since becoming a doctor takes 4 year undergrad and 4 year med school. so if i get a student loan then will it pay for all 8 years of my college? or does it just give a little bit of money?
im a high school senior.
Student loans for future doctors!!?
The loan process for undergraduate and medical school is a little different. As an undergraduate you are depending on your parents income to qualify for student aid. You want to try and get grants and scholarships followed by loans. Grants and scholarships do not have to be paid back, but they are usually limited in the amount of money you can get. Loans will have to be paid back once you are out of school (including medical school). If you get into medical school most of the schools have loan programs that cover the entire cost of tuition, which is currently about 30,000 to 50,000 a year.
Student loans for future doctors!!?
This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started.
Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn't. If you find that you need more money then you are offered, you may want to try a private student loan.
The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestude...
Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.
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