Options for paying for Dental School?

[averagejoe805]

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OK, so im heading to dental school in August. Im non-trad, worked for 10 years and have the cash set aside to pay about half of the cost. Also, own my home with +/- $100K in equity. 800+ Fico score. Whats the best loan option from a financial planning perspective?

Federal Programs:
Perkins - did not qualify
Unsubsidized Stafford 5.41% rate + 1.072% fee wins over the Grad Plus 6.41% + 4.288% fee

but what about :
Wells Fargo MedCap approx 6% rate, no fee and seems to have similar terms as the Stafford.
Sallie Mae Smart Option 5.74% rate no fee and seems to have similar terms as the Stafford.
others?
refi my house at ~4% - downside is higher mortgage due immediately~watch rates and possibly save this option for fourth year?

Anyone have experience with any of these alternatives?

 

[sgv]

The advantage of federal loans is that you have flexibility and leniency in payments upon graduation. This will be usefully if you plan on specializing or have a low disposable income due to whatever reasons (new practice with few patients, part time jobs, etc.) The payment schedule is fairly strict with private loans.

Be grateful for those federal rates. They used to be 6.8% and 7.9% just a year ago.

 

[Glimmer1991]

Be grateful for those federal rates. They used to be 6.8% and 7.9% just a year ago.

Come this July, I think they are predicted to jump right back up there.

 

[averagejoe805]

Wells Fargo MedCap also has flexibility&leniency including 4 year post graduation forbearance if you pursue speciality or internship. 6 month grace period after graduation. 6 month additional no-pay financial hardship option.
https://www.wellsfargo.com/student/repay/

Can anyone chime in whose actually taken one of the private loans? ...especially if you chose one over a federal loan.

 

[gsquared]

I would also like to hear from a few people who have taken out private loans