Subject says it all, really. I took out a residency relocation loan to cover moving expenses and buffer things until residency paychecks started coming in, but I'm at the point where I would like to take out a substantial personal loan to knock out higher-interest debt (not federal student loans), preferably one with deferral/forbearance options until later in residency.
I'm a PGY1 of 3 and will not be able to moonlight until summer/fall of 2015.
Anyone have any suggestions on "good" lenders from which to get such a thing?
I'm not sure I understand your situation. As near as I can tell you have:
1) Student loans at 6.8%/7.9%
2) A residency relocation loan
3) Some "higher interest rate" loan, such as credit cards, that you'd like to consolidate at a lower rate and somehow get the payments deferred until you're out of residency.
I'm not sure you're going to find a loan like that. I think you'd have to mention what your rates and amounts are to get the best advice. But it sounds like a little Dave Ramseyeque-get-out-of-debt advice is probably in order, so here goes:
You can't borrow your way out of debt. Why not use your current income to pay back the higher interest debt?
You might be able to consolidate the loans, and maybe even at a lower rate (perhaps Lending Club or Prosper if your credit is good), but deferred? I doubt it. You might be able to do the 0% transfer thing for a couple of years. That would work out to ~ 4% a year, assuming people would continue to lend to you.
