General Questions +

Who is LinkCapital?

LinkCapital (“Link”) is a financial services company comprised of a team of experienced student loan origination and servicing professionals who are partnering with premier health care systems nationwide. Our purpose is to provide credit-qualified medical professionals -- including residents, staff physicians and others -- with alternative loan refinancing and consolidation programs to better manage their budget, loan repayment and potential savings opportunities. We’ve created an alternative to traditional refinancing and consolidation loans as our way of helping those who help others.

How does LinkCapital fund its loan commitments?

LinkCapital funds all loans with capital commitments from a variety of institutional equity and debt investors. Just like Link, these investors understand that medical professionals have superior credit risk attributes (steady employment, low loan default rates and well above-average incomes) and are extremely likely to repay their student loans on time. As a result, we are able to offer medical professionals attractive loan terms and interest rates.

Who is Aspire Servicing Center?

Customer service for borrowers is provided under the name Aspire Servicing Center by Aspire Resources Inc. employees. Aspire Resources Inc. is a wholly owned, for-profit subsidiary of Iowa Student Loan created to perform functions not specifically included in Iowa Student Loan's original tax-exempt designation.

Who is CampusDoor?

Located in Carlisle, Pennsylvania, CampusDoor is the loan originator for LinkCapital and manages every step from loan application to the disbursement of funds.

Pre-Application Questions +

What is the difference between loan consolidation and refinancing?

Refinancing is applying and becoming approved for an entirely new loan with a new interest rate, maturity schedule and schedule of monthly payments, with existing student loan(s) completely paid off. Consolidation is combining multiple existing student loans into one new loan. To read more about the difference between consolidation and refinancing, check out our blog post on these differences.

Should I consolidate or refinance my student loans?

Fortunately, you don’t have to choose between loan consolidation and loan refinancing at LinkCapital. A refinanced loan is also a consolidation loan. We take the existing loans, consolidate them, and provide a new loan terms and competitive interest rate choices.

I’ve already consolidated my loans; can I still refinance through Link?

Yes, Link can refinance previously consolidated loans at any time, potentially providing a lower interest rate.

Who can refinance with LinkCapital?

Medical professionals who have completed at least one-year of graduate training in an accredited residency/fellowship are eligible to refinance with the LinkCapital Medical Resident Refinance Loan Program. Medical professionals who have completed their post-graduate training can take advantage of the LinkCapital Medical Professional Refinance Loan Program 

Medical professionals include, anyone who is:

Able to demonstrate that he or she has obtained a Master’s or Doctorate degree from an institution that is Title IV Federal financial aid eligible and that such degree is one of the medical professional degrees listed below (or the equivalent, in the determination of the Lender):

Doctor of Medicine (MD or DM)
Doctor of Osteopathic Medicine (DO)
Doctor of Dental Medicine (DMD)
Doctor of Dental Surgery (DDS)
Master’s in Nursing (MSN)
Doctor of Nursing Practice (DNP)
Master’s in Physician Assistant Studies (MMS, MHS or MPAS)
Doctor of Pharmacy (Pharm. D.)
Doctor of Podiatric Medicine (DPM)
Master’s Degree in Perfusion Sciences (MPS) or Cardiovascular Perfusion (MS in Cardiovascular Perfusion)
 

If you are not sure if you are eligible, please contact LinkCapital at (844) 226-5465.  Our customer service line is open from 8:00 a.m. to 6:00 p.m. CST Monday - Thursday and 8:00 a.m. to 4:30 p.m. CST on Friday.

Are there eligibility requirements to refinance through LinkCapital?

To be eligible for a LinkCapital loan you must meet the following criteria:

  • Be a US citizen;
  • Be at least 18 years of age;
  • Be a college or medical school graduate working as a Medical Professional; and
  • If you are currently in an accredited post-graduate training program, have completed at least one-year of post-graduate training.

Eligibility also depends on a number of other factors including credit score, income and employment status.

Is now the right time to refinance?

We recommend that medical professionals refinance as early as possible to lock in competitive interest rates, avoid accruing interest at higher rates and take advantage of our flexible repayment terms. However, it’s never too late to refinance and capture these savings.

