Residency relocation loans

[PediaSure]

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I don't know whether this belongs under FA or residency, so here goes... Does anyone have experience with the private loans provided by TERI or SunTrust Bank Physician signature loans? I have received brochures for both. If you have an opinion on these loans or any other private loans, please reply.

Relocation is a expensive. I read in an earlier post that we should not expect a paycheck until August. How the hell can I live until then!😡

 

[Annette]

Key bank also has relocation loans. I think AMSA might also have something available. Check out the rates carefully. One place I saw had a very low interest rate, but added 6% when the loan goes into repayment, and 2% when the funds are dispursed!

I decided that I'd take out yet another loan because there is no way that I could manage on what I have in reserve! Security deposits, moving (even though I'm going to be reimbursed, the movers are gonna want their money up-front), furniture, etc.

 

[wanttocut]

Does anyone know if relocation loans, other than the medex loans, can be deferred like our medloans? I would appreciate any info on such loans. thanks
P

 

[girlwithaknife]

I have seen residency loans available from Medloans (Bank One?) and Citibank that both seem very reasonable. I decided to go with Citibank because you can take out more ($12000) and they don't take any fees out of the check before they send it to you, but you do end up with a slightly higher interest rate. I don't know if you can defer these or not, but the repayment ends up being something like $100-200/month, so you might as well start paying it off now before you have to start paying back the big loans.