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Residency and Relocation Loans

Students enrolled in dentistry, medical, pharmacy and certain other disciplines may be eligible for a Residency/Relocation Loan. Residency loans are private loans that are for expenses related to for interviews and relocating for a residency or internship. Students can generally apply one year prior to graduation and up to one year after graduation. Please note that you are not limited to the lenders listed on this page. Please refer to your lender for specific eligibility requirements and terms.

What is an alternative student loan?

An alternative, or private, student loan, is a credit based supplemental education loan by private lenders to help “fill the gap” between your cost of attendance (COA) and what the Financial Aid Office can award. Because alternative student loans are not subsidized by the federal government, they generally have a higher interest rate than federal loans. Students may be required to apply with a co-borrower.

Most alternative student loans require the Financial Aid Office to certify the loan so that the student does not borrow more than their cost of attendance. The Financial Aid Office can help you determine your eligibility for an alternative student loan. Alternative loans to pay costs associated with residency, relocation or board exams expenses often do not require school certification.

Will my credit be considered?

Yes, students and co-borrowers (if required) must meet the lender’s established minimum credit criteria. Lenders may consider a number of factors when determining loan eligibility such as credit-worthiness, debt-to-income ratio, and Students and co-borrowers can obtain a copy of their credit report from any of these major credit reporting agencies:

Equifax

Experian

TransUnion

How to Evaluate and Choose a Lender

If you make good choices about lenders right from the start, the whole process will go more smoothly, from application to that final payment. You'll want to compare the following aspects of lender services when deciding which lender to choose:

Interest rates, fees and terms: How is your interest rate calculated? Can I get a better interest rate by applying with a co-signer? Are there any additional fees for this loan? What are the terms of the loan?
Customer service: Can you reach a live operator quickly to check on the status of your loan during hours convenient for you?
Loan application processes: Can you apply online? Is instant loan approval offered?
Repaying your loan: How soon do I have to start repaying the loan after graduation or dropping below half-time status? Does the lender offer deferment or forbearance options while I’m in school and after graduation?
Early payment: Are there any penalties for paying off the loan early?
Repayment plans: What repayment plans and options are available?
Repayment incentives: What incentives does the lender offer for borrowers who pay on time or make loan payments electronically?

Recommended Lenders

Students seeking a loan to cover residency, relocation or board exams must initiate the process by contacting a lender of your choice. If your lender requires the school to certify your enrollment or expected participation in a residency or internship program, please contact our office. Funds will be sent directly to you.

Residency/Relocation Loans

(Apply using School Code 004508-00)

Listed below are links to lenders used by students at UCD Anschutz Medical Campus over the past academic year.
We encourage you to utilize the information in the “How to Evaluate and Choose a Lender” section above
when selecting your lender. Please note that you are not limited to the lenders this list.
Please refer to your lender for specific eligibility requirements and terms.