Question about dental school loans

[Nasem]

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I tired to do a few searches here and there, but didn't exactly find any answers to this exact question:

Right now i am doing a post-bacc program at MSU to complete my pre-dental requirements, by time I finish all this and start applying to dental schools, Im probebly going to be in debt close to $50,000 (including my previous undergrad years).

When you get to dental schools, are you limited to how much you can borrow based on how much you have used for your undergrad / masters / post-bacc ? or professional students are allowed a completely different types of loans...Im kind of confused here

 

[1992Corolla]

no.

 

[jmjfb23]

Actually yes and no, there are lifetime limits, but only on your stafford loans, I think its like 187,000 or something like that. There are no limits on your overall school loans so you shouldn't have a problem getting them. If you did reach your limit for the stafford then it just means you have to take a bigger portion of your loan from private lenders or grad plus loans. (FYI - Stafford loans are the ones that come with a lower interest rate and on portions of them interest doesn't accumulate while you are in school)

 

[jmjfb23]

In addition to my last post, your school will also have a overall cost of tuition plus living expenses that they supply and you can't take out over this amount (for my school its like 61,000 a year). The one exception to this would be showing that you previously earned more than this amount before dental school and then you could take out more, but I'm really not sure how this works.

 

[mmasurf]

i thought stafford was going to have some really low interst rate, its some 6.8 % wtf, maybe its still better cause it doesn't start the interest buildup unlike the plus and other private loans. What really sucks is if America stops wasting money on iraq and instead spending that 100 billion on giving student lower interst loans or grants iam sure there will be many happy people walking around 😉 😀

 

[KOM]

What really sucks is if America stops wasting money on iraq and instead spending that 100 billion on giving student lower interst loans or grants iam sure there will be many happy people walking around 😉 😀

Total costs so far are closer to 300 billion I think. With a US population of about 300 million, that would mean about 1000 bucks for everyone. Democrats wimped out as to be expected.

Anybody looking forward to Michael Moore's new movie Sicko?

 

[billermo]

The maximum Stafford amount is $189,125. This includes any undergrad or grad programs. I am being told by my Student Aid Officer that the true aggregrate Stafford during dental school is $160,000. This is due to a $80,000 limit in the "additional unsubsidized Stafford" portion. That's why my 4th year amount is only $24,499. I'm fighting with my financial aid officer now because I don't think this is right. Can anyone confirm?

Year 1
Sub Stafford: $8,500
Unsub Stafford: $10,000
Add. Unsub Stafford: $26,667

Year 2
Sub Stafford: $8,500
Unsub Stafford: $12,000
Add. Unsub Stafford: $24,667

Year 3
Sub Stafford: $8,500
Unsub Stafford: $12,000
Add. Unsub Stafford: $24,667

Year 4
Sub Stafford: $8,500
Unsub Stafford: $12,000
Add. Unsub Stafford: $3,999

Total: $160,000

I have not used any Stafford except for my 1st year of dental school. I feel I should be able to take the annual limit of $45,167 all 4 years.