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Grace Periods for Medical and Dental Grads: How Repayment Works After School

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Grace Periods for Medical and Dental Grads: How Repayment Works After School


Key Points

  • Federal Direct subsidized and unsubsidized loans come with a six-month grace period after graduation. 
  • Medical and dental residents can pause federal payments through forbearance, in increments of up to 12 months, or through deferment — but interest keeps adding up the entire time.
  • Private loans, including Abe® student loans, set their own grace and deferment terms, so residents should check those details before they borrow.

New doctors and dentists tend to finish school with some of the largest balances of student loan debt of any profession, and then have to start residencies on a modest salary. The months right after graduation, when payments are supposed to begin, are often the tightest. 

Knowing how grace periods, deferment, and forbearance work can save a new graduate from costly mistakes during training.

In partnership with Abe® student loans, let’s break down how repayment works after medical, dental, and other professional programs, and what to check before borrowing. Get a quote here >>

What A Grace Period Actually Is

A grace period is the stretch of time after you leave school, or drop below half-time enrollment, before your first loan payment is due. For federal Direct subsidized and unsubsidized loans, that period is six months and applies automatically.

Grad and professional PLUS loans are a special case. They technically do not carry a grace period, but the federal program grants a six-month post-enrollment deferment that delays payments in the same way. The practical effect is similar, though interest treatment differs by loan type, and on unsubsidized loans interest keeps accruing the whole time.

Private loans can offer a grace period, but it varies by lender. For example, Abe® student loans offer 6 months of grace1, and then an extended grace period of an additional six months2 can be requested. For the first time, Abe is also offering extended deferments due to authorized leaves of absence, whether students are pursuing specialized opportunities or a research project before finishing their studies. The maximum extension for those with Abe medical, dental school or healthcare professional loans is 12 months.3

Residency Options: Forbearance and Deferment

Residency can last several years, far longer than a six-month grace period. Federal borrowers in a medical or dental internship or residency can use forbearance, which a loan servicer is required to grant if you qualify. It pauses payments in increments of up to 12 months, and you renew it as long as you remain eligible.

Deferment is another route, with its own eligibility rules. The catch with both is interest: during forbearance, and on unsubsidized loans during deferment, interest continues to build and can be added to your balance when payments resume. A resident who pauses payments for several years can owe noticeably more than they originally borrowed.

Private lenders’ forbearance and deferment options for residency vary. Abe® student loans offer up to 48 months of deferment while enrolled in a medical internship or residency program.4

What This Means For A Resident’s Budget

On a resident’s salary, full loan payments on a six-figure balance are often unrealistic in the first year. That is what makes grace periods and forbearance useful, and also what makes them risky. Pausing payments protects cash flow now, but the unpaid interest does not disappear. When it capitalizes, future payments are based on a larger balance.

The better move for many residents is to understand every option before graduation: which loans offer a grace period, how long each pause lasts, whether interest accrues, and what a realistic payment looks like once training income rises. Going in with a plan beats reacting to the first bill.

Yes, the goal of all residents is to make more money once training is complete. But having that plan is key.

Private Loan Grace Periods Vary

Grace periods are not standardized across private lenders the way they are for federal loans, so the details matter. With the 2026 federal caps pushing more medical and dental students toward private borrowing, those terms deserve a close read. 

Abe® student loans offer private student loans for professional students, and borrowers should review the grace period, any in-school and deferment options, and the rate before signing. In addition to offering competitive rates, Abe does not have accompanying application, processing or late fees, and covers up to 100% of college expenses5 after students have exhausted other sources of aid, such as federal loans, scholarships, and grants. 

Review the repayment and grace period terms with Abe® student loans.

Get a quote here >>

Disclosures

1 The grace period is six months. In the case of Abe Law loans, the grace period is nine months. The grace period begins on the earlier of the date (a) the student borrower graduates, (b) the student borrower ceases to be enrolled, or (c) that is 60 months from the first disbursement date, but in no case, earlier than six months after the first disbursement date. The Immediate Repayment option does not have a grace period.

2 The extended grace period is six months. In the case of Abe Law loans, the extended grace period is three months. If eligible, the extended grace period begins on either (a) the day following the initial grace period, (b) the first day of delinquency during the repayment term, or (c) the due date of the current level bill. To be eligible for the extended grace period, the loan cannot have entered the repayment term more than ninety (90) days prior to the date the Servicer receives the request for payment relief. The Immediate Repayment option does not have an extended grace period. The repayment term will be extended by the number of months of extended grace applied to the loan.

