The Commerce Bank
Medical Refinance Loan
A smarter way to repay your medical school loans.
Whether you’re seeking to lower your monthly payment, fast-track your debt pay down or simply want to know all your options —we’re here to help you find the right strategy to tackle your repayment goals.
Why refinance your medical school loans?
Lower your interest rate and monthly payment, reduce debts or pay down principal.
Consolidate your federal and private education loans into one monthly payment.1
No origination or prepayment fees.
0.25% autopay rate discount.2
Solutions for busy medical professionals
- Doctor of Nurse Practitioner (D.NP)
- Doctor of Medical Dentistry (D.M.D.)
- Doctor of Dental Science (D.D.S.)
- Doctor of Optometry (O.D.)
- Doctor of Podiatry (D.P.M.)
- Doctor of Osteopathic Medicine (D.O.)
- Doctor of Medicine (M.D.)
- Doctor of Physical Therapy (D.P.T.)
- Doctor of Dental Surgery (D.D.S.)
- Veterinary Medical Doctor (V.M.D.)
- Doctor of Veterinary Medicine (D.V.M.)
- Doctor of Pharmacy (Pharm. D)
Choose from low fixed or variable rates.
Variable APR3 from
2.125% to 6.00%5
Fixed APR4 from
3.625% to 7.50%6
20-year5 and 10-year6 terms available.
Rate offer of 2.125% APR assumes excellent borrower credit history and reflects a rate discount of 0.25% for automatic payments. Rates without automatic payment discount can range from 2.375% to 7.75% APR, depending on borrower credit history and repayment option chosen.
Basic Qualifications
Currently employed or have an employee contract pending by a medical hospital, practice or clinic.
Meet minimum debt-to-income and other basic credit criteria.
Qualified student loans between $30,000 - $500,000 for refinancing.
U.S. citizen or non-citizen permanent resident of the U.S.
How it works.
Find your rate and apply online.
Submit income and eligibility documents.
We pay off your existing student loans.
Prefer to speak to someone directly?
Fill out the form below and we’ll connect you with a client relationship advisor.
Contact UsHave more questions about medical school student loans?
Our Student Loan Advisory Services offer one-on-one guidance to help you navigate your repayment options with confidence and build your action plan.
Learn more
Should You Refinance? 4 Questions to Consider
5 Tips for Achieving Financial Security
Disclosures:
- For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.
- Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.
- If you choose a variable rate option your rate will vary with the market based on the 30-day average Secured Overnight Financing Rate (“SOFR”) as published by the Federal Reserve Bank of New York (“FRBNY”).
- If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.
- 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 5.375% will make 120 monthly payments of $323.73 for an estimated total in payments of $38,847.60. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 6% will make 240 monthly payments of $214.93 for an estimated total in payments of $51,583.20.
- 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 7.37% will make 120 monthly payments of $354.14 for an estimated total in payments of $42,496.80. 20-year fixed rate example: borrower with a $30,000 loan and a fixed APR of 7.75% will make 240 monthly payments of $246.29 for an estimated total in payments of $59,109.60.
Information advertised valid as of 11/18/2021
COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
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