How to navigate applying for loans

[teethandthings]

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Hey all!

I was wondering if anyone can help me out with navigating the best way to take out loans for dental school. I received 20,500 through applying through FAFSA, and was wondering if applying for a loan with Lend key would be a good idea or if there is a better/cheaper way for me long term to go about this.

Any help or advice would be appreciated! Thanks.

 

[Pearl E. White]

Hey all!

I was wondering if anyone can help me out with navigating the best way to take out loans for dental school. I received 20,500 through applying through FAFSA, and was wondering if applying for a loan with Lend key would be a good idea or if there is a better/cheaper way for me long term to go about this.

Any help or advice would be appreciated! Thanks.

What about Grad Plus?

 

[REACHOn]

Are we offered Grad Plus if we applied for FAFSA in California schools? I was under the assumption they will calculate the left over amount of tuition after scholarships/subsidized/etc loans and then offer us the Grad Plus loan to cover the rest? Yay for more promissory note. Is that correct or is there a step I am missing?

 

[redhotchiligochu]

Yes, that’s correct. You get unsubsidized (stafford) direct loans ~6% interest and then the remaining disbursement is covered by Grad Plus ~7% interest. Unfortunately, interest is accrued immediately following disbursement, unlike undergrad subsidized loans, which doesn’t accuse interest until you graduate.

Regarding OP, it is best to go with the federal loans. Private loans may change you more interest and may get you with adjustable interest rates, along with the fact that federal loans can be forgiven through PAYE/REPAYE while private loans cannot.

Are we offered Grad Plus if we applied for FAFSA in California schools? I was under the assumption they will calculate the left over amount of tuition after scholarships/subsidized/etc loans and then offer us the Grad Plus loan to cover the rest? Yay for more promissory note. Is that correct or is there a step I am missing?

 

[teethandthings]

Okay, I was just a little confused but all of your answers really helped, thank you so much everyone

 

[henicouture]

when or how do we apply to the Grad plus loan?

 

[zToothinator]

when or how do we apply to the Grad plus loan?

For my school, here's some info on how to apply (and a video) Federal Graduate PLUS Loans – The Office of Scholarships & Student Aid

Once you receive your financial aid package, the financial aid office can likely provide next steps on applying for the Grad PLUS loan since you'll need to accept any financial aid loans received.