 Private Loans similar to Stafford Subsidized Loan..., Any exists? |
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 Jun 20 2009, 05:31 PM
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#1
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Group: Newbies
Posts: 3 Joined: 20-June 09 Member No.: 96,006  |
Hello everyone,
I am a bit new to the whole school loan thing, so bear with me. From what I understand, the Stafford Subsidized Federal Loan does not start collecting interest from the borrower until after 4 years of graduate school is complete. Are there any private loans for medical school that offer this as well? I've looked at Chase, Citibank, Sallie Mae and several others, and all seem to be very similar to the Stafford Unsubsidized, which supposedly has interest start adding up before the 4 years is up. I hope this question isn't too confusing-if anyone knows of any, please let me know! Thanks! 
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| Googie |
Jun 20 2009, 05:31 PM
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The MoneyMaker
Group: Accounting
Posts: One in Every Topic Joined: 1-February 03 From: Mountain Home, CA Member No.: 1 |
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Jun 20 2009, 06:25 PM
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#2
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Group: Members
Posts: 699 Joined: 25-April 05 From: Georgia Member No.: 16,300 |
No, there are no private loans that offer that.
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Jun 21 2009, 02:39 PM
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#3
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Group: Members
Posts: 4,206 Joined: 31-December 04 From: Naples, Florida Member No.: 11,332 |
QUOTE (medloans1 @ Jun 20 2009, 05:31 PM)  Hello everyone, I am a bit new to the whole school loan thing, so bear with me. From what I understand, the Stafford Subsidized Federal Loan does not start collecting interest from the borrower until after 4 years of graduate school is complete. Are there any private loans for medical school that offer this as well? I've looked at Chase, Citibank, Sallie Mae and several others, and all seem to be very similar to the Stafford Unsubsidized, which supposedly has interest start adding up before the 4 years is up. I hope this question isn't too confusing-if anyone knows of any, please let me know! Thanks! Sub stafford loans start accruing interest 6 months after you cease being a qualified student. All other start accruing interest from the day you borrow them. Lynn
Ex-Student Loan Collector FFLEP & USDE Ex Financial Aid Officer Minnesotan escaped to Florida! |
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Jun 21 2009, 08:57 PM
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#4
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Group: Members
Posts: 62 Joined: 24-July 05 Member No.: 20,097 |
School financial aid will combine the two FFEL loans in an equal mix of Stafford & NonStafford in each note. You could refuse the nonstafford to lower the long term cost if you can get by without it; usually total need calculation is derived from an equal mix of each.
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Jun 21 2009, 09:00 PM
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#5
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Group: Members
Posts: 4,206 Joined: 31-December 04 From: Naples, Florida Member No.: 11,332 |
QUOTE (wideeye @ Jun 21 2009, 08:57 PM) School financial aid will combine the two FFEL loans in an equal mix of Stafford & NonStafford in each note. You could refuse the nonstafford to lower the long term cost if you can get by without it; usually total need calculation is derived from an equal mix of each. The loans are stafford loans...but they are sub and unsubsidized. You can turn down the unsub loan.l Lynn
Ex-Student Loan Collector FFLEP & USDE Ex Financial Aid Officer Minnesotan escaped to Florida! |
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Jun 22 2009, 11:44 AM
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#6
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Group: Newbies
Posts: 3 Joined: 20-June 09 Member No.: 96,006 |
Thank you for the replies!
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