Residency and Relocation Expenses
Residency and Relocation Loans
Residency and relocation loans can be utilized to help pay for travel costs associated with residency interviews, and relocation-related expenses.
Residency and relocation loans do not require school certification, Therefore, you no longer need to submit Cost of Attendance appeals, save receipts, and compile expenses to increase your cost of attendance to apply for additional loan funds.
Below is a chart of residency/relocation loans you may select. Further information about each loan can be found on the Credible portal.
Sallie Mae Residency and Relocation Loan
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Fees: None Rates: Borrowing Limits: Repayment: Aggregate Borrowing Limits: |
Discover Residency Loan |
Fees: Rates: Borrowing Limits: Repayment: Aggregate Borrowing Limits: |
Citizens Bank Student Loan for Medical Residency |
Fees: Rates: Borrowing Limits: Repayment: Aggregate Borrowing Limits: |
PNC Solution Loan for Health Professions Residency |
Fees: Rates: Borrowing Limits: Repayment: Aggregate Borrowing Limits: |
Should you borrow a residency and relocation loan for your expenses?
The AAMC’s Residency and Relocation Loan: Borrow or Not to Borrow article is a great resource to help aid in your decision.
Low Cost Interview Accommodation Options
The Host-A-Student Program is a great way for students to save money when traveling for residency interviews and the Step 2 exam. Visit their website to apply for the program
Airbnb and 9Flats are possible options to find lower cost accommodations while traveling.
Student Financial Services and Housing Resources provides accommodation information solely as a courtesy. Boston University does not endorse any companies and accepts no responsibility for the accuracy or reliability of listings. Contact with the persons and companies must be conducted independently, and at your own risk
Once in Residency
Should you take residency loan deferral options? Please review the AAMC’s Postponing Loan Repayments During Residency article for helpful tips.