school deferment.


Repayment Terms

Up to 15 years

Up to 20 years

Excluding deferment and forbearance periods


Deferment Options

Throughout residency

Up to 48 months


Borrower Benefits

Eligible for a 0.25% interest rate reduction for automatic payment from a UMass5 draft account

Eligible for a 0.25% interest rate reduction for automatic payment.

Quarterly FICO score for free

Death and Disability loan forgiveness



All terms and conditions subject to promissory note of each program. Applicants are advised to contact the lender for specific and up-to-date terms and conditions. These loans require a separate application. Please contact the lenders to receive an application or apply online.

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