Note: Link Capital is no longer active. If you're looking for medical school refinancing, check out Splash Financial.
It’s no secret that medical school is one of the highest cost education paths. Link Capital focuses on the needs of students training for various medical fields. From future doctors to aspiring pharmacists, they are one of the go to solutions among field related student loans. The company aims to provide financial options that go well past graduation.
Remember, Link Capital is one of many options. You can compare all your options at Credible, the student loan comparison engine. You can get a quote in just 2 minutes without a hard credit check. Plus, College Investor readers will get up to a $750 gift card bonus when they refinance with Credible.
Also, be sure to check out our full list of the best places to refinance your student loans here.
Alright, onto our Link Capital review!
- Competitive student loan rates for medical professionals
- High borrowing limits of up to $450,000
- Residency loan program with $75 monthly payment
Refinancing and Consolidation
When it comes to student loans, there are a few options if you are struggling to make payments. If you qualify, student loan forgiveness is a good option. Otherwise, refinancing and consolidation may alleviate large monthly payments. Link Capital offers both solutions to qualified applicants. Refinancing includes new interest rates and a payment schedule that accommodates a range of financial situations. Consolidation compiles the loans into one easy monthly payment.
The company also works with nonprofit health care systems and investors to improve refinancing or consolidation options for their customers. Working with these groups is not a pre-requisite, but could improve possible financing choices. Various hours and time spent with these organizations may also factor into the loan.
Unlike some lenders, Link Capital looks at several factors before making a loan decision. Applicants with good credit history, currently working or with the possibility of a long term job are given priority over other possible lendees. The company does permit co-signers under certain conditions. In the case of death or dismemberment, both parties are still responsible for paying back the principle with interest.
Waiting is one of the most difficult parts of any loan application. Link Capital offers a quick decision with most approvals received in three days or less. Approved loans must include complete applicants and all requested documents. This includes any federal and state mandated information.
Link Capital relies on partners to assist lendees with every area of the loan repayment process. For example, Aspire Resources works with the company to expedite and sort payments with Iowa Student Loan. Their online service makes it convenient and easy to ensure monthly payments reach their destination on time. This simple option can save thousands on late fees.
CampusDoor is yet another choice for students who would like to use Link Capital for their loan. This service takes care of all parts of the loan application. Specially trained representatives work with potential lendees until the deal is complete. Their step by step instruction helps students navigate the sometimes hard to understand lending process.
Minimum and Maximum Limits
There is a minimum and maximum limit to each loan amount. Refinancing minimums are $15,000 while maximums go into $450,000. These limits are non-negotiable and should be carefully considered before asking for a specific loan amount.
Rates and Fees
There is no origination fees or early pay off fees for applicants. Late fees are strictly enforced with possible rates of up 5% of the unpaid balance. An automatic payment deduction policy can save lendees up to 0.25% on negotiated interest rates.
As of November 26, 2018, they currently offer the following rates on loans:
- Fixed: starting at 3.35% APR
- Variable: starting at 4.03% APR
For borrowers who are currently in residency, Link Capital offers a residency program where you can pay just $75 per month while you're in training. This is a great way to make progress on your loans but at the same time save, as your income isn't that high yet.
Link Capital is a great choice for students and graduates pursuing work in the field of medicine, since they specialize in student loans for doctors and lawyers. Their approach to one on one communication is great. The company's blog is full of great tips and answers to lending questions.
Also, be sure to check out our student loan refinancing tool that compares all the major student loan refinancing lenders.
Link Capital Student Loan Refinancing
- Rates And Fees - 80
- Application Process - 90
- Customer Service - 90
- Products and Services - 90
Link Capital is a great choice for students and graduates pursuing work in the field of medicine, since they specialize in student loans for doctors and lawyers. Special perks like a $200 per person referral program offer even more incentives to apply. Their approach to one on one communication is great. The company’s blog is full of great tips and answers to lending questions.
Joe Raspolich is a writer, editor and a money-saving enthusiast. He has a passion for learning and researching new topics and ideas. Joe was raised believing frugality doesn’t have to be boring, and he has learned how to have fun with limited funds.