Loans in medical school

[NP545]

How does the loan process work in medical school?

Do you take out all of the $300K at once, or should you take $50K each year while you are in medical school?

In order to possibly increase your credit score (if your parents are paying for med school), I heard some people take loans from their own account, and have their parents transfer money into the account so the student can pay back the loans with the parents' money, while at the same time increasing their credit score. Is this advisable?

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[DrBowtie]

How does the loan process work in medical school?

Do you take out all of the $300K at once, or should you take $50K each year while you are in medical school?

In order to possibly increase your credit score (if your parents are paying for med school), I heard some people take loans from their own account, and have their parents transfer money into the account so the student can pay back the loans with the parents' money, while at the same time increasing their credit score. Is this advisable?

You get money yearly.

It's dumb to take out loans unless you need them since there are origination fees.

 

[NoDakDok]

We receive our loans on a semester basis.

And if your parents can afford to pay your tuition, just have them pay it. The less loans you take the better. Absolute best case scenario after your parents just paying for your schooling or getting grants/scholarships is taking out 0% loans (parents paying your tuition and you paying them back for it at 0% interest).

 

[PreciousHamburgers]

Any way to funnel your tuition and fees through a credit card that awards miles? Do schools accept credit card payments?

 

[redpanda]

Any way to funnel your tuition and fees through a credit card that awards miles? Do schools accept credit card payments?

Some do, but there's usually a surcharge that will wipe out any benefits your credit card would give you back.