Primary Care Loans

Loan basics

APR: 5%

Initial grace period: 12 months

Post-deferment grace period: None

Repayment period: 120 months

Service obligations:

You must enter a residency-training program in family medicine, internal medicine, pediatrics, combined medicine/pediatrics, preventive medicine or osteopathic general practice.
You must complete your residency program within four years of graduation.
You must practice in primary care until your loan is paid in full.
You must complete the Post-Residency Certification Form for Primary Care Loan Recipients and submit it to the Student Loan Billing and Payment Office on an annual basis.

If you do not comply with the service obligations, the outstanding balance of your loan will be calculated at an annual percentage rate of 18%.

Deferment types for this loan:

Rehabilitation/professional training: No limit

Armed forces/public health service: 3-yr max

Peace Corps: 3-yr max

Internship/residency: 4-yr max

Deferment

Deferment allows you to suspend payment of your loan for a specific period of time without the accrual of interest.

In order to be granted a deferment of repayment, the borrower must submit the proper deferment request form, along with other documentation required by Yale University, immediately upon the onset of any condition that qualifies the loan for a deferment. A borrower may lose deferment benefits if the Student Loan Billing and Payment Office does not receive the proper forms on a timely basis.

Deferment request form

If you do not qualify for any of these deferment types, you may qualify for forbearance.

Forbearance

If you are experiencing recent unemployment or other temporary financial hardship, forbearance allows you to suspend payment of your loan principal for up to 12 months. Interest will continue to accrue throughout the deferment period.
Application for forbearance

Cancellation types for this loan:

Permanent total disability

Death