Federal Loans vs Private Alternatives

[ScienceNerd101]

Hi All,

I'm curious of everyone's impressions of the Grad PLUS loan. How does it compare to other private alternatives such as the Wells Fargo MEDCAP loan (or any others)? I've read numerous descriptions of both options, but was looking to hear a few personal experiences. Thanks!

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[keevwu]

I would also like to know. In addition, this year's Federal Direct Unsubsidized Loan is about 5.8% interest right? Last year was 6.2%? but the % lowers to 5.8% after 7/2015 correct? I am confused because some medical schools are giving me 6.2% while others are giving me 5.8%.

 

[TaroBubbleTea]

I would also like to know. In addition, this year's Federal Direct Unsubsidized Loan is about 5.8% interest right? Last year was 6.2%? but the % lowers to 5.8% after 7/2015 correct? I am confused because some medical schools are giving me 6.2% while others are giving me 5.8%.

All federal unsubsidized loans disbursed after 7/2015 (academic year 2015-2016) will have an interest rate of 5.84%. I think schools were quoting 6.21% because that was the most recent rate available.