Developing a Strategy to Repay Your Medical Student Debt

by Emily Geitner on Apr 26, 2016, 7:30:00 AM


When our loan specialists talk to borrowers, they often hear, “I need help managing my medical student debt. Can you provide me with any loan repayment strategy tips? 

Developing a strategy for medical student debt can be difficult because debt levels are often incredibly high, often with total repayment occurring years, if not decades in the future. If you’re in a similar situation, it’s understandable that you are concerned about how best to tackle your medical student loans. Today we discuss how to develop a strategy that will help you repay your medical student debt. 


It’s important to understand the details of your student loans. You might want to make note of how much you have borrowed and who your lenders are, as well as the monthly due dates for each of your loans.

For example, you may want to know if you have only federal loans or if you have a mix of federal and private student loans. If you have both, you might want to write down details about each of the loans separately.


Taking a closer look at your repayment objectives is a great second step. For example, your goal may be to pay down your debt as fast as you can, or maybe you would prefer to make the minimum payments, especially while you are in residency and fellowship with a limited income.

It may be a good idea to visit these repayment goals regularly as your life and career situations change. For instance, your student debt repayment objective may make sense today, but it might not once you’re an attending physician.


Once you’ve assessed your goals, you may want to choose a repayment plan to meet your set objectives, which may be different from your peers. Therefore you may want to tailor your medical student debt repayment strategy to your specific needs.

Refinancing your student debt could be an option for your repayment strategy. Refinancing means you apply—and become approved—for an entirely new loan with a different interest rate, maturity schedule, and schedule of monthly payments. Your new lender pays back your existing student loan(s) and issues a new loan at a lower interest rate, with a lower monthly payment.

The advantage of refinancing can be the potential to save money on interest and to possibly shorten the term of the loan, too. You may also want to find a loan which has the best interest rates and lowest fees possible for your needs.

We understand you have unique needs at different stages in your careers—from residency and fellowship, to work as a practicing nurse or physician. Our refinancing programs are tailored to your specific profile—credit score, earning potential, and career stage.

If you’d like to better understand what’s involved in refinancing your student loans or have questions about the LinkCapital student loan refinancing programs, give us a call.

We’re here to help you make better decisions when it comes to managing your student debt repayment strategy.

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This post was written by Emily Geitner

Emily is Director of Operations & Marketing for LinkCapital and responsible for managing the company’s day-to-day operations as well as leading strategy, marketing, and user experience for all Link consumer products.