grad plus loan concerns

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Alright I have a few questions about grad plus loans. I am starting as an m1, and as of right now, I am probably gonna get 42k in stafford loans and about 8 K in grad plus loans. It is my understanding that the loans are disbursed periodically and you don't get all the money at once.

Do you get money from the stafford loans first, and then from grad plus or do you get money from both lenders together?

Lets say in the middle of the year, I realize that I can make do with less, and decide to reduce my grad plus loan. Do i still pay the 4% origination fee on the original 8k, or does it get prorated to the amount of money I actually end up taking?

When planning the loan, is it better to ask for a little bit more than you need, and reducing it later, or to ask a little bit less than you need, and increasing it later?

I also don't really understand the pros/cons of IBR vs forbearance. In which situations/specialties is it more advantageous to do IBR. There just seem to be so many different factors, and options of repayment, that I can't really determine which would be the best way. I am beginning to think they should make accounting 101 a pre req.

Don't take this the wrong way... but you need to be asking Direct Loans or the bank that will be servicing the loans. I've taken out Grad PLUS before, and trust me on this: it's better to just ask the questions at the source than try to root around. Students don't really know, and FA officers at your school may not be of much help on the nuances. Direct Loans link is below.

If you need to call them, give yourself a solid block of time to do it. Sometimes the queue moves at the speed of government over there.

Good luck!

www.direct.ed.gov

what he said. also, I would not worry about repayment options at this time. things will likely change over the 4 years you are in medical school (the government tends not to have long term plans/goals...). I'd probably borrow slightly more than needed and then you can send it back (if you are self-disciplined)

You will have two disbursements each have half of the total loan amount for the year. It will include Staffords and Grad Plus with each disbursement. You can return unused funds after disbursement but you have a limited time. Don't bother. You will need the money. Expenses also increase (especially in M4) with interviews and application fees which are not a part of the cost of attendance.