No cosigner?

[kittycat090198]

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[dr.d00m]

Honestly, I wouldn't take out private loans...it's a slippery slope that could backfire in the long run. The good thing is that there are two kinds of federal student loans you can take out for dental school:

1. Federal Direct Unsubsidized Loan: Non-need based, low interest. Usually has a cap of around $40,000 you can get per year
2. Grad PLUS loans: higher interest rate but not unreasonably so, not capped. You can take out the rest of what you need using this

I would try to find ways to limit the amount you take out in loans as much as possible (scholarships, finding a cheap place to rent, live frugally, etc.)

 

[kittycat090198]

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[whaleofatale]

I was wondering if anyone knew what happens if I am unable to get a cosigner for student loans? From what I understand for federal loans I won't need one. But what about the rest of the money I need to find funding for... presumably I'd use private lenders, correct?

I've seen this thread/question asked by international students including Canadian applicants but this is not my situation so was just looking for some insight.

Thanks!

You will not need private loans as long as you meet the basic eligibility criteria for federal student aid and do not have an adverse credit history as defined by the Department of Education. As long as you meet these requirements, then you can borrow between $40,500 - $47.167 from the Direct Unsubsidized Loan each year (actual amount determined by the length of your academic year), and cover the rest using the Grad PLUS.

 

[kittycat090198]

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