Please advise what loan is best in my situation. Thank you.

[dushash]

I'm a Canadian, but my mom is a US citizen and she will co-sign for a med-school loan. I'm trying to find out what should I look for or be aware of when shopping for a loan? So many terms and options, but I think I'm limited to only private loans to begin with right? Should I look for IBR and payment deferrals until after residency? Any common mistakes to avoid and/or any tips?
Thank you.

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[deleted480308]

I was unaware that you could do the IBR type plans with private loans

 

[DrMidlife]

IBR is a US federal repayment program. Private loans are not eligible for US federal repayment programs such as IBR, PAYE, REPAYE, PSLF, etc .

My suggestion is to use the studentloans.gov overview of loan repayment, deferral and forbearance as a template, to educate yourself, and then compare the terms of private lenders to the federal programs. Effectively you need to find a private lender that has wrapped its corporate brain around the idea of sitting on $250k to $500k of an outstanding loan while you're in med school & residency. Vs. a private loan that expects to serve as a bridge for an undergrad who needs $20k.