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Wondering if you all could help withh this. Here's my deal: I have a rather substantial debt in previous student loans (like ~$70,000). My wife and I also have roughly that amount in a money market fund.
From what I've read on other threads, FAFSA will allow me to deduct my debt from my savings. But some school-specific forms just ask for my savings.
My question is this: would it be better to pay off these loans before applying for financial aid for med school (thus eliminating my savings and possibly helping out my EFC). Or, should I consolidate these loans at present low interest rates, defer repaying through med school, and use my savings for tuition?
Any help would be sooooo appreciated!!! Thanks!!!
From what I've read on other threads, FAFSA will allow me to deduct my debt from my savings. But some school-specific forms just ask for my savings.
My question is this: would it be better to pay off these loans before applying for financial aid for med school (thus eliminating my savings and possibly helping out my EFC). Or, should I consolidate these loans at present low interest rates, defer repaying through med school, and use my savings for tuition?
Any help would be sooooo appreciated!!! Thanks!!!