How do loans work?

[StarCraft]

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After getting accepted, is the next step filling out the FAFSA forms? I've been doing the FAFSA for 4 years for undergrad, and every year I renew it for the upcoming school year. Does FAFSA work for dental school as well? Finally, I wanted to know how loans work. I've never took any out before. I only took Cal grants and Pell grants. Are loans just like a credit card? They give you a card and you charge all your school fees, apartment fees, and supplies to the card and once you are out of school, you pay back the total you used? I'm a little confused on how they work. Thanks for all the help.

 

[lhtran07]

For grad school, I think you have to fill out a new FAFSA instead of renewing it. But then for second year of dental school you can just renew. I could be wrong though.

I never took out any student loans for undergrad, but it's just like getting a scholarship. They issue you a check for x amount before fall semester...which should cover tuition, boarding, expenses if you budget yourself. Then in the spring semester they issue you another check.

You'll have to look it up, but there's subsidized and unsubsidized loans. One accrues interest starting while you're in school and one doesn't start to accrue interest until you're out of school....or something like that. I'm a bit fuzzy on the details. Either way, you'll want to pay off the loans ASAP once you graduate.

 

[frenchriviera24]

After getting accepted, is the next step filling out the FAFSA forms? I've been doing the FAFSA for 4 years for undergrad, and every year I renew it for the upcoming school year. Does FAFSA work for dental school as well? Finally, I wanted to know how loans work. I've never took any out before. I only took Cal grants and Pell grants. Are loans just like a credit card? They give you a card and you charge all your school fees, apartment fees, and supplies to the card and once you are out of school, you pay back the total you used? I'm a little confused on how they work. Thanks for all the help.

same Q asked in pharmacy thread:
http://forums.studentdoctor.net/showthread.php?t=290134