Is LinkCapital the right choice for me?

While the opportunity to take advantage of competitive interest rates and flexible repayment terms is the right choice for many, some Federal loan borrowers may lose their ability to participate in certain features and benefits of Federal repayment programs. If these Federal options are important to you, please check with your loan servicer before refinancing.

How do I apply for a LinkCapital loan?

Easy! Apply through our online portal.

Program Questions +

What is the difference between the Medical Professional Refinance Program, the Standard Resident/Fellow Program and the Contracted Resident/Fellow Program?

The Medical Professional Refinance Program is designed for qualified medical professionals who have completed their post-graduate training. This program offers the lowest interest rates (both fixed and variable) that LinkCapital has to offer and borrowers immediately enter repayment on the loans pursuant to their selected term.

The Standard Resident/Fellow Program is designed for residents and fellows who have completed at least one-year of post-graduate training. This program offers competitive fixed interest rates as well as a partial payment deferral through a required monthly payment of $75.00 that is directly applied to accrued interest and, if applicable, principal. The monthly payment may increase or decrease after the partial payment deferral period. Borrowers in this program may be eligible for an interest rate reduction once in repayment (please note this interest rate reduction will not change the required monthly payment).

The Contracted Resident/Fellow Program is designed for a resident or fellow in the last year of a Medical Residency Program who has a signed contract for employment to start within 12 months of the loan application. This program offers competitive fixed interest rates as well as partial payment deferral for a period of up to 12 months through a required monthly payment of $75.00 that is directly applied to accrued interest and, if applicable, principal. The monthly payment may increase or decrease after the partial payment deferral period.

Additionally, in the Standard Resident /Fellow Program, the borrower will be eligible for an additional interest rate reduction once loan repayment begins and the first scheduled payment during the repayment term is made on time.

What is the difference between fixed and variable interest rate loans?

A fixed interest rate loan has a set interest rate throughout the life of the loan and will not change, with the exception of interest rate reductions from borrower benefits such as auto-debit. Fixed interest rates may provide a sense of stability because each monthly payment remains the same.

Variable interest rates are determined using a formula, usually a set interest rate plus a market rate index such as Prime or Libor (London Interbank Offered Rate). Variable rates may change daily, monthly, quarterly or annually depending on the formula used. Because these rates may fluctuate over time based on financial markets, your minimum monthly payment amount may change based on the rate being charged for that time period. If you have questions about fixed and variable interest rates, check out our blog post or call us at (844) 226-5465.  Our customer service line is open from 8:00 a.m. to 6:00 p.m. CST Monday - Thursday and 8:00 a.m. to 4:30 p.m. CST on Friday.

Does LinkCapital offer both fixed and variable interest rate products?

Yes, LinkCapital offers both fixed and variable interest rate products.

What is the difference between an interest rate and annual percentage rate (APR)?

The interest rate is an annual percentage charged on the principal balance of the loan to cover the cost of borrowing, and may fluctuate depending on the borrower’s credit profile. APR represents a borrower’s total cost of borrowing, including the interest rate, and certain additional fees that are charged by the lender. Referring to the APR of a loan is the most appropriate measure of its total cost.

Does Link refinance both Federal and private student loans?

Yes, LinkCapital refinances all qualifying student loans.

A qualifying student loan is a loan taken out solely to pay for qualified education expenses, as defined in the Internal Revenue Code. Loans taken out by a parent or guardian do not qualify for refinancing unless the parent or guardian meets Link’s loan criteria and is refinancing him or herself.

Does Link charge application or origination fees?

No, LinkCapital does not charge application or origination fees.

What are the minimum and maximum amounts I can refinance?

The minimum amount a LinkCapital borrower can refinance is $40,000 and the maximum is $450,000.

Does Link accept co-signers?

Yes, LinkCapital accepts co-signers. If an applicant does not meet our minimum credit criteria, they may apply with a co-signer, if that co-signer’s credit profile and FICO (credit) score meet our lending criteria. The borrower and co-signer are both fully liable for repaying the loan in full, except in the event of death or total and permanent disability.

