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Gcuvier

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Greetings,

I'm not sure if anyone else is on the same boat as me but I definitely feel alone on this one. Unfortunately, due to not qualifying for anything but loans, I will be graduating with about 100k (interest included) in student debt from undergrad. Yes, most of that consists of private loans (Sallie Mae). I do plan on attending med school, and realizing that I'll be adding this much debt onto another $200,000+ is VERY frightening. Is anyone else in this situation? My greatest concern comes from most of my undergrad debt being private. Does anyone on here have any experience with private loans specifically from Sallie Mae? Please help :(

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time to read up on what kind of loan(s) you have and what kind of in-school deferrals there are.

don't postpone reading up on what kind of defer/forbear options you have during residency. it's 100% on you to figure out what you're supposed to do with your probable $250k+ federal loans as well as your private loan burden.

managing private loans during med school is a part time job - it's 100% on you to keep the loan in good standing by staying on top of deadlines and forms and approvals. same goes for during residency. fun fact: you have less time in residency than in med school. fun fact: screw this up and you'll be unable to get a mortgage for some years after residency.

here's a place to start: Student Loan Deferment
 
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In a very similar situation also through Sallie Mae. While in-school deferment of the loans is fine, educate yourself on your interest rates and what this ~100K loan evolves into after medical school and/or residency. My rates are absurd (of course I signed on the dotted line as a naive 18-20 year old who thinks I will just pay those off when I make more money) which is pushing me towards consolidation and refinancing through a 3rd party lender. Obviously care needs to be taken to ensure these new consolidated loans have in-school deferment as well.... food for thought. Any recommendations my way would be well received
 
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