Interest rates on med school loans?

[XT777]

what interest rates you guys got on your loans?

thx,

XT777

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[pratik7]

i havent compared it to any other lenders, but i am getting 4.7%

 

[ZappBrannigan]

The government controls interest rates on federal loans so if you're discussing stafford loans then the interest rate will be the same for all lenders. I believe the only differences are in repayment incentives, origination and guarantee fees, and so on.

 

[AStudent]

I assume you mean Stafford (Perkins = 5% fixed, Stafford = varies, cap of 8%, Private = skys the limit)

4.7 is the going rate nowadays from most of the major lenders (Salliemae/Access Group), but that is probably going to change for next academic year. By comparison, if you took out your loans last year they were at 2-3%.

There's still a max cap of 8%