Loan consolidation

[DrStacey69]

So now that I'm a 4th year and realize that I will have to pay back my gargantuan debt sooner rather than later, I figure it's about time I ask my more experienced colleagues for some advice.

When is the best time to consolidate? Is it better to keep paying only interest during residency and put off paying principal until I'm making real money? Does anyone know of any resources for advice on loan payback? Does anyone know of a nice wealthy couple looking to adopt a 30-ish medical student and help her pay back her bills?

I do plan on speaking to the financial aid officers at my school but sometimes it's better to get ideas from those who have done it already.

Any advice at all would be appreciated. Happy Thanksgiving, everyone.

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[Shrek]

Your best bet is to refinance right now. The interest rates are extremely favorable. The one catch is that you will have to start paying back your loan immediately. If you can somehow bear that burden, it's a no brainer. You will save tens of thousands by refinancing at today's low rates (perhaps the lowest we will ever see).

In terms of advice, I would stay away from your school's financial aid office. They don't necessarily have any specific training in financial planning. They know how to get you the money. You should speak with a dedicated financial planner. These are typically individuals with higher training/experience in this sort of thing.

Good luck