student loan question

Discussion in 'Financial Aid' started by Ibn Alnafis MD, Dec 29, 2008.

  1. Ibn Alnafis MD

    7+ Year Member

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    I am going through some financial difficulties, and I am considering taking an undergrad student loan.

    My question is:

    If I go ahead and get a loan right now, will I still be eligable to obtain federal loans later when I apply to med school? will my repayments for the undergrad loan deffer until I finish med school?
     
  2. TMP-SMX

    TMP-SMX Senior Member
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    You will be fine. Stafford federal loans will defer until you are finished with school out of deferment. Private loans are a different matter and it depends on your terms. Either way, any unsubsidized loan will be gaining interest (without capitalization) during school even in deferment. This means that interest is accruing but is not being added to the balance you are borrowing (not compounding). Subsidized Stafford loans do not gain interest during school.
     

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