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Stafford and Sallie Mae question
I know that there have been many posts regarding financial aid but I am still confused on the following issues:
#1. Is there any chance that I could qualify for a subsidized Stafford loan if I made over $100K in 2003?
#2. As I understand you must rotate between Stafford and Salllie Mae:
Semester 1: Stafford $18,500
Semester 2: Sallie Mae $20,000
Semester 3: Stafford $18,500
Semester 4: Sallie Mae $20,000
Semester 5: Sallie Mae $18,500
#3. What happens between semester 5 and semester 6 when you are home studying for USMLE Part I?
#4. Will you still get $18,500 from Stafford in Semester 5 or only half of that and the other half as soon as you start Semester 6?
#5. Can you still take $20,000 from Sallie Mae during those 4 months when you are out of school studying on your own?
#6. Over how many years do most med students elect to repay their loans? 10 or 20 yrs? is 30 yrs even possible? Starting at begining or end of residency program?
#7. Do you have the same repayment options for both Stafford and Sallie?
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