unsubsizided loans

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I'm going to start pharmacy school at Pacific in the Fall. I'm just wondering how the private or unsubisidized loans are paid. Since you have to start paying for them right when they money is disbursed, would it come out of ur paycheck? AND what if you aren't working?

thanks

 

[njac]

I've got all private, unsubsidized loans and I don't have to pay anything off until after graduation. although when I get the statements telling me how much interest I've accrued it makes me throw up a little in my mouth...

 

[pinkyrx]

With unsubsidized loans you don't have to pay anything while you are in school. The interest does build up, so if you have extra cash you could pay that off a little at a time to keep it from being rolled over into your principle when you graduate. (at least i think thats how it works. )

 

[NguoiVN]

Would you pharmd candidates think it's a good idea now to loan as much as you can so that by the time you get your job with a company that offers tuition reimbursement, you can take advantage of that? Is any of you thinking like I'm? (Not all companies offer full tuition, but it's still better than nothing).

 

[dgroulx]

Would you pharmd candidates think it's a good idea now to loan as much as you can so that by the time you get your job with a company that offers tuition reimbursement, you can take advantage of that? Is any of you thinking like I'm? (Not all companies offer full tuition, but it's still better than nothing).

I take about 19k a year in unsubsidized loans. When I add these to my undergraduate loans, I'll be in debt over 100k when I graduate. I consolidated them last year to a fixed 2.75 rate. You need to live on something while in school. I can't beat that rate using credit cards.

I'm not worried about tuition reimbursement, but if a job has that as a benefit I'll factor it in. Otherwise, I'll just pay off my loans. I've already budgeted for it.

 

[konkan]

I'm going to start pharmacy school at Pacific in the Fall. I'm just wondering how the private or unsubisidized loans are paid. Since you have to start paying for them right when they money is disbursed, would it come out of ur paycheck? AND what if you aren't working?

thanks

I heard that tuition at Pacific is around 40 grands a year 😱 Is that true?

 

[dragonet]

the tuition and fees total to $41,002 annually according to the Pacific website.

 

[konkan]

the tuition and fees total to $41,002 annually according to the Pacific website.

Where does all the money go? Do they have golden sinks and Iranian rugs in their lab?

 

[hiprayer]

Tuition is around $30,000.....

 

[kiko]

I used to work in financial aid.

Usually, unsubsidized Stafford loans are preferable to private loans. The interest rate on the unsubsidized Stafford is now a fixed interest rate of 6.8%. (This is the first year with fixed interest rates; in the past, it has been a variable interest rate.) The interest rate on private loans is variable and tends to be considerably higher, especially if you have credit problems. The Stafford loan is an entitlement so as long as you have not borrowed your lifetime limit or defaulted on a previous loan, you will qualify.

Both types of loans often have origination fees, with the Stafford loans, it's generally around 3%. With private loans, these fees can be much higher. There are no fee private loans out there, but they tend to have higher interest rates.

If you can, it's better to pay the interest when you are in college. If you can't, it will be added onto your principal when you enter repayment.

I hope that's helpful.

 

[keval010]

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[freshbeatschris]

Both types of loans often have origination fees, with the Stafford loans, it's generally around 3%. With private loans, these fees can be much higher. There are no fee private loans out there, but they tend to have higher interest rates.

If you can, it's better to pay the interest when you are in college. If you can't, it will be added onto your principal when you enter repayment.

I hope that's helpful.

I guess I'm really lucky, as Midwestern CCP has no origination fee for subsidized or unsubsidized. That saves us a couple thousand bucks. Not bad.

Chris

 

[monster76]

Check out T.H.E. at northstar.org. They don't have origination fees, are a nonprofit organization and give bonuses when you enter repayment. I looked at both Midwestern (Sallie Mae) and T.H.E. and believe T.H.E. is better I.M.O. It doesn't matter to the university which lender you choose (you can even still switch lenders).