Repaying your MS debt

[dannylee718]

So...

1. When does Stafford Interest begin to accrue? After Med school or Residency?
2. What is your current plan on the repayment schedule (i.e. 10yr, 15yr, 30yr)?

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[p9142]

So...

1. When does Stafford Interest begin to accrue? After Med school or Residency?:

For all unsubsidized Stafford and GradPlus Loans, which make up the vast majority of your Med School loans, the interest accrues immediately when you get the money. For subsidized Loans ($8500/year) The interest does not accrue until you go into repayment. You can usually get a three year deferrment after you graduate, so your subsidized loans won't start accrueing interest until your fourth year of residency.

2. What is your current plan on the repayment schedule (i.e. 10yr, 15yr, 30yr)?

If I go OOS, I plan on living like a resident for three or four additional years and paying them off in that time. If I go to my state school I can pay them off in two years fairly easily.

 

[Polypeptide]

Check out the Finance board. Lots of good info and personal experiences there.