Current Dukies:
What lenders are you using for your Stafford Loans?
Heh, not a current Dukie yet, but I've read that about half use Duke/Sallie Mae and half use Medloans (esp. if they're borrowing more than just Staffords). However, I just ran the calculations on the various lenders last week, and I don't actually think Duke is the best deal. (Use this site:
http://www.finaid.org/calculators/loandiscountanalyzer.phtml.)
**Begin boring FinAid discussion**
The lenders fell into two discount categories: cash back/credit (Duke, MedPreferred) and interest rate reductions (Bank of America, Access, and Medloans). It makes them easy to compare, and if you look up the loan terms, it's pretty clear that in each group, the two best deals were MedPreferred and Medloans.
I'm borrowing around $35K in Stafford loans only (sub + unsub), so I calculated using those numbers. MedPreferred makes you pay the origination fee (3%), but gives you some pretty great cash back/credit offers in the repayment period. Medloans pays the origination fee and gives you some nice interest rate reductions. For my loan, the difference in overall payments (principal + interest) was about $700 less for MedPreferred over the course 10 years, assuming that I paid the interest while in school. If I didn't pay interest, MedPreferred had a $1500 advantage. However, I chose Medloans because 1) I will be paying the interest while in school and 2) the Medloans interest rate reductions begin during the in-school period, as opposed to the cash back that MedPreferred gives
after graduation, so that my monthly interest payments while in school are less for Medloans. Since that's when I'll be less likely to earn any money, I figured that the extra $5/month over the 10 years after graduation were worth it.
**End boring FinAid discussion**
Sorry to have intensified the boringness of the thread.
Dude, this thread is almost as boring as the work I have to do. Let's play the get to know you game.
1.) Where are you from/where did you go to undergrad?
2.) What's your favorite color?
3.) What's your favorite food?
4.) What are you doing this summer?
5.) Which Grey's Anatomy character do you most relate to?
Ok, sorry these questions are lame, but I think I have a virus or something and I feel too lousy to be creative.
1.) Fairfax, VA, which, unlike pretty much the rest of the state is NOT the south. It's just outside Washington, DC, and, along with Charlottesville (where I went to school--UVA), is the only region in the entire state that consistently votes blue. (For reference, I'm purple, leaning blue.)
2.) Purple. Not associated with the previous question. However, I also like really deep, vivid colors in general: scarlet, emerald, royal blue, etc.
3.) Hmm... that's tough. I like food, in general. A lot, as you can tell by my constant references to baking/cooking. Pepperidge Farm Goldfish make me happy, except the new colored ones, which just creep me out. I think the one food that I will never turn down, though, is ice cream, in just about any flavor.
4.) Teaching MCAT prep for Kaplan, tutoring, going to the beach, getting some last bits of quality time with friends before I leave for Durham.
5.) Bailey. Most definitely.