Getting loans during residency

[McGeorge]

I'm a PGY2 in a city with high cost of living, and am being stretched financially. Does anyone have experience taking out loans during residency to cover living expenses? Where did you go for the loan, how much was available, and what were the terms like? Would you recommend the lender you used?

Would appreciate any advice - didn't see much on this topic posted in the last few years.

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[JJMrK]

Finding a roommate or decreasing your expenses are probably much better options for long term financial happiness.

 

[drcrispmd]

Also cutting out or down on cell phone plan, cable, internet speed, using your utilities wisely, etc can help too. If you are paying loans, you may be able to defer them through residency; however, interest that accumulates will be capitalized. Also if you are one of those residents who went out an bought a brand new car, you may want to consider something cheaper.

Suntrust has physician loans. There are places that have residency and relocation/board review loans. Citibank used to have one. I think maybe Wells Fargo. Trying google residency loans.