3 For borrowers enrolled at an approved school and during an in-school period, grace period, or additional deferment period, if the school grants the borrower an authorized leave of absence (“LOA”), the loan will remain in the current deferment status. The school must certify that the LOA has been granted to the student or the LOA must be validated through the National Student Clearinghouse (“NSC”). Any such LOA may not exceed 12-months in length for Abe Medical, Dental or Healthcare Professionals borrowers, or six months in length for all other Abe borrowers and shall not cause the loan to be in an in-school or grace period beyond the date that is sixty-six (66) months from the first disbursement date or an additional deferment period beyond forty-eight (48) months. If, after the aforementioned approved LOA, the student borrower is not re-enrolled in a graduate certificate or degree seeking program at an approved school, the repayment term will begin.

4 Borrowers with Interest Only, Flat Payment or Full Deferment Loans may defer payments for an initial period of forty-eight (48) months while enrolled in a medical internship or residency program. With the Full Deferment Repayment option, principal and interest payments are deferred for a period of up to twenty-four (24) months, and payment of principal but not interest is deferred for a subsequent period of up to twenty-four (24) months. With the Interest Only Repayment or Flat Payment Repayment option, payment of principal but not interest is deferred for a period of up to forty-eight (48) months. Borrowers with Interest Only, Flat Payment or Full Deferment Loans may further defer full principal and interest payments for the duration of the student borrower’s enrollment in a medical internship or residency program, offered in twelve (12) month increments. The student borrower must provide official proof to the Servicer of continued enrollment on an annual basis. Any accrued and unpaid interest may be capitalized at the end of this additional deferment period in accordance with the Credit Agreement. The repayment term will be extended by the number of total months of deferment applied to the loan.

5 The minimum loan amount is $1,000, except for (a) student applicants who are permanent residents of Iowa in which case the minimum loan amount is $1,001, and (b) student applicants or cosigners who are permanent residents of Massachusetts in which case the minimum loan amount is $6,001. The maximum loan amount to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, as certified by the school. The requested loan amount cannot cause an individual student applicant’s aggregate education loan debt (which includes federal and private student loans) to exceed $300,000 per student applicant applying for an undergraduate loan, $350,000 per student applicant applying for a graduate, graduate certificate, Healthcare Professionals, Law or MBA loan, or $500,000 per student applicant applying for a Medical or Dental loan. The requested loan amount cannot cause the aggregate education loan debt of a cosigner, applying jointly for an Abe loan, to exceed $999,999.99.

Editor: Colin Graves

The post Grace Periods for Medical and Dental Grads: How Repayment Works After School appeared first on The College Investor.

Citi $325/$475/$500/$1,500 Checking Bonus – Doctor Of Credit

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Citi $325/$475/$500/$1,500 Checking Bonus – Doctor Of Credit


Update 7/15/26: $475 offer extended until 10/22/26

Update 5/29/26: There is also a new $475 link that requires a $5,000 deposit and two enhanced direct deposits. Probably only NY, CT, MD, VA, DC, CA, NV, NJ, and select markets in FL and IL Hat tip to Super Pirate formerly SP

Update 4/14/26: Deal has been extended to 10/26/26. Unfortunately the $750 tier has been reduced to only $500.

Update 1/13/26: Extended until 04/13/26, but $425 option is gone. Updated F.A.Q section with more information about savings stack and Citigold. 

Update 1/6/26: I’ve tried to fully refresh this page with a F.A.Q section and referral information as well as state differences. Current version is set to end on 1/12/26. Unclear if the same bonus will return or a better/worse version. If somebody wants to do a walk through of things like timing the increased savings rate/citi gold benefits I’m sure it would be greatly appreciated. 

