Loans

[freakedfreshman]

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Hey Guys,

So I'm currently looking into loans for dental school. I already applied for FAFSA, but are there any other loans or options I should consider that might have lower interest rates?

Thank You in advanced,

 

[Junebug1665]

Do you know if there has to be a special circumstance for you to be offered a Perkins loan? I'm fairly sure my school offers them but I was only given the Stafford and Grad plus...

 

[Flipper405]

No, I believe it's need-based, and they determine this from your application. It's strange because I got Perkins 1st and 4th year, but not 2nd and 3rd despite my circumstances being the same throughout pretty much. Who knows how they figure this out...

 

[Rlow04]

Take out federal loans so you qualify for programs like IBR and Pay as you earn. The federal gov is passing legislation that is seriously changing how student loans are handled and if you're stuck with private loans none of it will help you.

 

[fuqele]

So grad plus loan is still better than private ones? My parents said that they're able to get private loans at ~3-4%, which is significantly better than 7.9%, but it would have to be under their names.

 

[Silent Cool]

So grad plus loan is still better than private ones? My parents said that they're able to get private loans at ~3-4%, which is significantly better than 7.9%, but it would have to be under their names.

I would take the federal loans even though the interest rate is higher. When my friend finished D-school, she couldn't even afford the monthly note, so she had to go on IBR. If you have private loans, there is no income-sensitive repayment options. Also, if you don't finish for some reason, there would be a variety of federally-sponsored options to have your loans forgiven. Not so with the private loans.