loan calculators accurate???

[Faux]

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Correct me if I'm wrong but for those that are borrowing, you need to borrow for each year and during that year, interest starts charging and then the cycle repeats for the 2nd year and so on. Right?


Most calculators just ask you for the amount of debt and the number of years of preferred repayment. Does anyone use anything different?


Also, its to my understanding that grad students can no longer get subsidized loans. I never took advantage of these during my undergrad, is there no way i can access that now?

 

[IlDestriero]

Yes subsidized loans are no more. Back in the day we all took them out.
No interest. Can't beat that.
I paid mine off when I finally had to make a payment.

 

[sazerac]

The rules for student loan debt are very complicated, especially concerning interest and when it capitalizes (i.e. when you have to pay interest on interest).

The only calculator that is worth your while is the Medloans FIRST calculator from the AAMC website. All others are crap.

This tool lets you accurately analyze PSLF, deferment, IBR, the jump in income between residency and attending status, PAYE, etc.