Best medical student loan?

[mediocriskid]

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Hey,

I was wondering if anyone knew of a lender that offered the best benefits for a stafford and grad plus loan. Obviously I'm going for the lowest interest possible and no origination fee. I was looking at the AMA chase sponsored loan but I was told by my financial aid adviser at school that this was discontinued. Does anyone know if this is true? I've read about people recommending wells fargo b/c they have no origination fee but they don't have an interest reduction when you begin repayment. Any advice is appreciated. I have to pick a loan by monday.

Scott

 

[nogolfinsnow]

Lots of discussion here: http://forums.studentdoctor.net/showthread.php?t=506333
The last page or so probably has the most current info because so many lenders have changed (read cut out) their benefits in the past few months.

 

[njbmd]

Moving to Financial aid

 

[yadayadadude]

I wouldn't put much stock in promises of interest rate reductions in repayment. Lots of students chose THE because they offered a generous repayment bonus (I think it was a rate reduction of 1.3%), but it was recently discontinued. As in, the bonus no longer applies to loans you took out when THE was still offering the bonus. I had no idea they could change the terms retroactively like that, but apparently, they can. So if I were you, I'd look for low/no upfront fees and place more importance on that.

 

[lucky lady]

As of July almost loans have a 1% orig fee and 1% default fee. all reductions are subject to change (if you read the small print). Fed Stafford loans are 6.8% and Grad Plus are from 7.9%(if you can find one) to 8.50%. with a 3 % orig fee. I found Discover has no fees. and 8.25% grad plus ( has 3% orig fee) with a .25% reduction for auto payment. Wells Fargo has fees. this is the only one I can find. If someone else has another one please let me know. Discover has only been in the student loans business for 1 1/2 years. they are adding 1500 schools this year so you will have to check with your school.