I’m married; can my spouse and I consolidate & refinance our loans into one?

No, married couples are unable to consolidate their loans into one.

What do I need to confirm my residency or fellowship?

Applicants for the Standard Resident/Fellow Program or Contracted Resident/Fellow Program need to provide a residency or fellowship letter, which includes information on their area of specialization and provides a training completion date.

What do I give up by refinancing in a LinkCapital program?

By refinancing with LinkCapital, Federal loan borrowers may give up the opportunity to access certain government forgiveness and repayment options such as Public Service Loan Forgiveness (PSLF) or Income-Based Repayment (IBR).

Application Questions +

How long does the application process take?

The application process should take approximately 35 minutes to complete if you have all of the necessary documentation outlined below. 

What do I need to apply?

To apply for a LinkCapital loan, you will need to gather the following information and documents prior to beginning the application:

  • Current Lender Name(s)
  • Current Servicer Name(s)
  • Servicer Account Number(s)
  • Loan Number(s)
  • Current Loan Balance(s)
  • Current Interest Rate(s)
  • Monthly Payment(s)
  • Social Security Number
  • Permanent Physical Address
  • Driver’s License
  • Basic Financial Information such as….
  • Contact Information for One Personal Reference
  • Income Verification (two most recent pay stubs)
  • Graduation Verification
  • Loan Payoff Letter(s)

Can I stop the application mid-process and resume again later?

Yes, our application allows an applicant to start and stop the process as needed. Once the first page of the application is completed, select “Continue and Save”. To access the application again, select “Continue Application”.

If I have questions during the application process, whom do I contact?

If you have questions during the application process, please call Link at (844) 226-5465. Our customer service line is open from 8:00 a.m. to 6:00 p.m. CST Monday - Thursday and 8:00 a.m. to 4:30 p.m. CST on Friday.

Our office will be closed in observation of the following holidays: New Year’s Day, Martin Luther King Jr. Day,  Memorial Day, Independence Day, Labor Day, Columbus Day, Thanksgiving Day, Day after Thanksgiving, Christmas Eve and Christmas Day.

How soon will I know if my application was approved or declined?

You will receive an initial decision upon completing the application that will then prompt you to upload the necessary supporting documentation. A final decision is rendered within three business days of that documentation being submitted.

Why was my application to refinance loans through LinkCapital declined?

LinkCapital strives to provide financial solutions to medical professionals but realizes that not all applicants will fit into our loan program criteria. Applicants must meet a minimum FICO (credit) score & debt-to-income ratio as well as pass employment verification, amongst other criteria.

Where can I find 10-day pay-off instructions specific to my current loan servicer?

Payoff information for common loan servicers can be found on our website. Contact your servicer directly for more information on 10-day payoff instructions.

Repayment Questions +

Do the Standard Resident/Fellow Program and Contracted Resident Fellow Program offer full deferment through residency and fellowship?

Yes!

In the Standard Resident/Fellow Program payments of principal and interest are partially deferred during residency and fellowship (as defined in your resident or fellowship letter provided during application) and the grace period, through a required monthly payment of $75.00 that is directly applied to accrued interest and, if applicable, principal. The maximum deferment period in the Standard Resident/Fellow refinance Program is 6 years (72 months).

In the Contracted Resident/Fellow Program, payments of principal and interest are partially deferred during residency and fellowship and the grace period through a required monthly payment of $75.00 that is directly applied to accrued interest and, if applicable, principal. The maximum deferment period in the Contracted Resident/Fellow Program is 1 year (12 months).

Does interest accrue during deferment?

Yes. By locking in a lower interest rate now, the amount of interest accrued over residency and fellowship will be lower. All accrued and unpaid interest will capitalize and be added to the principal balance of your loan at the end of the deferment period.

Can I make voluntary payments while in deferment?

Absolutely. If you would like to make voluntary payments while in deferment, you can do through one of these methods:

1. Via your online account at https://myaccount.studentloan.org

2. By calling (800) 243-7552 between the hours of 8:00 a.m.– 8:00 p.m. CST Monday–Thursday and 8:00 a.m.– 5:00 p.m. CST on Friday.

