Resident Physician Application

 

TMA offers loans to resident physicians within the state of Texas.

Funds are limited annually on a first-come, first-serve basis. Please contact TMA directly to see if you qualify.

Dr. S. E. Thompson Scholarship Loan Fund

  • Available to physicians in any year of post-graduate training.
  • A resident physician may borrow up to a maximum of $6,000. 
  • The residency training must be in an accredited program within the state of Texas.
  • If an individual received a TMA loan from the Dr. S.E. Thompson Scholarship Fund while in medical school, that amount will be included in the maximum allowed.
 

Patricia Lee Palmer Trust Loan Fund

  • Available to single female physicians in any year of post graduate training
  • A resident physician may borrow up to a maximum of $3,000
  • Applicants must be U.S. citizens
  • The residency must be in an accredited program within the state of Texas
 

REPAYMENT TERMS

  • Interest is due one year after the loan is disbursed.
  • Principal repayment begins two years after loan disbursement.
  • Loans may be repaid in full at any time without pre-payment penalty.
  • Equal monthly payments will be made for 12 months on a $1,000 loan; 24 months on a $2,000 loan; 36 months on a $3,000 loan; or 48 months on loans of $4,000, $5,000, and $6,000.
 

HOW TO APPLY

Resident physicians may apply for a loan through the Texas Medical Association and can obtain an application on this website.

The following items must be completed and received by TMA:

  • Completed and e-signed loan application returned to TMA.
  • Promissory note e-signed and returned to TMA.
  • Verification of residency status signed by supervisor and returned to TMA.
  • Electronic signature constitutes permission to pull your credit report - defaulted accounts do affect eligibility.
  • A virtual or telephone meeting with a TMA Interviewing Trustee must be completed.
  • Written/emailed acceptance of the loan after receipt of the approval disclosure.
  • Upon approval, the loan will be disbursed as direct deposit.
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