Stafford Lender

[okayplayer]

I'm going to start med school in the fall, and I have a question that I hope some current students can help me with.

I understand that I will want to take out the max loan of $38,500 in Stafford loans, but I am uncertain as to whether I want to do this from my school, which will act as a lender with no origination fee, or from a different private lender like Medloans. Medloans seems to offer some kind of bonuses, along with what seems to be no origination fee on Stafford loans (here's their site: http://www.salliemae.com/manage/medrewards.html). Is this a better deal than no bonuses, no Origination fee?

Also, for private loans (ie., not Stafford), what are some recommendations? I've heard THE (http://www.northstar.org) and again Medloans. Any opinions?

I know next to nothing about this stuff, so please help me!

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[silas2642]

I'm going to start med school in the fall, and I have a question that I hope some current students can help me with.

I understand that I will want to take out the max loan of $38,500 in Stafford loans, but I am uncertain as to whether I want to do this from my school, which will act as a lender with no origination fee, or from a different private lender like Medloans. Medloans seems to offer some kind of bonuses, along with what seems to be no origination fee on Stafford loans (here's their site: http://www.salliemae.com/manage/medrewards.html). Is this a better deal than no bonuses, no Origination fee?

Also, for private loans (ie., not Stafford), what are some recommendations? I've heard THE (http://www.northstar.org) and again Medloans. Any opinions?

I know next to nothing about this stuff, so please help me!

I'm pretty clueless about this too. Max stafford loans are 38,500 PER YEAR, right? Cause if not, I might be in trouble.

 

[AStudent]

Yes, per year.


Borrow as much as you can through your school. Then borrow the rest through MEDFunds, they don't charge any fees either (through Sallie Mae).

Graduate Stafford Loan Program
ZERO-FEE STAFFORD LOANS FOR ALL GRADUATE LEVEL MEDFUNDS BORROWERS!
Lender Code: 834040

Same Stafford – More Money
The Medfunds Stafford Loan Program is just like every other Stafford Loan. With one big exception: Medfunds provides students with more of the money they borrow.

Medfunds offer a ZERO origination fee for all graduate level Students! Furthermore most guarantors waive the 1% guarantee fee resulting in a ZERO fee Stafford Loan!

We don’t stop there! In addition we will lower the principal amount borrowed by 3.3% for paying the first 33 monthly payments on time.