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Nationwide
  • Direct deposit required: Yes, $3,000+
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: None, but can fund up to $1,000 with a debit card
  • Monthly fees: $12, avoidable
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: 7/8/24

The Offer

Direct link to offers: $325/$425 | $500/$1500 | $475 bonus(if links don’t work try opening in incognito)

  • Citi is offering a variety of checking bonuses.
    • $325/$425 checking bonus/$475  
      • Open a new eligible Citi® Checking account with Enhanced Direct Deposits, and enroll in this offer by applying directly from this page.
      • Deposit at least two (2) Enhanced Direct Deposits directly into your new checking account within 90 calendar days from account opening. Your total combined Enhanced Direct Deposits must equal
        • $3,000 or more for the $325 bonus
        • $6,000+ for $425 bonus 
        • $5,000 for $475 bonus
    • $750 $500/$1,500 checking bonus when you 
      • Deposit New-to-Citibank Funds into your checking account within 45 calendar days from account opening.
      • Maintain the required minimum balance in your Regular Checking account for an additional 45 days from the 46th day
      • $30,000 minimum balance for $500 bonus 
      • $200,000 minimum balance for $1,500 bonus

 

The Fine Print

  • An EDD is an electronic deposit through the Automated Clearing House (“ACH”) Network of payroll, pension, social security, government benefits and other payments to your checking or savings account. An Enhanced Direct Deposit also includes all deposits via Zelle® and other P2P payments when made via ACH using providers such as Venmo or PayPal. Teller deposits, cash deposits, check deposits, wire transfers, transfers between Citibank accounts, ATM transfers and deposits, mobile check deposits, and P2P payments using a debit card do not qualify as an Enhanced Direct Deposit. (Note: see this comment about Zelle.)
  • So long as you have not owned a Citi checking account in the last 365 days, meet Tax Requirements, and are at least 18 years old, you can apply to participate in the Enhanced Direct Deposit Checking Acquisition Offer (“Enhanced Direct Deposit Offer”) (click the Offer, Product & Pricing Information link at the top of the fine print to see this)
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Regular & Access Checking fee waived:

  • in the month of account opening and for 3 months after account opening or
  • each month the account has $250+ in Enhanced Direct Deposits

Early Account Termination Fee

In the past, Citi has not charged any ETF, and none is mentioned for this offer.

Referral Bonus 

You can refer people and if they sign up and complete the requirements you will get $100. The person being referred does not get an additional bonus, but they will get the standard bonus (e.g $325/$750/$1,500). Please do not share your referrals in the comments below, but you can use them in this linked thread. 

Our Verdict

In some states (NY, CT, NJ, DC, VA, MD, CA, or NV) it’s possible to make the deposit bonus offer ($750/$1,500) significantly better by opening a savings account and linking it within 10 days of the checking account. Currently you can get 3.7% APY for the first three months. If you do the $200,000 deposit offer you are also eligible for Citi gold. Will stack with the Lunar new year promotion as well. 

For a lot of readers the $325/$450 offers will be far simpler. We will add it to our best bank bonus page. You can see the definition of an enhanced direct deposit here. 

Useful posts regarding bank bonuses:

F.A.Q’s

Big thanks to Gadget for helping me with this. 

I can’t see the offer? Has it expired?

Probably not, if the offer isn’t showing for you then you need to try the following:

  • Copy & paste the link rather than clicking the link
  • Clear your cache and try the above
  • Copy and paste the link in incognito mode

I can’t see where it says you can’t have had an account within the past 365 days?

  • Look for the link that says ‘Offer’ and click it. Name of the link sometimes changes but you should be able to find it.
  • Scroll down to ‘Qualify’, it should state the following: “So long as you have not owned a Citi checking account in the last 365 days, meet Tax Requirements, and are at least 18 years old, you can apply to participate in the Enhanced Direct Deposit Checking Acquisition Offer (“Enhanced Direct Deposit Offer”).”

Is there an offer tracker?

Yes, there is an offer tracker but not everybody sees it unfortunately.

  • You need to use the Citi app:
    • Services > Rewards & Upgrades > Explore Rewards > Select the checking account.
    • Scroll to Citi Checking Cash Bonus Offer – ??? (??? being the last 3 of the account number)
    • After a day of account opening you should see “Congratulations, You’re Enrolled!”
      • The $325/$425 offer has number of EDD’s completed, and totals.
      • The $750/$1500 offer has the exact dates you must meet & maintain the balance.
  • Can also try online ‘Explore all the benefits of being a Citibank® customer, “Learn more”

How do I stack with the 3.7% savings account?

Firstly this offer is only available in certain states (most likely NY, CT, NJ, DC, VA, MD, CA, or NV but might be more). You then need to do the following:

  • Open checking account from promo page above
  • Fund with a small amount
  • Open the savings account using the savings promo link. This needs to be done after the checking account is opened but within 45 calendar days. 
  • Fully fund savings account within 10 business days of opening it 

Optimal time to open the savings account is as close to the 45 calendar days as possible assuming the funds are earning more than 3.7% APY elsewhere (best savings rates here). I would give yourself significant grace time in case something goes wrong. 

