thoughts on dental plans?
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Messages - john jacob
Naw, I've met plenty of new grads to confirm the conventional wisdom.
hope you're right. If you've seen the movie Rules of Attraction, I read JDUnderground the way that the girl looks at her venereal disease book before going out.
You can borrow the max in stafford (20500, 8500 is subsidized) because grad students are considered independent.
You can borrow Gradplus to cover the rest of the school's estimated COA.
If your staffords don't cover the entirety of the tuition...
Do firms really care about what tier your school is in even when it's the difference between say a school ranked 46 and one ranked 57?
nope. everything below GW/BU/Fordham is a wash imo.
bump, I'm considering this as well.
I'm maxing out stafford, both subsidized and unsubsidized to the tune of 20500 a year (8500 is subsidized).
The question is whether to take out 20k over 3 years for the rest in GradPlus loans or to just pay it.
Over 10 years, I pay 20000 in interest on the 60k stafford loans.
Over 10 years, I pay 10000 in interest on 20k gradplus loans.
If I got a federal job paying say, 40k a year, I'd pay the difference between 150% federal poverty (15k) and income minus taxes. Let's make that figure 20k.
3k a year.
10 years, 30k paid, rest is written off, which would be 90k.
Sounds good, assuming I get a gov't job. If I got a firm job, I wouldn't care about the debt.
thoughts on my math?
So I'm shopping for GradPlus loans. After maxing out the staffords at $20500, I have about 5-8k to cover. I'm considering gradplus for the federal LRAP from the college cost reduction act, however, the gradplus loans are also much more expensive than the staffords with the 3% origination fee and the 8.5% interest rate.
This effectively makes the interest rate about 10% for the Gradplus, unless I find a lender with good terms.
Should I get the gradplus? If I make it to a big firm, I probably won't care about any extra interest that I take on, if I end up in low-paying gov't or non-profit work, the possibility of having a big chunk of the extra gradplus loans forgiven is a big plus. However, it is effectively a 10% interest rate.
These are my conclusions based on the info I've gathered on this site:
No on #2. At best it's something trivial like 5%.