$6,000
Maximum from the Dr. S. E. Thompson (SET) Fund
$3,000
Maximum from the Patricia Lee Palmer Fund
2 Weeks
Approximate time to direct deposit after approval
4.4%
Fixed Interest Rate
Before you apply
Funds are limited annually and awarded on a first-come, first-served basis. Approval is based upon credit standing. Contact TMA to see if funds are available.
Two Funds for Residents in Texas Training Programs
-
Dr. S. E. Thompson Scholarship Loan Fund
Available to physicians in any year of post-graduate training.
- Up to $6,000
- 4.4% fixed interest rate
- Residency must be in an accredited Texas program
- Any Dr. S. E. Thompson (SET) loan taken in medical school counts toward this maximum
-
Patricia Lee Palmer Trust Loan Fund
Available to single female physicians in any year of post-graduate training.
- Up to $3,000
- 4.4% fixed interest rate
- Applicants must be U.S. citizens
- Residency must be in an accredited Texas program
Up to $6,000
Repayment Terms
Interest Payments
Interest is due one year after the loan is disbursed.
Principal Repayment
Principal repayment begins two years after the loan is disbursed.
Equal Monthly Payments
12 months on a $1,000 loan, 24 on $2,000, 36 on $3,000, and 48 on $4,000 to $6,000.
No Fees
There are no origination fees. Pay off your loan at any time without incurring additional fees or penalties.
How to Apply
Resident physicians apply online only. All of the following must be completed and received before a loan can be approved. Note: Your electronic signature constitutes permission to pull your credit report. This loan is credit-based — defaulted accounts or insufficient credit history do affect eligibility.
- Complete and submit the e-signed loan application. (View sample HERE).
- Complete and e-sign the promissory note.
- Submit the Verification of Residency Form showing the end date of training, signed by your supervisor.
- Complete a virtual, telephone, or in-person meeting with a physician interviewing trustee.
Complete and submit the e-signed loan application. (View sample
Disbursement: Upon approval, the loan is disbursed via direct deposit within approximately two (2) weeks.