How do I access the Citigold benefits?

Some people have been able to sign up for Citigold while doing this promotion and get the benefits for three months without depositing $200,000. You find can find a list of the benefits here. You need to activate your debit card before being able to access the Citigold benefits, you can enroll for the benefits here: https://citigold.citi.com/subscriptions. 

$475 Offer Doesn’t Work/Says Not Available In My Area?

Seems to only be NY, CT, MD, VA, DC, CA, NV, NJ, and select markets in FL and IL

Mamdani’s $50 World Cup jersey stunt proves some of the oldest criticisms of socialism correct

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Mamdani’s $50 World Cup jersey stunt proves some of the oldest criticisms of socialism correct



Fortune magazine was founded by Henry Luce, one of the most famous Republicans of the 20th century, and yet has a long history of employing left-wing writers. Without getting into my personal politics, I’ve debated with friends the difference between “leftism” and “liberalism” and even been called a capitalistic “neoliberal” a few times as a slur by people in my social circle claiming to be more radical than me. As added context, my own grandfather, the former Bryn Mawr professor Philip Lichtenberg, was once labeled “the red doctor” during the McCarthy era because he supported the college’s hiring of the Marxist historian Herbert Aptheker. It’s from that context that I’ve been watching the significance — and the failure — of Mamdani’s $50 World Cup jersey, which none of my leftist friends could actually get.

The jersey stunt is more than a jersey stunt. Zohran Mamdani won New York’s mayoralty in November 2025 largely by running on “affordability” — freezing rent, free buses, city-run grocery stores, a $30 minimum wage by 2030 — a message that resonated in a city where working- and middle-class residents have been squeezed by years of rising rents and stagnant wages. That victory wasn’t an isolated one, as the much more moderate Mikie Sherrill was elected governor of neighboring New Jersey on a broadly similar affordability pitch. And this summer, Mamdani continued his winning streak by backing upstart congressional candidates in successful primary challenges that rattled the mainstream of the Democratic Party, a sign that his brand of democratic socialism is evolving into a broader midterm-year insurgency.

This makes the city-backed World Cup jersey a rare acid test for what “affordability” solutions look like in practice, and whether democratic socialism is a buzzy phrase or a genuine agenda. In other words, you can say you want “affordability,” but do you actually know how to deliver it? This preview, playing out in miniature, in public and especially on Reddit, is resulting in a real-world collision with the exact economic mechanism that critics warn will complicate democratic socialism in practice: price ceilings colliding with real-world demand.

The drop

On June 12, Mamdani’s administration released a limited run of 1,500 NYC-themed World Cup jerseys — 500 each in three colorways — hand-produced by the local business Mazzi Sports at its Brooklyn factory in the gentrifying Bedford-Stuyvesant neighborhood. The jerseys were priced at about a third of an authentic Adidas or Nike World Cup kit, and were (initially) available only in person at the NYC City Store at One Centre Street starting at 9 a.m. “Jerseys symbolize much more than just the team you cheer for,” Mamdani told GQ. “They embody pride in your origins and identity. With this limited run, we are offering New Yorkers an affordable jersey made for New Yorkers, by New Yorkers.”

The response was immediate and outsized: fans lined up before dawn, some calling out of work, with waits stretching two to three hours or more as the queue wound around the block. Business Insider called it “swag socialism.” Others on social media called it “total socialist economics” — a frustrating failure to deliver at scale, with a lucky few getting a bargain and a massive rush-in effect of black-market privateers.

The entire 1,500-unit run sold out in about an hour after the doors opened. Within hours, jerseys began appearing on resale platforms including StockX, eBay and Facebook Marketplace, with asking prices ranging from roughly $400 into the $900s — or more. Rather than treating the sellout as a one-time event, Mamdani’s office announced a second run and, weeks later, moved distribution online — an attempt to fix the access problem that had put scarce jerseys in the hands of whoever could physically stand in line the longest. Starting July 8, the city released 500 jerseys online each weekday through July 16, requiring buyers to first create an account at nyc.gov/citystore, select a colorway and size, and then pick up the jersey in person, since no shipping was offered.

