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What do people think about taking out some or all of your expenses in private loans? If you have good credit with some years of WE, does it make sense?

Only if you are going somewhere where you are very very confident that you will get biglaw as the private loans will royally fuck you if you are making 40k wishing you could enroll in IBR.

The best compromise I've seen is doing all federal for the first year until you have a better idea of whether you will get big law or not.

2014 wrote:Only if you are going somewhere where you are very very confident that you will get biglaw as the private loans will royally fuck you if you are making 40k wishing you could enroll in IBR.

The best compromise I've seen is doing all federal for the first year until you have a better idea of whether you will get big law or not.

+1 - If you're looking to diversify between fixed rate and variable rate loans, you can take out your first year loans through the federal programs and your 2nd and/or 3rd year loans through private lenders.

I took out entirely federal loans first year (didn't hurt that they were still subsidizing a chunk of stafford last year). This year I am taking out the max in Stafford and the rest through my school's institutional loan program. It's nice to know that I won't need to use IBR, so i'm more comfortable taking the lower floating rate on this year's loans.