Which Loan?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
hotdoglaw
Posts: 103
Joined: Tue Jan 26, 2010 10:48 am

Which Loan?

Postby hotdoglaw » Fri Apr 09, 2010 9:47 am

Hi all,

I'm trying to discern which loan is better: the Grad Plus or Unsubsidized stafford. What factors should determine this decision? Is one a patently better deal than the other? Higher interest with deferral vs. lower interest without deferral. Thanks.

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ggocat
Posts: 1663
Joined: Sat Dec 13, 2008 1:51 pm

Re: Which Loan?

Postby ggocat » Fri Apr 09, 2010 10:51 am

hotdoglaw wrote:Hi all,

I'm trying to discern which loan is better: the Grad Plus or Unsubsidized stafford. What factors should determine this decision? Is one a patently better deal than the other? Higher interest with deferral vs. lower interest without deferral. Thanks.

I never had to take out a Grad Plus loan, but my understanding is that you can't get one unless you first max out your unsubsidized stafford:
"Graduate and professional students who borrow the Grad PLUS loan must submit the Free Application for Federal Student Aid (FAFSA) and max out the Stafford Loan first." http://www.finaid.org/loans/gradplus.phtml




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