Loans for med school

[coni81]

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Hi

I’ve been extremely fortunate to have been accepted to a med school this cycle, but I’m left completely clueless with the financial aid package I got.

Basically, they offered Direct Grad PLUS loan for half of my tuition, and Direct Med Unsubsidized plan for the other half. I have some savings and my parents would be able to contribute so that I wouldn’t have take loans to cover the full tuition. In this case, which loan do you suggest I take? And can you tell me why?

 

[mchammer]

Check the interest rates. I'm pretty sure the unsubsidized loan is around 4% and the grad plus is around 7%.

 

[Schwifty]

Reduce your grad plus loan first, it has the higher interest