Unsubsidized Stafford vs GRAD PLUS? Forum
- scaredstiff165
- Posts: 75
- Joined: Wed Sep 10, 2008 2:08 pm
Unsubsidized Stafford vs GRAD PLUS?
Which one is better to take out? If I have a choice, which one should I use?
- misteranthro
- Posts: 74
- Joined: Tue Mar 24, 2009 12:43 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
Unsubsidized Stafford for sure.
Gradplus = 7.5% w/ possibly a .5% knock-off for auto-withdrawal.
Unsubsidized Stafford = 6.5% today, but the schedule for the next several years shows that the rates will significantly drop each year.
Gradplus = 7.5% w/ possibly a .5% knock-off for auto-withdrawal.
Unsubsidized Stafford = 6.5% today, but the schedule for the next several years shows that the rates will significantly drop each year.
-
- Posts: 87
- Joined: Mon Feb 23, 2009 5:04 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
Unsubsidized Stafford has a lower interest rate than GRAD PLUS. So go with Stafford first.
-
- Posts: 14
- Joined: Mon Oct 27, 2008 5:12 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
Are you given the choice. I thought that you can only get gradplus after you exhaust stafford limits for the year.
- pany1985
- Posts: 386
- Joined: Wed Jan 28, 2009 9:08 am
Re: Unsubsidized Stafford vs GRAD PLUS?
I'm pretty sure that for graduate students the interest rate is 6.8% and will not changemisteranthro wrote:Unsubsidized Stafford for sure.
Gradplus = 7.5% w/ possibly a .5% knock-off for auto-withdrawal.
Unsubsidized Stafford = 6.5% today, but the schedule for the next several years shows that the rates will significantly drop each year.
Still definitely a better choice than GradPlus though
Want to continue reading?
Register now to search topics and post comments!
Absolutely FREE!
Already a member? Login
-
- Posts: 98
- Joined: Tue Jan 27, 2009 3:08 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
You are given the choice, but generally folks use GradPlus to pick up the slack after the initial $20,500 of Stafford Loans due to their lower interest rate.
-
- Posts: 98
- Joined: Tue Jan 27, 2009 3:08 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
When does repayment begin for GradPlus? Is there a 6 month grace period after graduation like Stafford Loans?
-
- Posts: 29
- Joined: Sun Feb 03, 2008 11:34 am
Re: Unsubsidized Stafford vs GRAD PLUS?
Uhh, I was under the impression that 8.5% is the fixed rate for Grad Plus for most lenders, with a few exceptions that have rates at 8.25%. .50 auto withdrawal is for only a few lenders, most are .25%.
- misteranthro
- Posts: 74
- Joined: Tue Mar 24, 2009 12:43 pm
Re: Unsubsidized Stafford vs GRAD PLUS?
I stand corrected. It was 8.5% instead of 7.5% and the Stafford rate reductions I was talking about only apply to undergraduate students. It is fixed at 6.8% for both subsidized and unsubsidized. This actually sucks. I was counting on at least seeing my subsidized interest rates go down.pany1985 wrote:I'm pretty sure that for graduate students the interest rate is 6.8% and will not changemisteranthro wrote:Unsubsidized Stafford for sure.
Gradplus = 7.5% w/ possibly a .5% knock-off for auto-withdrawal.
Unsubsidized Stafford = 6.5% today, but the schedule for the next several years shows that the rates will significantly drop each year.
Still definitely a better choice than GradPlus though