National Association of Doctors

Loans are available to doctors in training as follows:
Aggreagate Loan amounts:1st. year - $20,0002nd year - $25,0003rd. year - $30,0004th. year & above - $35,000In Practice - $50,000
Interest Rate Introductory rate for all loans until August 2002 4.99%Thereafter, interest depends upon the amount borrowed, as follows:$0 - $9,999 Prime Rate + 7.99%$10,000 - $30,000 Prime Rate + 4.99%$30,001 & Over Prime Rate + 3.99%(Prime rate is based on Wall Street Journal rates. Current Prime Rate is 4.75% until 03/31/02)
Repayment Borrower can pay 1.5% of the total balance. For example; minimum monthly payment on a $10,000 loan is $150.
Contact National Association of Doctors180 E. Main Street, Suite 203Smithtown, NY 11787-28111-800-237-0270
P.L.A.T.O. Graduate Student Loan
Medical residents can borrow from $1,000 to $20,000 annually from the P.L.A.T.O. Graduate Student Loan, with an aggregate limit of $80,000. Eligibility for this loan is based on the resident’s debt-to-income ratio and credit report. Residents can also have a cosigner for this loan. Residents can apply by phone or on-line, and be pre-approved for the loan within five minutes.
Interest Rate First six months Prime Rate + 0%
Thereafter, based upon borrower’s/co-borrower’s credit history at time of application. Borrower is notified at time of application.Prime Rate + 0% to Prime Rate + 8.9%(Prime rate is based on Wall Street Journal rates. Current Prime Rate is 4.75% until 03/31/02.)
Loan Fee 0% - 8.99% origination fee, based on borrower’s/co-borrower’s credit history. Amount is added to the principal.
Repayment Begins immediately after loan is received. Up to 20 years to repay.
A 2% reduction in interest rate is available to borrowers once they have made 36 months on-time payments of the exact amount billed. Interest rate cannot be reduced below the Prime Rate.
Contact P.L.A.T.O.Education Finance21660 Ridgetop CircleSterling, VA 201661-800-GO-PLATO (467-5286)http://www.plato.org