Financial aid often falls short when it comes to covering the unique expenses dental students face. While federal education loans are available during dental school, they only cover costs included in the school’s cost of attendance, excluding residency. Consequently, many dental school graduates turn to private loans. These loans can help cover expenses like dental board exam preparation, residency interviews, relocation, and other essentials such as housing, transportation, and groceries.
Dental Residency Relocation Loan Features
- Borrow up to $15,000 or $30,000, depending on the lender
- Up to a 15-year repayment term, with no prepayment penalties
- Payments may be deferred for up to 7 years during the residency
- Cosigner release option may be available after 12 to 48 consecutive, on-time payments
- Fixed or variable interest rates are available
Best Private Student Loans for Dental Residency and Relocation
Edvisors (Edvisors Network, Inc.
) provides independent advertising-supported platforms for consumers to search compare and apply for private student loans.
- Competitive APRs starting at 3.24%1
- Coverage up to 100% of your school-certified cost of attendance ($1,000 minimum) 2
- Apply online in 3 minutes and get an instant credit decision
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
2As certified by your school and less any other financial aid you might receive. Minimum $1,000.
3This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 05/29/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
- Get your rate in about 2 minutes4
- 4x more likely to be approved by applying with a qualified cosigner5
- No Application or Origination Fees
1Student Loan Rate Disclosure: Variable interest rates range from 4.99% - 15.60% (4.99% - 15.61% APR). Fixed interest rates range from 3.99% - 15.60% (3.99% - 15.61% APR).
2Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.
3Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: personal checking, personal savings, personal credit card or previous student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DC, DE, FL, MA, MD, MI, NH, NJ, NY, OH, PA, RI, VA, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
4Get My Rate: Selecting “Get My Rate” only requires a "soft credit pull" which does not affect your credit score. Submitting a full application will result in an inquiry on your credit report.
5Citizens Undergraduate Booked Loans from 10/1/2023 through 9/30/2024 were 4 times more likely to be approved with a qualified cosigner.
6Multi-Year Approval: Funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, you must continue to meet eligibility criteria to obtain additional funds under the Multi-Year Approval feature. Terms and conditions are outlined in the promissory note. Multi-Year Approval borrowers have a 99% approval rate on future requests for additional funds. The additional funds approval rate is based on the percentage of approved Multi-Year borrowers from Citizens between October 1, 2023 and October 1, 2024. The approval rate represents only borrowers who had previously accepted the Multi-Year Approval offer. Please Note: International students are not eligible for Multi-Year Approval.
Information advertised valid as of 05/01/25. Rates and offer subject to change. All accounts, loans and services subject to individual approval.
© 2025 Citizens Financial Group, Inc. All rights reserved. Citizens is a brand name of Citizens Bank, N.A. Member FDIC
Dental Residency Relocation Loan Eligibility Requirements
Dental Residency and Relocation loans are available to students in their final year of dental school and for twelve months following graduation.
Since residency and relocation loans are private student loans, they have the same eligibility requirements you may have encountered with in-school private loans:
- If the borrower is not a U.S. citizen or permanent resident, a creditworthy cosigner who is a U.S. citizen or permanent resident will be required.
- If the borrower is the sole applicant, they must have reached the age of majority in his/her state of residence. The borrower must be at least 18 years old in all states with the exception of age 19 in Alabama and Nebraska and age 21 in Indiana, Mississippi, New York and Puerto Rico. If a borrower does not meet the age of majority requirements in their state, a creditworthy cosigner will be required.
- The borrower must satisfy credit criteria. If the borrower does not have satisfactory credit, a creditworthy cosigner will be required.
Is There a Credit Check for a Dental Residency Relocation Loan?
The credit history of both the borrower and cosigner will be checked, regardless of whether the cosigner is optional or required. Eligibility and interest rates and fees may be based on the higher of the two credit scores. So, even if a borrower could qualify for a private student loan on his or her own, adding a cosigner may yield a lower interest rate.
What Will My Interest Rate Be?
The interest rate may be fixed or variable. A fixed rate remains unchanged for the life of the loan. A variable rate changes periodically, typically on a monthly or quarterly basis, meaning your payment amount may fluctuate as well.
You will not know what your interest rate will be until you contact your lender of choice and begin the application process. In general, the stronger your credit or your cosigner’s, the lower your interest rate will be.
Dental Residency and Relocation FAQs
Who is eligible for a dental residency and relocation loan?
Eligible borrowers are those who are enrolled in their final year of school or have recently graduated from medical or dental school, typically within the past twelve months. Check with your prospective lender for other eligibility requirements.
Is there a federal loan option to cover my residency and relocation costs?
No. There is no federal loan program in place to cover these types of expenses. However, if you already have unused federal student loan funds, those funds may be used toward relocation for your residency.
Can I borrow a dental residency and relocation loan with bad credit?
It will be difficult to get approved for a residency and relocation loan with bad credit. However, you always have the option of applying with a creditworthy cosigner. Even if you qualify without a cosigner, getting a cosigner may give you a better interest rate.
Is there a limit to how much I can borrow?
Typical limits for this type of loan are $15,000 to $30,000 depending on the lender you choose.
Can I defer my payments during residency?
You may have the option to postpone your loan payments during your residency. Reach out to your lender(s) to determine your eligibility for loan postponement. Interest will likely accrue during this time, so we recommend making payments if possible.
Do you have to pay back loans during residency?
Because you can defer payments during your residency, you do not have to pay back loans during that time. However, remember that interest will accrue throughout the life of the loan.
Can I use a cosigner for a dental residency and relocation loan?
Absolutely. In fact, using a creditworthy cosigner may help you qualify and get a better interest rate.
What are the repayment terms for a dental residency and relocation loan?
You should expect a repayment term of up-to 15 years with no prepayment penalties. This means you will not be charged any additional fees for paying your loan off early. Note, the earlier you pay your loan off, the less you will pay in interest.
How are residency and relocation loans disbursed?
Unlike student loans, a residency and relocation loan is disbursed directly to you in the form of a check or direct deposit.
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