Hi everyone!
I am looking for some advice. I am pursuing a master's program that will cost around 103k for 27 months. I have almost 40k saved and am wondering how I should navigate student loans.
My initial thought was to burn through my savings first, then rely solely on direct loans and grad plus loans. That way, I would avoid interest for almost an entire year. I know most people typically do a mix of both savings and loans until they run out of savings. Which option would be more efficient for accruing the least amount of interest?
For background, I am incredibly fortunate to have no undergrad loans and no rent to pay.
** Also, to get grandfathered into grad plus loans, I read that I need to take a loan out before July 1. Am I allowed to take a small loan of about $500 just to be grandfathered in? I am unsure if I need to borrow a certain amount this year to qualify.
Posted by Major_Newspaper3611