Financial Aid Question

[titleistek]

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To current dental students or going to be 1st year students. just got my fin aid award letter. what are the pros and cons of the new "Graduated PLUS Loans" vs Private Loans? i talked to my dentist that went to the same school. he says he's never heard of the "Graduated PLUS loan"

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[martinelli]

To current dental students or going to be 1st year students. just got my fin aid award letter. what are the pros and cons of the new "Graduated PLUS Loans" vs Private Loans? i talked to my dentist that went to the same school. he says he's never heard of the "Graduated PLUS loan"

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Grad PLUS loan is a new loan that was approved this year--which explains why your dentist had never heard of it. I believe the interest is around 7% and it acrues while you're in school. The federal government is the lender and I think, for the most part, the loan is better than most private loans. but that's just me; I don't like private loans because of all those hidden fees that you don't know about until you actually start repaying for it. For me, fed loans beat private ones anyday. Also, you can google the topic and will get better explanations than most of us SDNers. Better yet, call your financial aid office.

 

[NoBraces]

This PDF might be able to help you compare the two.