impt question about financial aid

[MilDoc23]

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After subtracting the stafford loan, health professions loan, perkin's loan, and a grant from the budget, I still need about 28,000 to cover my 1st year's expenses. I have the options of applying for a grad plus loan or an alternative loan to pay for school. Any of you who have experience with this process and these types of loans, can you please help me out? Which route do you recommend?
Thanks a bunch.

 

[straightwire]

After subtracting the stafford loan, health professions loan, perkin's loan, and a grant from the budget, I still need about 28,000 to cover my 1st year's expenses. I have the options of applying for a grad plus loan or an alternative loan to pay for school. Any of you who have experience with this process and these types of loans, can you please help me out? Which route do you recommend?
Thanks a bunch.

Why don't you talk to your financial aid counselor at Penn?...I remember Penn also has a program that offer a portion of your loan interest free while you are in school in addition to the $18,500 Stafford loan you can get...I forgot exactly the name of the loan...but you should look into it. Good luck....

UPenn SDM Class of 2001

 

[jackbauer!]

I agree with straightwire..talk to your counselor.

But to answer your question to the best of my ability: after maximizing scholarship/grant, perkins/health prof. and stafford- the next best option is gradplus. This loan is a government backed 8.5% fixed rate loan. The key words here are "fixed rate." Private loans may carry a similar rate, but are variable. Variable = bad.

Hope that helped.

jb!🙂