MedEX loans for residency interviews

Started by obgyn06
Get help with your application

Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.

Browse articles Compare schools My application plan Read Interview Feedback
Practice for interviews Ask an Advisor
O

obgyn06

Member
10+ Year Member
5+ Year Member
15+ Year Member
Hey there -
Does anyone know if the MedEX loans (through Medloans) are disbursed directly to the student or if they go through the university first. These are the special 4th year med student loans for residency interview and relocation. Thanks!
obgyn06
 
I received the disbursements directly - I borrowed the max $12,000 from them.
 
Blade28 said:
I received the disbursements directly - I borrowed the max $12,000 from them.
Click to expand...


I got a check in the mail too. Be careful though, the interest rate on the loan is variable and with the stupid fed jacking up interest rates you'll see your interest rate go up. I think at the begining of my fourth year the rate was 6.0 and it's now 7.5 or 7.25 (can't remember) so I would take out just what you need.
 
Yup, we were all lucky in that we graduated before July 1st, 2005, when interest rates climbed quite a bit.
 
Obviously there are rules on how these loans must be used. How is this tracked? Can we use the loans for family members (me and our daughters) to travel to interview cities or is it strictly for the medical student only? Relocation expenses would apply to the whole family.

We took out the max too, but I guess you can always cancel the un-used portion.
 
lovemydrhubby said:
Obviously there are rules on how these loans must be used. How is this tracked? Can we use the loans for family members (me and our daughters) to travel to interview cities or is it strictly for the medical student only? Relocation expenses would apply to the whole family.

We took out the max too, but I guess you can always cancel the un-used portion.
Click to expand...

.
 
lovemydrhubby said:
Obviously there are rules on how these loans must be used. How is this tracked? Can we use the loans for family members (me and our daughters) to travel to interview cities or is it strictly for the medical student only? Relocation expenses would apply to the whole family.

We took out the max too, but I guess you can always cancel the un-used portion.
Click to expand...


I used the first loan (sallie mae) to get two tickets to go to europe in the spring with my girl and got the second loan (medex)to get me a beemer. life is short. Live it up!
 
You must log in or register to reply here.