There should be more options. For most of the residents who graduated in the last few years, you should have consolidated, given that the interest rates have been SO low. I consolidated into a 30 year plan- ridiculous, in some ways, maybe, but with a rate of 3.5%, it is lower than inflation, and I thought it would not be the smartest move to not take advantage of this. In time, my loan payments will seem like NOTHING. Already, on an attending salary, $700 is nothing. Meanwhile, I am using my money to finance my drug habits... j/k.
I think you'll find that most single residents defer, since it's too difficult to make payments on such a small salary with such a large loan. Also, with the low interest rate we've been able to lock in if you've consolidated in the last few years, it makes more sense to invest what little money you can spare, or pay off your higher-interest mortgage, etc.
For those of us who are married (esp if the spouse has no debt), deferrment may not be an option because together we make "too much money." Right now I'm paying off the interest on my loan. I let my husband pretty much handle our finances... being married to a CPA has its advantages.
Does anyone has a private loan from access group? It says on their website that repayments start 5 years after disbursement. Which means that after 1st year of residence, you would have to start paying back. How can anyone afford that? My question is, is this really the case with Access Group or am I not understanding the terms here?