The shift to e-commerce didn’t solve the underlying shortage — it just moved the bottleneck from a physical line to a digital one. Many apparent buyers on Reddit described the online drops selling out in “under a minute,” encountering CAPTCHAs moments before checkout, and having purchases vanish mid-transaction even after successfully adding an item to their cart. One commenter summed it up by posting, “For everyone complaining about bots and scalpers… do the math, there’s 500 in a drop, 3 color ways and 8 sizes of each… that’s only 20 in each size! The odds are extremely stacked against you.”

The jersey drop isn’t an isolated gesture. Mamdani, a self-described democratic socialist, has made World Cup affordability a signature cause since his mayoral campaign, calling FIFA’s dynamic ticket pricing “absurd” after final-match prices jumped from under $200 in 1994 dollars to more than $6,000 this year. In May, his administration secured a rare concession from FIFA and the NYNJ Host Committee: 1,000 tickets priced at $50 each for New York City residents, allocated via lottery for five group-stage matches and two knockout-round games, plus free round-trip bus transportation to MetLife Stadium. That program capped entries at two tickets per winner and made them nontransferable specifically to prevent scalping — a design choice that anticipated the same resale dynamics now playing out with the jerseys.

To be clear, the jersey promotion is a single City Store retail event, not city policy or legislation, and it’s a far smaller test case than the ticket program or any citywide economic policy Mamdani might pursue as mayor. But as an illustration of what happens when a price cap isn’t matched by adequate supply, the $50 jersey that flipped for 10x its price offers a tidy, low-stakes preview of a debate that has shaped economic policy fights for a century: it’s textbook price-ceiling theory.

Criticisms out of the Austrian textbook

The pattern is well established: when a price is fixed below the level at which quantity demanded equals quantity supplied, a shortage results, and the market rations the scarce good through non-price means — in this case, hours of waiting — while a secondary market absorbs the excess demand at market-clearing prices. Economist Ludwig von Mises, a founding figure of the libertarian “Austrian School” that stressed the importance of the collective, subjective choices of many individuals, warned as early as 1944 that price-fixing efforts “do not attain the ends which the authorities wish” and in fact, “result in a state of things which from the point of view of the government and of public opinion is even less desirable than the previous state which they had intended to alter.”

Although seen as heterodox by today’s mainstream economists for its rejection of statistics, the Austrian School is still massively influential for its insight into the stubbornness of individuality as an economic force and is often cited in criticisms of price controls, a solution that left-wing politicians have historically favored in fighting inflation. (For what it’s worth, Republican Presidents Richard Nixon and Donald Trump have flirted with price controls to combat inconvenient market forces.) Some longstanding features of New York City political economy, notably rent-controlled apartments, have persisted for decades, producing what many economists call significant market distortions.

But the more interesting critique of the jersey drop — and the one with more direct implications for Mamdani’s broader agenda — isn’t coming from the right. It’s coming from an internal debate within the left.

A growing movement of center-left policy thinkers, associated with the “abundance” framework popularized by Ezra Klein and Derek Thompson in their book of the same name, argues that the fundamental affordability problem isn’t price — it’s supply. Housing is expensive in New York, they argue, not primarily because landlords are greedy but because regulatory barriers, zoning restrictions and political opposition to development have made it structurally impossible to build enough units. The solution, in this framework, isn’t to suppress prices. It’s to remove the barriers to producing more of what people need.

Applied to the jersey drop, the abundance critique isn’t “the market should have priced it at $500.” It’s “you needed 150,000 jerseys, not a $50 price tag on 1,500.” Supply was the problem, not price. After all, no price ceiling has ever created more of what it is meant to control.

This is the fork in the road between Mamdani’s democratic socialism and the supply-side progressive tradition. Democratic socialism, as Mamdani practices it, treats affordability as a price problem: rent is too high, so freeze it; jerseys cost too much, so cap them. Perhaps the most vivid bottleneck is Mamdani’s proposal to create one city-owned supermarket for each borough, meaning the city will have five places to buy cheaper groceries in a city of more than 8 million people — that’s over a million shoppers per location. The abundance movement treats affordability as a production problem: we don’t build enough of what working-class people need, and the fix is expanding supply rather than controlling prices on whatever scarce supply exists.

These approaches aren’t easily reconciled. Democratic socialists have largely dismissed supply-side progressivism as “neoliberal” — market-friendly thinking dressed up in center-left clothes. That tension spilled into the open last fall when Lina Khan, advising Mamdani’s transition, proposed requiring stadiums to lower beer prices — and Matt Yglesias and Jason Furman immediately argued that cheaper beer would just mean higher ticket prices. Tim Wu called that dumb.

