Post-bac Alternative Loans

[kgrotic]

Hi, everyone. I'll be enrolled in a post-bac program this coming year, and while I wait to receive advice from my school's financial aid office, I'm wondering if anyone here can offer loan advice as well.

So, I'm wondering how I can get a loan that I won't have to start paying back until after I graduate med school. I'm not sure if I'll be linking anywhere, so there is the possibility that I would want to defer repayment during my glide year since I won't be enrolled in any academic program. Also, since my credit history is strong, I'm hoping to apply for a loan which will consider my credit history and hopefully give me a better interest rate than the usual fixed rates of ~8%.

As you can tell, I don't really know what I'm talking about at all, so any advice would be much appreciated. Thank you.

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[Isoprop]

first of all, 8% is a pretty good interest rate. private lenders that consider your good credit history will probably ask for higher from my personal experience. if you hold a bachelor's, you may not qualify for government financial aid if you are a non-degree seeking student.

most student loans allow non-academic deferral or forbearance if you qualify (eg economical hardship). if you don't qualify, youre SOL and you should suck it up and pay. once in med school, you can definitely re-defer.

 

[HurricaneSeal]

you can always do Americorps or something for your year off, which defers it