What year is best paid out of pocket?

[dentalwannabe]

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I want to get the best bang for my buck, so what year is it best to pay some of the fees of dental school out of pocket?

For example, does 10k out of pocket go further for yr 1 or yr 4.

I am massively confused regarding interest, compounding, terms, deferment....🙁

 

[Duriel]

Wouldn't the first year be the best, since your paying interest on that money longer?

 

[mr24]

1st year for reason listed above.

 

[dentalwannabe]

But interest on the 1st year doesn't compound for year 2,3,4 of school. That leaves 11 years of compounding (assuming that the years you are in school count towards your 15 or 30 yr lending length.) Year 4 compounds interest for 14 years.

This is why I thought it might be year 4?

Ideas anyone?

 

[chill45]

But interest on the 1st year doesn't compound for year 2,3,4 of school. That leaves 11 years of compounding (assuming that the years you are in school count towards your 15 or 30 yr lending length.) Year 4 compounds interest for 14 years.

This is why I thought it might be year 4?

Ideas anyone?

I don't think they count towards your 15 or 30 yr length, do they not consolidate federal loans after each one you take out? Plus how would they count towards your 15 or 30 yr length if you (generally) aren't paying them while you are in school and anything you are paying during school is just on the interest. It would still be best to pay that 10k you mentioned during year one since that money will be accruing interest the longest.

 

[dentalwannabe]

mmkay, thank you!

 

[doc toothache]

http://forums.studentdoctor.net/showthread.php?t=941500
http://forums.studentdoctor.net/showthread.php?t=942453