STUDENT LOAN PROGRAM

• 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 interview will be required with a Trustee of the Texas Medical Association

How to Apply

• The medical schools financial aid offices determine student’s eligibility for these funds
• Students must apply through their medical school’s Financial Aid Office
• An in-person interview with a TMA Trustee is required
• Upon approval, a check will be mailed directly to the student

RESIDENT PHYSICIAN LOAN PROGRAM

• Loans are available to physicians in any year of postgraduate training
• A resident physician may borrow up to a maximum of $3,000
• The residency must be in an accredited program within the state 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, or 36 months on a $3,000 loan.

How to Apply

Resident physicians may apply for a loan through the Texas Medical Association and must obtain an application available  here   . 

The following items must be completed and received by TMA:

• Completed application 
• Promissory note 
• Verification of residency status 
• Credit history 
• An interview with a TMA Trustee