It depends if you have an established lender before you started college. Some lenders about 4-5 years ago gave out private loans with interest rates of around 5%. If you consolidated your loan, and let your lender know that you will use them for med school, some of them might even go as far as locking in your loans for med school at pre-inflation levels. Ask your current undergraduate lender and see if they can provide this for you as well.