skip to main content columnskip to left navigationskip to horizontal navigation

Office of Financial Services

Student Affairs

Residency and Relocation Loan

Residency and Relocation Loan

Below is information on Residency & Relocation Loans used by some QCOM students:
Sallie Mae - minimum of $1,000 up to a maximum of $30,000

The Residency and Relocation Loan is a private loan designed to assist you with the expenses associated with your residency relocation process. 

Relocation expenses

With the Relocation Loan® from Sallie Mae®, you can finance the costs associated with relocation costs, which will not be covered by federal student loan programs. You can also use the loan to cover board examination expenses.

What expenses does a Residency and Relocation Loan cover?

  • Travel to interviews
  • Relocation costs
  • Board examination costs

Other expenses that may not be included in the school's cost of attendance

Be in control of your funds

All disbursements are made directly to you.

Defer payments until after school

  • The Residency and Relocation Loan gives you the flexibility to defer payments while you are enrolled at least half time and for three years after graduating school or nine months if you leave school or drop to less than half-time status.

Enjoy total convenience

  • 24/7 online account management.
  • Easy online application—about 15 minutes is all you need.

Variable/Fixed Rates  

  • Variable rate: 3.03% APR up to 9.62% APR.  Your variable interest rate can rise or fall as the market index changes, so your Medical Residency and Relocation Loan payments may vary over time.

  • Fixed rate: 6.52% APR up to 12.00% APR. Get predictable monthly payments with a rate that doesn’t change over time.


  • No origination fee and no repayment penalty. 


  • Available to U.S. citizens and U.S. permanent residents enrolled at least half time in their final year of study at a participating U.S. or foreign institution or who have graduated from one in the last 12 months.
  • Also available to non-U.S. citizen students residing in the U.S. who are enrolled at least half time in their final year of study at a participating U.S. institution or who have graduated from one in the last 12 months. Non-U.S. citizen students must also apply with a creditworthy co-signer (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity.

    Repayment terms

  • A 0.25 percentage point interest rate reduction is available to borrowers who enroll in and make monthly payments by automatic debit.
  • There are no in-school payments and students get a generous grace period.
  • Borrowers can request to make monthly interest payments for the first two or four years of repayment, followed by monthly principal and interest payments for the remainder of the term, or make monthly principal and interest payments for the full repayment term of up to 20 years.
  • For those who have exhausted the grace period, a residency or internship deferment is available in up to 12-month increments; limited to a total of 48 months.

General Information: 
Students interested in applying for these loans should read the fine print, making sure they want to sign a 20-year repayment agreement with the lender.  Students should follow the instructions listed by their lender.  The QCOM Registrar must verify 4th-year enrollment before submitting an application to your lender.  Once approved, funds will be mailed directly to the address listed the application.  The Office of Financial Services is not directly involved in this particular loan process.  Any questions should be directed to your lender of choice.

icon for left menu icon for right menu