I am going to medical school and need to pay an extra 30000 in addition to the federal loans I have received. It will go for both tuition and other costs like books. Anyways I don’t really know where is best to get the loan. I went through looking on Sallie Mae and saw that I could get a loan, but the financial charge would be like 100000 and the total be like 140,000 after the 240 months. Is this really what people do, four times to cover each year? Or is there something else I can do? I’m feeling really overwhelmed and confused so I would appreciate any advice.
Posted by DueBill2669
4 Comments
Have you considered having old family money?
I’m sorry, this sucks.
Not a doctor but I’m in the medical field – yes, most of my peers went this route to cover what FAFSA wouldn’t.
I’d look into HPSP or Health Corps if I were you. HPSP will pay off a large amount of your federal loans if you work in a shortage area for 2-3 years. Health Corps (military) will pay your tuition and give you a living stipend while in school.
Sallie Mae has a terrible reputation. Shop around for the lowest fixed interest rate.
I thought they made an exception to certain healthcare provider programs like medicine…