It doesn’t help that abundance liberals are echoing ideas that date back to a libertarian economist like von Mises. On today’s left, the politics of who’s saying something increasingly drowns out the substance of what they’re saying — after all, Mamdani has an “it” factor and these jerseys are genuinely cool. But the economic fallout of this exercise in democratic-socialist affordability suggests that when you fix one price, the market finds another way to clear. Is it “neoliberal” of me to point that out?



5 Stocks to Buy If the Market Drops Again

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In this video, I will cover the stocks I would be adding to my portfolio if the market pulls back further and explain why I am watching these names closely. Watch the short video to learn more, consider subscribing, and click the special offer link below.

*Stock prices used were from the trading day of July. 14, 2026. The video was published on July. 14, 2026.

Neil Rozenbaum has positions in Advanced Micro Devices, Alphabet, Axon Enterprise, Palantir Technologies, and Reddit. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Axon Enterprise, Palantir Technologies, and Reddit. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

The Benefits of Multigenerational Living

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The Benefits of Multigenerational Living


For generations, the American dream was often defined by independence. Adult children moved out on their own, parents remained in the family home until retirement, and grandparents lived separately, often in different cities or states. Today that picture is changing.

Continue

Raga Finance：早晨時段即市財經節目 20260707- RF早市全餐 – 主持 : 沈振盈 (沈大師)，冼潤棠(棠哥)，文錦輝 (艾德金融投資策略總監)

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Raga Finance：早晨時段即市財經節目 20260707- RF早市全餐 – 主持 : 沈振盈 (沈大師)，冼潤棠(棠哥)，文錦輝 (艾德金融投資策略總監)



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First Quantum in talks to sell stake in Argentina copper project – Bloomberg

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First Quantum in talks to sell stake in Argentina copper project – Bloomberg

Rove Adds Qantas Frequent Flyer as Transfer Partner

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Rove Adds Qantas Frequent Flyer as Transfer Partner


Rove Adds Qantas Frequent Flyer as Transfer Partner

Rove today announced the addition of Qantas Frequent Flyer as its newest transfer partner. Members can now transfer Rove Miles to Qantas Frequent Flyer at a 1:1 ratio, opening up new redemption opportunities across Qantas, oneworld airlines, and Qantas’ extensive network of airline partners.

In celebration of the launch, Rove is offering a 50% transfer bonus on all transfers to Qantas Frequent Flyer through August 14, 2026 at 11:59 p.m. EST. During the promotion, every 1,000 Rove Miles transferred will become 1,500 Qantas Points.

Expanding Access to a Global Travel Network

Qantas Frequent Flyer is one of the world’s most established airline loyalty programs, with redemption options across Qantas, Jetstar, oneworld airlines, and a broad network of additional airline partners. For travelers based in the U.S., the program offers access to both domestic and international award opportunities through key partners including American Airlines, Alaska Airlines, British Airways, Cathay Pacific, Japan Airlines, Qatar Airways, Finnair, Iberia, and more.

As the flag carrier of Australia and a founding member of oneworld, Qantas provides connectivity across Australia, New Zealand, the South Pacific, Asia, Europe, North America, and beyond. The addition of Qantas Frequent Flyer gives Rove members another flexible transfer option for redeeming their miles.

Rove Adds Qantas Frequent Flyer as Transfer Partner

Transfers Now Available Through Rove

Rove members can transfer Rove Miles directly to Qantas Frequent Flyer at a 1:1 ratio through the Rove platform. Transfers completed by August 14, 2026 at 11:59 p.m. EST will receive a 50% bonus as part of the limited-time launch promotion.

Rove also supports live Qantas award availability searches on its website.

About Rove

Rove is a travel platform that lets users earn and redeem miles without a credit card. Users can earn Rove Miles by booking flights and hotels through Rove, including through its Loyalty Eligible hotel feature. They can also shop with over 13,000 partner merchants through Rove’s shopping portal and browser extension.

Rove Miles can be used to book flights with over 140 airlines and stays at hundreds of thousands of hotels, or transferred to select loyalty program partners, giving travelers a more flexible and accessible alternative to traditional airline miles.

If you don’t have a Rove account yet, you can sign up now to get 500 miles instantly.

