Grad PLUS vs Private loan

[usbbr]

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It's my first time taking out the loans.
I went through the FAFSA and taking to people.. they said the GRAD PLUS has 8.5% fixed interest rate for 4 years of med schools...

8.5% is high for me since the economy is not that great and I assume the private loan is lower than 8.5%... I check some of the major banks to see if they offer any better deals but don't have much success....

Can you guys give me some suggestions whether I should take out Grad PLUS loan or the private student loan? which private student loan has better deal?

Thanks

 

[bruinbadger]

Sallie Mae offered me 5.5% (LIBOR + 3%) after credit check for the private loan.

 

[HumidBeing]

Moving to Financial Aid Forum. Those who are interested in following this thread may read and reply there.