Loan Questions

[ASUDDS]

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Does anybody know where you can find out about types of loans to take out? Are some loans better than others?

 

[snoopdoug]

Does anybody know where you can find out about types of loans to take out? Are some loans better than others?

You could check out the financial aid board: http://forums.studentdoctor.net/forumdisplay.php?f=30

Here are a few of the more common loans:

Federal Perkins Student Loan (5% interest rate, interest free in school, no loan fees, $6000 max/year).

Federal Subsidized Stafford Loan (variable interest rate up to 8.25%, interest free in school, 3% loan origination fee, $8,500 max/year).

Federal Unsubsidized Stafford Loan (variable interest rate up to 8.25%, interest accrues while in school, 3% loan origination fee, $30,000 max/year)

Health Professions Loan (5% interest rate, interest free while in school, no loan fees, $2,500 + tuition max/year).

Hope this helps.

 

[ecdoesit]

BofA has one of the best private loan.
u could also check chela(my stafford lender).
watch out for origination fee, and another fee, and interst rate, etc
go to individual bank's website
they usually have student loan and health professional loan section
good luck
remember that u could ask for a deferment while u r at sch.

 

[Mo007]

BofA has one of the best private loan.
u could also check chela(my stafford lender).
watch out for origination fee, and another fee, and interst rate, etc
go to individual bank's website
they usually have student loan and health professional loan section
good luck
remember that u could ask for a deferment while u r at sch.

what is BofA?

Any private loans out-there that are good as federal loans?

by the way - is health professions loan a federal loan?

 

[ecdoesit]

bank of america or BA should i said.

nah, interet rate is pretty low still. but not as good as fed loan for sure.

it also depends on ur sch as well. some sch can argue for a better rate for their students. in general, we have a lower rate cos we tend to be able to pay back our loan.

not exactly. fed loan is part of the health prof loan.
there are numerous kinds of laons. u will learn as u explore

what is BofA?

Any private loans out-there that are good as federal loans?

by the way - is health professions loan a federal loan?

 

[Mo007]

bank of america or BA should i said.

nah, interet rate is pretty low still. but not as good as fed loan for sure.

it also depends on ur sch as well. some sch can argue for a better rate for their students. in general, we have a lower rate cos we tend to be able to pay back our loan.

not exactly. fed loan is part of the health prof loan.
there are numerous kinds of laons. u will learn as u explore

Do you know how much loan BofA can offer to a dental student.... say the school you got into is private? - or is it like partial contribution?

if you have the link to BofA private loans, please post it.

Thanks

 

[ASUDDS]

What is the diffence between subsidized and unsubsidized

 

[snoopdoug]

What is the diffence between subsidized and unsubsidized

http://studentaid.ed.gov/students/publications/student_guide/2004_2005/english/types-stafford.htm

A subsidized loan is awarded on the basis of financial need. You won’t be charged any interest before you begin repayment or during deferment periods. The federal government “subsidizes” the interest during these periods.


An unsubsidized loan is not awarded on the basis of need. You’ll be charged interest from the time the loan is disbursed until it’s paid in full. If you allow the interest to accrue (accumulate) while you’re in school or during other periods of nonpayment, it will be capitalized. This means the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.