Financial Aid question

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Hi, I'm premed and I'll be a freshman in college this fall. I don't know too much about the financial aid process, but I was wondering how having student loans in your undergrad years might affect getting financial aid for med school. Do they make you start paying loans for undergrad while you're in med school, or can you wait until after you graduate?

Thanks.

Originally Posted by Gas0line Ali

Hi, I'm premed and I'll be a freshman in college this fall. I don't know too much about the financial aid process, but I was wondering how having student loans in your undergrad years might affect getting financial aid for med school. Do they make you start paying loans for undergrad while you're in med school, or can you wait until after you graduate?

Thanks.

Most student loans will be deferred anytime you are a half-time student or greater. Some are automatically but most you need to notify all the companies in writing. You need to check with all of your loan holders as some private loans if they are 'deferred' (which is the term for postponing payment due to the fact you are still a student) could require monthly/quarterly payments of interest only.

My advice is to contact whomever your loans are with and/or read your promissory note in order to find out this information.

Thanks so much! I'm kind of worried, b/c even though I'm just a frosh, I plan on transferring to some other schoolthat I think I'll enjoy much better next year, which, unfortunately most of the schools I'm interested in are mad expensive And I'm already aware that a lot of people graduating from med school can accumulate $200,000+ in debt b/c of loans, so I was super worried. But I appreciate the info you've given me.

Originally Posted by mshheaddoc

Most student loans will be deferred anytime you are a half-time student or greater. Some are automatically but most you need to notify all the companies in writing. You need to check with all of your loan holders as some private loans if they are 'deferred' (which is the term for postponing payment due to the fact you are still a student) could require monthly/quarterly payments of interest only.

My advice is to contact whomever your loans are with and/or read your promissory note in order to find out this information.