GradPlus origination fees. Forum

[LSHPFL10]

Can someone please educate me on this.

What will I have to pay up front in order to get the appropriate financing (through GradPlus loans) for law school?

Thanks in advance.

[LSHPFL10]

Can someone please educate me on this.

What will I have to pay up front in order to get the appropriate financing (through GradPlus loans) for law school?

Thanks in advance.

Bump. Any help would be appreciated - with seat deposits and apartment security deposits, loan origination fees make this admissions process dangerously expensive for me.

[Bert]

I am not sure I understand your question. Are you asking how do the origination fees on GradPLUS loans get paid? If so, assuming all schools are the same, the origination fee is taken off the top before any money goes to your school. So, for example, if you qualified for a 10K GradPLUS loan and the origination fee was 4%, you would borrow $10K but only $9,600.00 would be sent to your law school. The $400 origination fee would be retained by the lender as its origination fee.

Hope this is what you needed.

[cavebat2000]

Pretty sure the origination fee is just added to your principle. you don't pay out of pocket.

[lawschoolgiant]

Can someone please educate me on this.

What will I have to pay up front in order to get the appropriate financing (through GradPlus loans) for law school?

Thanks in advance.

Bump. Any help would be appreciated - with seat deposits and apartment security deposits, loan origination fees make this admissions process dangerously expensive for me.

I do not know what they are but I know they can be included in the loan and will not have to be an upfront cost.

[ryguy]

I am not sure I understand your question. Are you asking how do the origination fees on GradPLUS loans get paid? If so, assuming all schools are the same, the origination fee is taken off the top before any money goes to your school. So, for example, if you qualified for a 10K GradPLUS loan and the origination fee was 4%, you would borrow $10K but only $9,600.00 would be sent to your law school. The $400 origination fee would be retained by the lender as its origination fee.

Hope this is what you needed.

I think that they can be added to the loan, but you would still have to pay the 400.00 shortfall or subtract it from your col. I think....