3. In person at Aspire Servicing Center, located at 6775 Vista Drive, West Des Moines, IA 50266-9305. Hours of operation are 8:00 a.m. – 4:30 p.m. CST Monday-Friday.

Please note that auto-debit is unavailable for voluntary payments made during a deferral period.

Is there a Grace period after a residency or fellowship deferment?

Yes, both the Standard Resident/Fellow Program and Contracted Resident/Fellow Program offer a 3-month grace period. During this period, billing statements will indicate principal and accrued interest balances and will state the current payment due as $75.00. Full payments of principal and interest are required after the expiration of the grace period.

Where can I see my LinkCapital loan account summary or make a payment?

To view an account summary, use the LinkCapital portal.

You can make a payment through one of the methods below:

1. Via your online account at https://myaccount.studentloan.org

2. By calling (800) 243-7552 between the hours of 8:00 a.m.– 8:00 p.m. CST Monday–Thursday and 8:00 a.m.– 5:00 p.m. CST on Friday.

3. In person at Aspire Servicing Center, located at 6775 Vista Drive, West Des Moines, IA 50266-9305. Hours of operation are 8:00 a.m. – 4:30 p.m. CST Monday-Friday.

Is there a discount for paying through auto-debit?

Yes, LinkCapital offers a 0.25% interest rate reduction for enrolling in auto-debit. Borrowers can sign up for auto-debit after the first month of repayment and a 0.25% auto -debit deduction will be automatically applied to the interest rate. The monthly payment will not decrease, but interest paid during the life of the loan will be less. For residents and fellows, auto-debit and the 0.25% deduction can be applied for at the end of the deferral period.

How do I enroll in the Auto-Debit Deduction Program?

To enroll in for auto-debit, please log in to your Aspire Servicing Center account, download the authorization form and follow the instructions for submission. Please note: it may take up to 60 days after the form is submitted for enrollment to finalize. Payments may need to be submitted by mail, online or over the phone until enrollment has occurred and the borrower is notified.

Can I prepay my loan without incurring a prepayment penalty?

Yes, LinkCapital does not charge a prepayment penalty. 

Is there a late payment fee?

There are no late payment fees. If your payment is not received on or before its due date, subject to any applicable grace period, your loan may become delinquent.

What happens if I experience a financial hardship?

LinkCapital offers flexible deferment for hardship, natural disaster and other emergencies. As part of our borrower support and education programs we reach out to and contact borrowers whose loan payments are past their due dates; our goal is to reduce the likelihood of default, which could result in a severe negative impact on a credit profile and the ability to qualify for other types of financing, including auto loans and mortgages. Link trusts its borrowers to uphold their commitments and will work with them when circumstances make that difficult.

What happens to my loan in the event of a death or total and permanent disability?

In the unfortunate event of a borrower’s death or qualifying total and permanent disability, the loan will be forgiven and neither the cosigner(s) nor the borrower’s estate will be required to satisfy the loan.

In addition, a cosigner will be released from his or her obligation should a qualifying total and permanent disability occur. In the event of a cosigner’s death or qualifying total and permanent disability, the borrower will not be required to find a new cosigner but will still be responsible for repaying the loan.

Are LinkCapital loans considered “student loans” for tax purposes?

Yes. LinkCapital loans are considered student loans for Federal and state tax consideration. However, not all borrowers are eligible for interest deduction. Please consult your tax advisor for more information.

I have questions about my loan payments, who do I call?

If you have questions about your LinkCapital loan payments, please call Aspire Servicing Center, LinkCapital’s loan servicer, at (800) 243-7552. Aspire Servicing Center's Customer Service line is open from 8:00 a.m.– 8:00 p.m. CST Monday–Thursday and 8:00 a.m.– 5:00 p.m. CST on Friday. 

I still have questions; can someone help me better understand?

Yes, LinkCapital provides access to a Loan Specialist Team, available by calling (844) 226-5465.

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