Loans that don't accrue interest in med school

[scarletgirl777]

---

Members do not see this ad.

Is the subsidized Stafford loan the only possible loan you can take out that will NOT accumulate interest while in school? How common is it for a med school to directly loan you money that won't accumulate interest while in school?

Also, as best I can figure out, the federal unsubsidized loans have a fixed 6.8% interest rate. Is that generally the best that you can get?

 

[yadayadadude]

1. No. Perkins loans are also subsidized. However, eligibility for Perkins loans varies by school and it's somewhat murky. For example, I was offered the full allotment of Perkins loans ($6K/year) several years running as a medical student, but my sense from SDN is that this is unusual. I also think some richer institutions offer institutional loans with subsidized interest. This is also unusual and will probably become even more so in the current economic climate.
2. Perkins loans carry at 5% interest rate in repayment. Other than that, the 6.8% is the best thing out there.

 

[akpete]

I agree with the murkiness of Perkins loans. Some years I got it, some I didn't, and I can't figure out any rhyme or reason to it.