Rove Transfer Partners

You can transfer Rove Miles to the following partner programs:

Partner Transfer Ratio
Accor Live Limitless 1.5 : 1
Aeromexico Rewards 1 : 1
Air Canada Aeroplan 1 : 1
Air France/KLM Flying Blue 1 : 1
Air India Maharaja Club 1 : 1
Cathay Pacific Asia Miles 1 : 1
Etihad Guest 1 : 1
Finnair Plus 1 : 1
Hainan Airlines Fortune Wings Club 1 : 1
Japan Airlines Mileage Club 1 : 1
Miles & More 1 : 1
Qatar Airways Privilege Club 1 : 1
Scandinavian Airlines SAS EuroBonus 1 : 1
Thai Airways Royal Orchid Plus 1 : 1
Turkish Airlines Miles&Smiles 1 : 1
Vietnam Airlines Lotusmiles 1 : 1
Virgin Atlantic Flying Club 1 : 1
Virgin Red 1 : 1

How Andy Gill Turned a Mailer Into 30 Units

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Category

Details
Name Andy Gill
Location Connecticut
Occupation General contractor and real estate investor
Assets 58 rental units across multiple properties, plus a 30-unit portfolio in phased acquisition
Investment strategy Value-add multifamily, phased management-to-ownership acquisition, private financing
Financing Commercial loans (five-year ARM), seller-held notes, private lending

Andy Gill lost his business in the Great Recession and spent years relearning how money actually works. He raised two kids in an 850-square-foot house, drove used cars, and refused to take on debt he didn’t understand, all so he could eventually buy something that would never disappear on him the way his business had. He didn’t buy his first rental until he was 44. 

Four years later, he owns 58 units and is in the middle of acquiring a 30-unit portfolio using a structure he came up with himself: managing properties he doesn’t yet own until the sellers are ready to hand over the keys. 

Here’s how he built it.

You didn’t start investing until you were 44. What finally clicked?

I had a bad business experience that taught me I didn’t understand finance or a P&L. I had to get smart, and then I found a mentor who taught me that if you can’t measure something, you can’t manage it. Once I had those skills, I realized owning the asset, not just improving it for someone else, was the actual goal. 

Our first purchase was 12 condos in Connecticut. I brought in a partner to go 50-50, and because they were identical units, I could understand the whole deal at once: how rent would move, what improvements were needed, and how to handle tenants. That gave me the confidence to keep going.

You came up with an unusual way to source your most recent deal, a 30-unit portfolio. Walk us through it.

I had an idea that if I could take over management of properties I didn’t yet own from older landlords who were frustrated, I’d already be in the first position to buy when they were ready to sell. 

I designed mailers with a cartoon version of myself in a flannel with a tool belt and a dog, saying something like, “Being a landlord sucks; you should sell to me.” I sent out about 600 of them and got 100 calls back. 

One came from a longtime friend I didn’t even know owned apartments. His wife wanted him to travel more. A year later, he was ready to talk.

How did you actually structure the deal once he was ready to sell?

We did two contracts. The first was a management agreement so I could take over the properties immediately, see under the hood, and get comfortable with them before committing real capital. The second was the purchase and sale agreement. 

For the first property we transferred, we used a formal appraisal. After that, we agreed on a flat per-unit price instead of paying for eight more appraisals, since some units were bigger or in better areas, and it evened out over the whole portfolio. He held a note on the remainder, which also helped him manage capital gains and depreciation recapture on a property he’d owned for a long time. 

We’re about halfway through the transfer now, with the rest planned over the next 12 months.

What made this structure work for both sides instead of a standard sale?

For me, by the time I actually buy each property, I already control it completely. I know the tenants; I know the problems. I’m already collecting the rent, so it’s essentially just moving the deposit from his account to mine. For him, it meant he could stop dealing with tenants and maintenance immediately without giving up the tax position he wanted from an outright sale. 

He’s actually so happy with the arrangement that we’re now talking about partnering on new development deals together using an affordable housing designation that lets us bypass some zoning restrictions and increase density.

What financing do you rely on now, and what do you look for in a deal before you buy?

Our first deal was a commercial loan with a five-year ARM, and we created a lot of equity just by stabilizing the property early on. Once you prove you can execute, people become willing to lend to you privately, and most of our financing now is private. 

On the property side, I want cash-on-cash return so I get my money back quickly, and I look for markets with around 3% organic historical appreciation so I’m not just parking money somewhere flat. I also stay away from anything with knob-and-tube wiring, a bad roof, structural issues, or old sewer laterals, since those are the expensive surprises that show up later if you don’t catch them in inspection.

