which repayment plan is best

[mano82]

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I'm taking citiassist health profesional laon for advance placement dds.They offer maximum 25 years to repay your loans, so my question is which repayment plan best for me as all i'm taking are private loans.I did some calculation abt these and if i select 20 yrs programm then monthly payment would be arround 1700$ and for 25 yrs program it will be 1900$.

I'm confused now that which plan will work for me in long run as i'm doubtful that will i be able to pay that much monthly payment after newly graduating from the dental school.
though i understand tht long term repayment plan will cost me more.

thanks for your anticipated advise,

 

[mano82]

Hey folks,
I asked one simple question...yours help greatly appreciated.

 

[se2131]

I'm not sure I understand how the longer repayment plan has a higher monthly payment. Shouldn't it be the other way around?

 

[TMP-SMX]

I'm not sure I understand how the longer repayment plan has a higher monthly payment. Shouldn't it be the other way around?

I agree. Seems a little odd. If you have a higher monthly payment for a longer payment period you either calculated something wrong or it has one really high interest rate.

 

[mano82]

Sorry,You are right.I wrote the opposite of that.

So what do you think 1700 for 25years and 1900 for 20 years repayments plan?Can i prepay if i could afford later in time during practice?would it be violation of terms when for example i pay loan in 10 years instead of the repayment term of 20 years?Thanks

 

[TMP-SMX]

Sorry,You are right.I wrote the opposite of that.

So what do you think 1700 for 25years and 1900 for 20 years repayments plan?Can i prepay if i could afford later in time during practice?would it be violation of terms when for example i pay loan in 10 years instead of the repayment term of 20 years?Thanks

You can pay it off as fast as you can afford.