Make sure to have information about the current educational loan you wish to refinance on hand prior to getting started. CLICK HERE for instructions for finding payoff documents at the most common loan servicers. If you have questions during the process feel free to call one of our Link loan specialists at (844) 226-5465.
|Lender Name||Monthly Payment||Basic Financial Information|
|Servicer Name||Approximate Credit Score||One Personal Reference|
|Servicer Account Number||Social Security Number||Income Verification (two pay stubs)|
|Loan Number||Permanent Address||Graduation Verification (diploma)|
|Current Loan Balance||Driver's License||Loan Payoff Letter|
|Current Interest Rate|
Step 1: Visit LinkCapital.com. Visit linkcapital.com to learn about our program features, read through our most frequently asked questions, calculate your savings and ultimately determine if one of our products is the right fit for you (there are three programs currently offered; the Medical Professional Refinance Program, the Standard Resident/Fellow Program and the Contracted Resident/Fellow Program).
Step 2: Get Started - Initial Review. Create an account at linkcapital.com and enter your information.
The sample payoff letter below can help guide you as you enter your loan information.
[ servicer number = 111111; loan number = 0000000000000001 ]
You’ll upload your loan documents in step three, so save them now!
The email address you provide is where you’ll receive updates about the processing of your loan application.
For employment information, enter your current salary—unless you are a resident or a fellow. Residents and fellows should input projected salary upon completion of your program.
Note: You will see a loan interest rate and fee example - this is an example only and does not reflect your anticipated interest rate.
Once you complete the first part of the application, you will receive an initial approval or denial based on your debt-to-income ratio and FICO score. If you are not approved, contact a Link loan specialist to discuss options—such as applying with a co-signer. If you have a co-signer, they will need to create an account with LinkCapital and input the same information as listed in step two.
If you received an initial approval, proceed to next step.
Step 3: Upload Documentation. Upload loan, personal, and employment documentation, including:Payoff Statement for each student loan being consolidated (include balance, account number, and borrower name—all on the same document from your current servicer website).
» If you cannot find this information on your servicer’s website, call and request it be sent to you via email.
» Request a statement with the payoff amount for each loan within 30 days from your application date.Graduation Verification (photo or copy of diploma, letter from school, or transcript).
» All borrowers need to have graduated from a school that is Title IV federal financial aid eligible. The document needs to state the borrower's name, school, degree, and date of graduation.Residency Verification (applies to the Standard Resident/Fellow and Contracted Resident/Fellow programs only).
» Include documentation that verifies proof of residency or fellowship and states: borrower's name, name of medical institution/residency program, specialty, expected completion date for the entire program, and current program year of training (i.e. PGY-2/R2 or higher).Employment Contract (applies to Contracted Resident/Fellow program only).
» Include documentation demonstrating that you are in the final year of a Medical Residency Program (prefer to have this in Residency Letter).
» Signed contract for employment effective upon completion of the current/final year of residency. Contract must reference the start date of employment and it must be within the next 12 months. The contract must meet the criteria outlined in the Income Verification section below.Income Verification (two pay stubs from within the last 60 days containing the pay period or hours worked, employer name, your name, and year-to-date earnings.)
» If your pay stub does not include this information, provide a letter from your employer on company letterhead dated within the last 60 days stating your start date, salary, and status (full or part-time).
» Employer name on the income verification must match the employer name listed on the application.
» A letter, on company letterhead, will be required if the employer’s name does not match the name on the LinkCapital application in order to establish the relationship and clarify the name discrepancy.
Step 4: Finalize Your Application: Choose a refinancing option and select the repayment term by moving the slider. View your approval disclosure and accept the terms of your loan.
*You are not committing to refinance with LinkCapital until you sign your loan document.
*The image below shows a cost-estimator tool available in the application.
If enrolled in the Medical Professional Refinance Program, and after making your first on-time payment, you have the option to obtain a 0.25% interest rate reduction for making monthly payments via auto-debit. Please note that your monthly payment will not decrease, but your accrued interest will be lower.
For residents and fellows, the 0.25% auto-debit interest rate reduction will be available after your deferral period ends and you enter into repayment. Please note that you may be eligible for an additional interest rate reduction once you enter into repayment so long as your first payment is made within 20 days of its due date.
If you have any questions about these steps, checklists, or our programs, please call (844) 226-5465.CLICK HERE to download these steps.