Residency and travel relocation loans

The Residency and Travel Relocation Loans are private loans designed to assist students with the expenses associated with interviewing and the relocation process. 

These loans are intended to be utilized for Interview/Residency related cost since we do NOT add these costs to M4’s existing budgets.
These costs vary greatly for each student so it would be hard to estimate an overall cost that would best fit each individual.

Most lenders require similar criteria for student eligibility:

  • Be enrolled in the final year of medical school at an eligible school and will receive their graduate medical degree during the same academic school year as the loan;
  • Acknowledges that the funds from the loan will only be used to cover the expenses associated with their residency program, including the cost of interviewing for their residency program and the cost of relocating to the area where their residency training will occur;
  • Is a citizen or national of the U.S. or a permanent resident without conditions and with proper evidence of eligibility;
  • A cosigner may be required;
  • Is not currently or has not been in default on any of their educational loans;
  • Meets the lender’s established credit criteria for the Residency and Relocation Loan;
  • Agrees to the terms of the Application and Promissory Note;
  • Total education debt, including this type of loan, does not exceed the lender’s current program limits;
  • Has not and will not receive other loan funds from any other similar loan program for the purpose of covering expenses associated with their residency and relocation.

Some lenders also require a student to have a current or existing borrowing relationship through the lender already established.

Depending on the lender, some Residency and Relocation Loans have a 36 to 57 month grace period before repayment must begin.

Below are some links with information on Residency & Relocation Loans used by some students:


Sallie Mae

PNC Bank

General Information:

Students interested in applying for these loans should read the fine print, making sure they understand the repayment agreement with the lender. Students should follow the instructions listed by their lender. The Registrar may need to verify 4th-year enrollment before submitting an application to your lender. Once approved, funds will be directly disbursed to the student per the loan servicer’s guidelines. Please remember the Financial Aid Office is not directly involved in this particular loan process but we are happy to assist with any questions or concerns you may have.