Quite true. I have no idea how people can find private loans with lower interest rate than federal loans. How can private banks make money when they're charging less interest than the feds? If they are charging lower interest than feds, it is most likely variable interest, not fixed. At my financial aid talk in my interviews, all of them warned about this. The financial aid advisor told us that she's seen many instances where students believed they had a lower interest rate, but then the rate skyrocketed later.
No IBR, no loan forgiveness with a generally higher interest rate. I would be scared to take on that much debt at least for the first two years having around $100k in private loans just for tuition. It doesn't include living costs.
BCOM's tuition is:
Tuition: $46,650
BCOM Student Fees (health center, activities center, campus tutoring, information technology, campus transit, etc.) $1,350
Fully comprehensive computer with E-books, E-material and COMLEX/USMLE Test Prep, including
Kaplan and
Firecracker $1,900
Adding all of these=$49,900.
I don't believe BCOM's tuition should be this high, especially in an area like New Mexico. PCOM's tuition is even lower than this.