med. school loan for a (way) older student?

Hi all,

will anyone in this forum in their 40-50-s who’s currently in med/do school and who was able to get a med. school loan? The $$$ would probably approximate the cost of a modest house :o Providing there are no other obstacles like poor credit history, illness or unemployment, would age be a factor?

I plan to meet with a rep. from my local bank next week, but thought I would get an idea from you guys :wink:


Check out Student loans from the fed gov are what a lot of people use, especially because you can defer payments until you’re making money. Not sure if you are eligible due to the other qualifications but I’m pretty sure they can’t discriminate for age.

Private loans - no idea.

In general, it’s better to go for Stafford and Grad PLUS loans first with the protections, income-based repayment plans and deferments offered by the federal government. After that, if you absolutely need private loans, try starting with a credit union. You’ll want to hunt for the best terms possible, not just for interest rate, but for income-based repayment. Otherwise residency is going to be financial misery.

Thanks so much! After doing some research i’ve learned that default rate on med. school loans is very low :):):), hence chances are good. Still, if banks are lending close to half a mil., it makes sense that they would take your age into consideration. Unlike in case of mortgage, when the house is owned by the bank and age is not as important, when giving you a med. school loan bank owns only a promise… So, when you are 24-27, promise is excellent, however when applicant is in their 50-s, odds may not be the same… But, of course, I need to get more info. including FAFSA.ORG.

Many thanks!