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Admissions advisor
7+ Year Member
Oct 13, 2011
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  1. Academic Administration
Since the new fed unsubsidized loan rates are lower, would it make sense to take out the full loan amount and use some of it to pay off the loans from last year (that had higher interest rate)?

Last year interest rates:
Fed unsub: 6.08%
GradPlus: 7.08%

This year interest rates:
Fed unsub: 4.3%
GradPlus: 5.3%

So basically i would be using this years loans to pay off all of last year's, reducing loan accumulation to basically 3 years in total for med school instead of 4.

One comment on a reddit thread said it was "fraud" but i dont see how it would be?
Can you give us more information? Are you a student, resident, ???


Moderator Emeritus
10+ Year Member
Sep 28, 2009
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  1. Attending Physician
The reality of this will depend on your situation. Insofar as this being "fraud," I think very few on this forum are qualified to give legal advice, and certainly without knowing specifics, it would be very difficult for anyone to advise you.
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