paying for school

Discussion in 'Medical Students - MD' started by G3, Feb 23, 2002.

  1. G3

    G3

    Does anyone have any tips for creative funding for school. I was recently accepted and would like to consolidate a car loan into my student loans. Are there any good sources for searching out grants, scholarships, & $$$$$$.
     
  2. Pegasus

    Pegasus Senior Member
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    I didnt bother to do all that stuff, except pay off my credit card bills. I live totally off financial aid, and have a MUCH more comfortable living than in undergrad, where I had to work. So, it really depends on the school you are heading too and how much they allow per year of money. I got around $20,000 in state, and that was plenty for me. So, I dont have much advice, but dont worry about having to take out loans, most of us have to anyway.
     
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  3. double elle

    double elle Senior Member
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    Look at things carefully before you consolidate ANYTHING! Our payments on our student loans are about 500 bucks a month. We could lower our payment to 230 or so over the next 25 years (vs 10 years at 500 a month) The difference? A whopping 50K in interest!!!!!!!!!!!!!!!!! Put your undergraduate loans on deferrement while you are in medical school. Use ANY money you can afford to pay on any unsubsidized loans you may have. Consolidating may seem easier..but it's expensive in the long run.
     
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  4. LoanGrl

    LoanGrl Member
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    Double elle has good advice. REMEMBER: anything you borrow now you have to pay back! And you will be paying it back most likely when you have a mortgage, family, etc. The longer you take to pay, the more money you'll be paying! BORROW ONLY WHAT YOU NEED. Budget your money carefully. Pay back what you don't use. AND READ THE SMALL PRINT BEFORE YOU CONSOLIDATE! If you consolidate, it may throw you into repayment early! And use your financial aid office as a resource for advice. Some budgets allow for car expenses, some don't. And buying a car with your financial aid is usually not a good idea. Ask questions. KNOWLEDGE IS POWER! :cool: (I work for NOWLoans, and while we only provide loans for osteopathic students, I couldn't resist butting in with advice!) Good luck to you! :)
     

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