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American Medical Students Loan/Funding Irish Medical Schools

sepaul

Senior Member
7+ Year Member
15+ Year Member
Aug 2, 2003
119
1
La Jolla, CA
    Hey Yaaaaa,

    I have accepted an offer by UCD and filled out the Stafford (Key) and the Alternative loan by ISLP.

    The Stafford Sub and Unsub ($18,500). That one is a no-brainer, no real wiggle room here.

    That leaves about $31,500 greenbacks to muster up. You can only get $25,000 by yourself.

    I just spoke with IESC (1-8888-296-4332) who broke it down like this: you pay prime (5.5%) plus 0.25% if you are credit worthy. Then you pay a 6% origination fee plus a 3% tail fee (Educaid/Wachovia Bank). This amounts to about $6,000 for each $25,000 you take out. For five years $125,000 ends up being about $155,000. After that point, the accrued intrest is combined with the principal and then that lump sum starts to to accrew interest while you defer during your residency. You can defer for up to 9 months afteryour residency ends.

    I guess the take home is take out as little as humanly possible. The extra 6,000 for each 25,000 grand is 25% of the value of the loan!!!! Crazy!
    What are yall doin to pay for dis?
    -se
     
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