Grad Plus Loan vs Private Loans

Nursing Students SRNA

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Any advice on which is better option? I know the obvious lower interest rate for private loan and no origination fee. But wondering if there is something else I might have missed. Also, does anybody know if the public service loan forgiveness applies only to plus loans and not private sector loans?

Hi missnurse, my program is entirely front loaded the first year. And you r right about needing a loan for living expenses n some clinical fees.

Detroitdano, my program began this past may. And I did get a summer loan as well. So far, Ive been able to work 1-2 twelve-hour shifts per week. So I've been banking that income and trying to stretch every dollar as far as it'll allow. I fear I may run in to problems next year borrowing since its gonna b based on credit score

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Everyone considering private loans:

I highly recommend a CREDIT UNION! Any other place, such as Sallie Mae or a bank, are FOR PROFIT. Credit unions are not for profit, so they are much easier to work with.

I have a private loan with a credit union - my repayment is up to 25 years if I choose, and I have an interest rate of 4%. No other fees, and they have always been extremely friendly and helpful.

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Icysagenurse, are they really tough on credit score? How about a co-signer? I've heard some ppl comment on here about having problems event with an excellent co-signer.

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Icysagenurse, are they really tough on credit score? How about a co-signer? I've heard some ppl comment on here about having problems event with an excellent co-signer.

I used an "okay" cosigner, and I myself had limited credit, and I was still approved for up to like 60K if needed.

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Ok icy, thanks for sharing that

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