School loan vs. unsubsidized loan?

[aquaboy]

I have a quick question about a school loan vs. an unsubsidized loan. I am going into my second year of med school and was offered a $10K school loan. It's a great loan while in school since it's 0% interest. However, after graduation and a 6 month deferment it goes to 5% fixed and there is no option for consolidation. I can however take out $10K more in unsubsidized loans which are at 2.77% but they accrue interest while I'm in school.

I think taking out the additional in unsub loans would be better since I can consolidate those at about 3% after this year. Any more advice on this subject? Thanks.

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[mpp]

The Stafford loan with consolidation would be the right thing to do. Just be sure that you are eligible for consolidation. Most students are not eligible while they are in school...only after they graduate (at which time the rate could easily be above 5%). You need to have some Direct Loans to consolidate.

 

[ItsNotATumor]

Stafford would be good, try to pay the acruing interest while in medical school.

 

[SonGoku]

I was offerred an 18k school loan, which doesn't accrue the 9% interest until the start of repayment. I'm not given the option of consolidating either, but I can defer while in residency. After seeing aquaboy's 5%, my 9% seems pretty high. Should I also just get Stafford funds?