My son will be using direct unsubsidized loans for the next four years of medical school ($40,500 for year one). I will also be funding a substantial portion of his living expenses. I am considering the possibility of paying off some of the loan interest while he is in school to ease the burden when he graduates. Is this a prudent approach to managing this type of debt?
May 3, 2014
Sorry for the late reply on this one.
Your plan sounds like a good one. Medical school is obviously very expensive, so sticking to federal loans is smart. Minimizing the debt any way you can is a prudent approach.
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