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MD Program

Repayment Options

Managing student debt effectively begins with choosing the right repayment plan. For personalized calculations, use tools like the MedLoans Organizer and Calculator (MLOC) or the Federal Student Aid Loan Simulator to determine which plan or program aligns with your career goals. We also recommend visiting the AAMC’s FIRST and U.S. Department of Education’s Federal Student Aid websites for the latest updates on these options. Loan Repayment Options and Loan Repayment and Forgiveness Programs are subject to change with the One Big Beautiful Bill Act recently passed.

Common Loan Repayment Plans Include

Standard Repayment: Fixed monthly payments over 10 years.

Extended Repayment: Lower payments stretched over a 25-year term.

Graduated Repayment: Payments that increase every two years.

Income-Driven Plans: Options like ICR, IBR, PAYE, REPAYE, and SAVE base payments on income and family size, offering forgiveness after 20-25 years.

Loan Repayment Options related to the One Big Beautiful Bill Act:

  • Legacy Borrowers with no new loans made on or after July 1, 2026, you are eligible to enroll in the current Standard, Graduated, Extended, or current Income Based Repayment plans (IBR) and may also opt in to the new Repayment Assistance Plan (RAP). Borrowers may also switch between, enter or remain on existing Income Driven Repayment (IDR) plans until July 1, 2028. 
  • New Borrowers with new loans made on or after July 1, 2026 can be repaid using only two plans: a new Standard Repayment Plan and the Repayment Assistance Plan (RAP). If a borrower with new loans made on or after July 1, 2026, does not select a plan, they will be assigned to the new Standard Repayment Plan. 
  • Loan Deferment Options – Economic Hardship and Unemployment Deferment will no longer be available as of July 1, 2027. 
  • Loan Forbearance – Loans made on or after July 1, 2027, are eligible for forbearance for up to nine months in any two-year period. 

Loan Repayment & Forgiveness Programs

In addition, you might qualify for loan repayment or forgiveness programs that can further reduce or eliminate your debt in exchange for service in specific fields or communities.

Faculty Loan Repayment Program: Provides up to $40,000 for faculty in eligible health disciplines.

Indian Health Services Loan Repayment: Up to $50,000 in exchange for service in American Indian and Alaska Native communities.

National Health Service Corps (NHSC) Loan Repayment: Offers up to $75,000 for primary care physicians serving in designated sites.

Pediatric Specialty Loan Repayment Program: For specialists serving in approved pediatric treatment facilities.

Public Service Loan Forgiveness (PSLF): Forgives remaining federal student loan debt after 120 qualifying payments in public service jobs.

Substance Use Disorder Treatment and Recovery Loan Repayment Program (STAR LRP): Provides loan repayment for professionals in SUD treatment roles.