Need Advice on Loans

[RU1992]

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Hey everyone! I just needed a little advice on loans for dental school. I've never taken out loans in the past, so this is really a new experience for me and would appreciate some help. So essentially, I want to take out the loans with the lowest interest rate, as I'm going to be paying back these loans as fast as possible (I really want to do it in the fastest way, maybe even 2 years if thats possible). Paying them back is my top priority over everything else, so I was wondering what the best option would be in terms of lenders. I estimated that I'm going to need between $66,000-$70,000 a year depending on the cheapest living situation I can find. What would be my best option? Should I take out the Federal loan, which is about $44,000? If I do, where is the best place to get the remainder of the money? Or is there a better option for me? I'd really appreciate any help you guys could provide. Thank you so much in advance!

 

[txaggie03]

Hey everyone! I just needed a little advice on loans for dental school. I've never taken out loans in the past, so this is really a new experience for me and would appreciate some help. So essentially, I want to take out the loans with the lowest interest rate, as I'm going to be paying back these loans as fast as possible (I really want to do it in the fastest way, maybe even 2 years if thats possible). Paying them back is my top priority over everything else, so I was wondering what the best option would be in terms of lenders. I estimated that I'm going to need between $66,000-$70,000 a year depending on the cheapest living situation I can find. What would be my best option? Should I take out the Federal loan, which is about $44,000? If I do, where is the best place to get the remainder of the money? Or is there a better option for me? I'd really appreciate any help you guys could provide. Thank you so much in advance!

If you are able to pay back your 260-280K in two years, then you likely already have the money. Dont take out loans, and instead buy a term life policy.

 

[CMistry]

The best option I've found is the private educational loan. I get mine through Sallie Mae; the interest is about a third of what the government offers but you do need a very strong consigner. Also the repayment has shorter terms than the federal loans.