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- Feb 7, 2001
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Well... got my financial aid letter. The money involved is almost mind boggling. My plan is to simply put off all thoughts of the money until after residency. I am trying to figure which "alternative loans" will be the best for me with this plan. I am supposed to come up with 9500 after maxing out the Sub and UnSub Stafford Loans. I figure I will need to take about 6000, not the whole 9500. But all the options thruogh the schools "referred lenders" are crazy.
You have Fees deducted at disbursement, Fees added at repayment, the interest rates, and your option to pay on interest while in school (which doesnt make much sense to me - I would have to take more loans to simply make those payments), or deferring on principal and interest until after graduation.
All of these lenders have different numbers that they use, and I am driving myself crazy trying to figure out which loan is going to be best for me in 8 years (when I can finally start paying them back after residency). YIKES!
How do you guys choose which loan to use with all these options?
What kind of budget does your school give you guys? Do you normally spend more or less than your budget?
Here is a break down from Creighton for this year:
1st Year:
Tuition 31,962
Living Allowance 10,350
Travel 1,000
Hepatitis 200 (Hep B?? did it)
Books/Supplies 2,190
Loans Orig. Fees 1,150
Health Insurance 200
---------------------------
48,052
So, how do you guys compare? I am sweatin about these alternate loans...
[This message has been edited by docuw (edited March 31, 2001).]
You have Fees deducted at disbursement, Fees added at repayment, the interest rates, and your option to pay on interest while in school (which doesnt make much sense to me - I would have to take more loans to simply make those payments), or deferring on principal and interest until after graduation.
All of these lenders have different numbers that they use, and I am driving myself crazy trying to figure out which loan is going to be best for me in 8 years (when I can finally start paying them back after residency). YIKES!
How do you guys choose which loan to use with all these options?
What kind of budget does your school give you guys? Do you normally spend more or less than your budget?
Here is a break down from Creighton for this year:
1st Year:
Tuition 31,962
Living Allowance 10,350
Travel 1,000
Hepatitis 200 (Hep B?? did it)
Books/Supplies 2,190
Loans Orig. Fees 1,150
Health Insurance 200
---------------------------
48,052
So, how do you guys compare? I am sweatin about these alternate loans...
[This message has been edited by docuw (edited March 31, 2001).]