- Joined
- Dec 2, 2005
- Messages
- 175
- Reaction score
- 1
DRLaura said:I chose Creighton. I can't wait to start. Now I get to go through all the wonderful finacial aid info you all are doing. Could one of you email me your spreadsheet so that I could see which lender would be best. Also (I'm sorry if this question has already been answered) but wouldn't it be better to go with an alternative loan for any remaining funds needed rather than a Grad PLUS loan. The grad plus loan has origination fees and most alternative loans do not. And since my first year alone I will have to take 43000+ in other loans I don't really want origination fees.
I would say take the Grad PLUS loans. My understanding is if you die (hopefully not) your significant other doesn't have to pay off the loan balance. With private loans, this is not the case.
More importantly, the interest rate is fixed. Private loans can't really touch the interest rate of 8.5 percent. I have great credit, and when I applied for private loans my interest rate was already above 8.5%. Plus, that rate can climb exponentially without anything to do with your credit. I don't like that idea with potentially 65-80k in loans.
Just my $0.02,