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I have some investment savings that I could use towards paying for medical school, but I'm leaning towards taking out substantial loans because interest rates are so low right now. Any thoughts on this strategy and how much money I should take out? My EFC is too high to get any subsidized aid or grants and my estimated M1 budget is about $51K. I can get $32K in unsubsized aid and $19K in private loans at 3%.
I feel like it makes sense to take the private loans since the rate is so low, but I'm nervous about having that much debt. I would "feel" better about taking only Stafford loans, but I also want to hold onto my nest-egg/safety net.
Thanks in advance for your thoughts.
Laurie
I feel like it makes sense to take the private loans since the rate is so low, but I'm nervous about having that much debt. I would "feel" better about taking only Stafford loans, but I also want to hold onto my nest-egg/safety net.
Thanks in advance for your thoughts.
Laurie