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- May 17, 2005
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Can anyone share their Stafford loan amounts for Dental school? Has it gone up for 2007/2008?
My 1st year I received $45,166 ($8500 sub, $36,666 unsub). I think this was the limit at the time for 2006/07 at 6.8%
Just received my letter for 2nd year. It was lowered to $40,500 ($8500 sub, 32,000 unsub). After contacting our financial aid officer, she said they are saving our Stafford for our senior year since students are running out of money. She wants us to make up the difference using GradPlus at 8.5%. Why would I want to take out a 8.5% loan over a 6.8% loan. The GradPLus also charges an origination fee (3%). No thank you. If we indeed reach our Stafford limit my senior year, then I will take out GradPlus and Private loans since I will be closer to repayment. Why would I want to let a 8.5% loan accumulate for the next 3 years with no repayment when I should be able to use the full amount of Stafford at 6.8% with no origination fee.
Am I not entitled to the full Stafford amount every year? If I reach my total limit my senior year, then so be it. I do not have any undergrad loans so this may not be a problem.
Thanks.
My 1st year I received $45,166 ($8500 sub, $36,666 unsub). I think this was the limit at the time for 2006/07 at 6.8%
Just received my letter for 2nd year. It was lowered to $40,500 ($8500 sub, 32,000 unsub). After contacting our financial aid officer, she said they are saving our Stafford for our senior year since students are running out of money. She wants us to make up the difference using GradPlus at 8.5%. Why would I want to take out a 8.5% loan over a 6.8% loan. The GradPLus also charges an origination fee (3%). No thank you. If we indeed reach our Stafford limit my senior year, then I will take out GradPlus and Private loans since I will be closer to repayment. Why would I want to let a 8.5% loan accumulate for the next 3 years with no repayment when I should be able to use the full amount of Stafford at 6.8% with no origination fee.
Am I not entitled to the full Stafford amount every year? If I reach my total limit my senior year, then so be it. I do not have any undergrad loans so this may not be a problem.
Thanks.