The $124 trillion Great Wealth Transfer means more businesses are now being inherited than purchased

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The $124 trillion Great Wealth Transfer means more businesses are now being inherited than purchased



It’s not just the Murdochs or the Arnaults. As family-owned companies change hands, new data shows more American businesses are now being inherited than purchased—part of the broader Great Wealth Transfer marking a shift in how the next generation could shape the economy. 

Bank of America‘s recent Private Bank Study of Wealthy Americans found that in 2026, the share of businesses inherited among wealthy Americans is projected to reach 23% versus 11% that are purchased, a deviation from a previous pattern of more businesses being purchased than inherited. For example, in 2022, 28% of businesses were purchased compared to 5%, which were inherited, according to BofA data. Researchers surveyed 1,400 U.S. adults with at least $3 million in investable assets to look particularly at how high-net-worth individuals were saving and passing down their wealth.

Of course, this is all part of what’s become called the Great Wealth Transfer, the projected inheritance of between $36 trillion and $124 trillion in assets from Baby Boomers to younger generations over the next two decades. Wealthy individuals play an outsized role in this transference, as wealth accumulation is highly concentrated toward the top. The immense amount of wealth moving through generations has raised questions of how the economy will be shaped by the young and the rich. Jonathan Parker, an MIT Sloan School of Management professor of financial economics, said that how assets—in this case businesses—change hands can sometimes offer illumination of broader economic patterns.

What do more inherited businesses say about the economy?

To Parker, a greater share of businesses being inherited was a sign of even greater wealth concentration, a phenomenon that has gained attention amid growing concerns about affordability and the K-shaped economy, in which the rich keep accumulating wealth, even as the poor struggle to make ends meet. According to the Federal Reserve Bank of St. Louis, the top 1% of U.S. households account for nearly one-third of the country’s wealth, equal to about $44 trillion, or as much as the bottom 90% of American households.

“We have a lot of business creation in the U.S.,” Parker told Fortune. “That’s generally a very good thing, and that does tend to generate top skewed wealth distribution for the owners, obviously, who have a lot of resources. An interesting question going forward is, what share of that wealth, when people reach the end of their lives, do they bequeath to their dependents?”

Parker noted that for decades, there has been an inverse pattern between wealth and the number of children one had, such that more affluent individuals had fewer kids. It’s a cycle that emerged during the Industrial Revolution, though economists have struggled to come to a definitive conclusion as to why this is. While there may also now be a breakdown of this trend in some parts of the world, in which wealthier people are beginning to have more children, Parker argues that wealth becomes less distributed in a family with one child versus six.

The increase in inherited businesses could also be part of a trend of companies staying private longer, as private firms are harder to cash out of. Apollo chief economist Torsten Slok, citing economist and “Mr. IPO” Jay Ritter, noted a rise in the median age at which companies go public since 2022, when the Federal Reserve began raising interest rates. This trend has coincided with a boom in private capital, enabling larger-scale firms to raise billions through venture capital funding and private equity instead of public markets.

What questions do more inherited businesses raise?

While wealthier Americans inheriting businesses align with the economic trends of wealth concentration and longer maturity of private firms, Parker noted other factors could be informing this pattern.

“We currently have a very strange situation” regarding the taxation of inherited wealth, he said. Over the last 25 years, the U.S. has essentially overhauled its federal estate tax, most recently raising the exemption to $15 million per person under the One Big Beautiful Bill Act. All the while, the U.S. has kept the step-up in basis on capital gains at death, a provision eliminating capital gains tax on an appreciation of an asset that took place during the lifetime of that asset’s original owner.

“It’s sort of like a tax benefit, a giveaway of taxes to people who pass it on to heirs, rather than the reverse,” Parker said.

The current tax system could further incentivize wealthy Americans to hold onto assets longer before passing them down, prolonging the Great Wealth Transfer to an extent, but maximizing gains for the next generation of heirs. While BofA did not give specific data on for how long original owners were holding onto their businesses and other assets, the report said a “notable portion” of business owners had no plans to transition out of their businesses, and the majority had plans to ultimately transfer or sell ownership to family heirs eventually.

“That might be partly why people are holding on to these businesses for longer, and then handing them down to the heirs,” Parker said. “And the heirs can then either make them public or sell them or keep them.”

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