Resident & Fellow Loan - Harvard University Employees Credit Union
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You worked hard to get into your residency or fellowship, we can make the financing process easy.

With a variety of expenses, such as exams and relocation, you may find that you need supplemental income as you get established in your new career. Fortunately, the Credit Union can provide you with that financial support. Our Resident & Fellow Loan offers competitive rates and terms and stress-free application process. HUECU’s Education Lending coordinators can help you determine if this loan is right for you. Contact an Education Lending coordinator.

The Resident and Fellow Loan is designed for those accepted and/or enrolled in a Mass General Brigham (MGB), Office of Graduate Medical Education (GME) sponsored training program, and for Harvard Medical School and Harvard School of Dental Medicine graduates and students in their final year of study.

The Credit Union offers a robust suite of financial education resources. Individual financial counseling on budgeting, credit and debt management is available to all members. Learn More

Quick Links

Resident & Fellow Loan Application Steps
Is this loan right for you?

Need help?

Please contact the HUECU Education Loan Operation Center:


Applicants must meet ONE of the below criteria:

  • In their final year of study at Harvard Medical School or Harvard School of Dental Medicine, attending at least half-time, and accepted in a medical residency or fellowship
  • Attending another eligible medical school and accepted into an MGB, GME sponsored residency or fellowship
  • Graduated from Harvard Medical School or Harvard School of Dental Medicine, and enrolled in a medical residency or fellowship
  • Graduated from another eligible medical school and enrolled in a MGB GME sponsored residency or fellowship

Additional Eligibility Information:

  • U.S. citizenship not required. Anyone with a valid U.S. SSN and U.S. address is eligible.
  • Applicants must satisfy the HUECU credit requirements.1
  • Applicants must become an HUECU member as part of the application process.2

Program Details

Loan Limits

  • Minimum loan amount: $1,000
  • Maximum annual loan amount for an individual: $20,000
  • Total borrowing limit during a residency or fellowship: $60,000

Rates & Terms

  • Fixed rates starting at 4.25%4
  • Repayment flexibility, select 5, 10 or 15-year term


  • Funds are deposited into the borrower’s HUECU account for immediate use.
  • Funds can be easily accessed using debit card, ATM, online banking, or checks.


  • Minimum monthly payment: $50
  • Zero prepayment penalty


  • 0.25% interest rate reduction for automatic recurring payments, applied after the first payment has cleared
  • 0.25% interest rate reduction for qualifying relationships, applied after the loan is disbursed. 3

Financial Education & Counseling

Product Support

Is the Resident & Fellow loan the right option for you? Our Member Support Staff is available to answer any questions you have about the program and eligibility requirements.

Personal Finance Webinars

HUECU provides live personal finance webinars as well as access to self-serve videos of past sessions at

On-Demand Videos

Hundreds of videos about budgeting, credit, debt repayment, banking and more are available at

One-on-One Counseling

HUECU members and their families have access to free financial counseling through our partner GreenPath Financial wellness. Visit for more information.

Educational Articles

Subscribe to our blog for articles to help you navigate important financial decisions, such as home buying, getting married, starting a family, debt repayment, relocating, and more.

Printable Resources

Our budgeting, savings, home buying, credit and debt repayment worksheets can be downloaded and printed at



Loan Example: $10,000 at 4.00% APR and 15 years. Monthly payment is $73.97 with total finance charges of $3,314.38 and total repayment of $13,314.38.

1. HUECU credit requirements include 2 years minimum credit history with tradelines other than education loans and on time payment record.
2. Membership in the Credit Union requires a $5 minimum deposit in a Share Savings Account.
3. A qualifying relationship is defined as having a qualifying HUECU Checking Account for 12 months, or any non-education HUECU loan product. Discount to be applied after the loan is disbursed, if applicable. Member must contact the Credit Union to receive discount.
4. Starting rate offer is based upon credit score. Annual Percentage Rate (APR) is adjusted quarterly according to Prime Lending Rate as published in the Wall Street Journal. Subject to credit approval.

Current student education prime rate is 3.25%

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