RESIDENT PHYSICIAN LOAN PROGRAM
- Loans are available to physicians in any year of postgraduate training
- A resident physician may borrow up to a maximum of $3,000
- The residency must be in an accredited program within the state of Texas
Note: 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.
- Interest is due each year on the anniversary date of the loan until principal repayment begins
- Loans may be repaid in full at any time without a prepayment penalty
- Loan recipients must begin to repay the principal of the loan two years after loan disbursement
- Equal monthly payments will be made for 12 months on a $1,000 loan, 24 months on a $2,000 loan, or 36 months on a $3,000 loan.
How to Apply
Resident physicians may apply for a loan through the Texas Medical Association and must obtain an application available here.
The following items must be completed and received by TMA:
- Completed application
- Promissory note
- Verification of residency status
- Credit history
- An interview with a TMA Trustee