The following examples depict loan examples for both of our programs.
The first table is for our medical consolidation loan program for residents/fellows. This table depicts the APR, monthly payment, years in the $1 per month training period (with Grace Period) and total payments during the life of a $189,000 private loan with a single disbursement. The rate in residency & fellowship is 5.54% for all borrowers. The 5.29% interest rate is the rate for once the borrower has finished residency/fellowship and has entered the re-payment period of the loan. The 5.29% rate assumes an ACH discount of (0.25%). There is an origination fee of 2.5% for this product and no pre-payment penalties.
The second table is for our medical consolidation loan program for doctors. This table depicts the APR, monthly payment and total payments during the life of a $189,000 private loan with a single disbursement. The interest rate is 5.29% for all borrowers and assumes an ACH discount of (0.25%). There is an origination fee of 2.0% for this product and no pre-payment penalties.
RESIDENCY AND FELLOWSHIP REFINANCE LOANS FIXED RATE
The displayed interest rate of 5.71% APR is inclusive of a 0.25% discount for making automated payments. Without that discount, the APR would be 5.96%. The discount is not available for a borrower, regardless of automated payments, while a borrower is in residency or fellowship. Please see our APR comparison page for further details. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Not all applications will be approved. To qualify for a loan, you must have a responsible financial history. You must be a medical professional who has completed or is currently in a residency or fellowship program. The maximum loan amount is $350,000 and the minimum loan amount is $25,001.
Loan or savings calculators are offered for your own use and the results are based on the information you provide. The results of this calculator are only intended as an illustration and are not guaranteed to be accurate. All figures are estimates only and are not guaranteed to be accurate. Actual payments and figures may vary.
The information you provide us for the loan request service is not an application for a loan or a request to be pre-approved, pre-qualified, or any similar concept. We do not guarantee acceptance into any particular loan program or specific loan terms or conditions with any lender.
Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans do carry some special benefits, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. Benefits that exist with federal loans could be forfeited by consolidating them into a private loan.