Find all School-related info fast with the new School-Specific MBA Forum

It is currently 18 Sep 2014, 00:01

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Grad Plus Loans vs Private Loans

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 02 Oct 2010
Posts: 8
Followers: 0

Kudos [?]: 0 [0], given: 0

Grad Plus Loans vs Private Loans [#permalink] New post 01 Jun 2011, 19:01
I am trying debating whether to take out grad plus loans or private loans after exhausting the stafford loans.

Grad Plus
From Fed. Govt (more lenient in deference, can consolidate w/ other fed loans after graduating)
Fixed Rate at 7.9% Repayment terms up to 25 yrs
2.5% origination fee

Private Loans
Variable Rate (avg 7% currently)
Repayment up to 20 yrs
No Origination Fee
2% reward (of principle) at graduation
.25% auto debit payment reduction during payment period

Thoughts?
Thoughts?
Manager
Manager
avatar
Joined: 23 Sep 2010
Posts: 234
Location: United States (MN)
Concentration: Entrepreneurship, Marketing
Schools: Harvard Business School - Class of 2013
GMAT 1: 750 Q48 V45
GPA: 3.67
WE: Supply Chain Management (Consumer Products)
Followers: 15

Kudos [?]: 44 [0], given: 14

GMAT Tests User
Re: Grad Plus Loans vs Private Loans [#permalink] New post 01 Jun 2011, 20:04
Yeah, I've been going back and forth on this myself recently. The smart thing seems to be to split the difference and take out both Grad Plus as well as private loans and prioritize repayment based on the interest rate. Still even among private loans, there are a ridiculous number of options which make my head spin. Sallie Mae, Citi, and my schools credit union are currently the top three private loans I'm considering (along with Grad Plus) but I need to do more research since my school provided a list of like 15 different private loan sources.
_________________

FindIt - http://www.getfindit.com

My blog - http://www.shoescount.com

Senior Manager
Senior Manager
User avatar
Joined: 29 Jun 2010
Posts: 251
Schools: LBS, Oxford
Followers: 9

Kudos [?]: 25 [0], given: 12

GMAT Tests User
Re: Grad Plus Loans vs Private Loans [#permalink] New post 01 Jun 2011, 22:01
US is so cool...

back in India....getting education loan for foreign education is nightmare...+ apprently there is a cap of 45-50K USD types
Re: Grad Plus Loans vs Private Loans   [#permalink] 01 Jun 2011, 22:01
    Similar topics Author Replies Last post
Similar
Topics:
2.25%(var) private loan VS Unsub Stafford Loan (6.8% Fixed)? mandyee 11 14 Apr 2012, 07:46
4 Good Credit in US. Private Loans vs. Stafford / PLUS? bwizzle 3 22 Apr 2010, 13:48
Getting a private loan gmatbschool 1 28 Mar 2010, 19:40
Graduate PLUS vs private loans goBears 2 13 May 2008, 18:23
Alternative Loans EconGirl 0 20 May 2007, 06:53
Display posts from previous: Sort by

Grad Plus Loans vs Private Loans

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.