Residency

Tip of the week: Help residents manage loans

Residency Program Insider, May 22, 2007

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Residents should know their grace periods, deferment options, and forbearance options. These tools will help residents manage loans throughout residency and will most likely vary by loan type. They may even vary depending on when a resident borrowed them and from which lender or loan program.

Once grace, deferment, and forbearance options are used and exhausted, residents should be given a number of repayment options. Residents should be sure to know:

  1. The monthly payment amount

  2. Estimated total repayment amount for any option chosen



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