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- Feb 27, 2007
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Hi all, I'm a little confused about the Federal student loan system. I think I have something figured out, but I'm not sure if it's 100% accurate. Well, here's what I imagine my situation to be, and you can tell me what's wrong with this plan...thanks in advance..
-OK, I figure I'll need about $150,000 total for optometry school, and I'll probably take the federal loan route at 6.8% interest. So my understanding is that according to my FAFSA application, I may given a certain "Subsidized" amount, which has a maximum, and the remainder of my loan will be "Unsubsidized." For the unsubsidized portion of loan, I'll be entirely responsible for the interest, which I figure I'll pay off while I'm in optometry school. Then, once I'm graduated and get a job, I start paying off my principal loan amount, of which I can extend the payment over a 30-year period?????
- Please let me know if this is a correct "plan" or "scenario" or whatever lol..I appreciate all the help.
-OK, I figure I'll need about $150,000 total for optometry school, and I'll probably take the federal loan route at 6.8% interest. So my understanding is that according to my FAFSA application, I may given a certain "Subsidized" amount, which has a maximum, and the remainder of my loan will be "Unsubsidized." For the unsubsidized portion of loan, I'll be entirely responsible for the interest, which I figure I'll pay off while I'm in optometry school. Then, once I'm graduated and get a job, I start paying off my principal loan amount, of which I can extend the payment over a 30-year period?????
- Please let me know if this is a correct "plan" or "scenario" or whatever lol..I appreciate all the help.