How do student loans work for grad school?

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Discussion Overview

The discussion revolves around the mechanics of student loans for graduate school, particularly focusing on repayment timelines and financial support options such as teaching assistantships (TA) and research assistantships (RA). Participants explore the implications of taking out loans during undergraduate studies and how these loans interact with graduate school funding.

Discussion Character

  • Debate/contested
  • Homework-related
  • Conceptual clarification

Main Points Raised

  • One participant expresses confusion about the repayment timeline for federal subsidized loans, believing that repayment would not start until after completing graduate school.
  • Another participant suggests that it may be possible to make small payments during graduate school, depending on the financial support received from the institution.
  • A different viewpoint humorously asserts that graduate school should provide financial compensation rather than requiring students to pay for their education.
  • A participant clarifies that loans are typically deferred while enrolled in graduate school, but emphasizes the importance of confirming this with the graduate institution to avoid unexpected repayment demands.
  • Concerns are raised about the adequacy of TA or RA stipends for covering living expenses, suggesting that these may not provide enough income to start loan repayments.

Areas of Agreement / Disagreement

Participants do not reach a consensus on the best approach to managing loans during graduate school, with differing opinions on whether to start repayments or defer them. The discussion reflects uncertainty regarding the financial realities of graduate school funding and loan management.

Contextual Notes

Participants mention varying experiences with financial support and living costs, indicating that outcomes may depend on individual circumstances, such as the specific graduate program and location.

Who May Find This Useful

Students considering graduate school who are navigating student loans, financial aid options, and the implications of assistantships may find this discussion relevant.

Poop-Loops
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I got a federal subsidized loan and had to take out extra via Sallie Mae. Ummm... how does that work with grad school? I admit I was dumb enough not to ask when I was applying, but they said you have 10 years to repay, so I thought you wouldn't start repaying until you were completely out of school. I got a statement today saying that basically I have 6 months after undergrad to start repaying.

From what I know, grad school tuition should be waived + stipend because of TA/RA position and fellowships, correct? But is that enough to start making small payments, or how did you go about it? Sorry if this was posted before (especially in ZZ's blog. I read most of that, and it didn't come up I don't think...)
 
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I would guess you have enough to make small payments.

I would look into it. Call schools and find out how much you would get paid.
 
Pay for grad school? They should pay you for grad school!
 
Let me rephrase my question:

I am taking out loans for Undergrad. They expect me to start paying them back 6 months after I get my BS.

What do I do about those loans in grad school? Start paying them off, or does it still somehow get postponed until I'm totally done with school?

I know they should be paying me for grad school. ;)
 
The loans are deferred until you are no longer a student (whether it is a grad student or whatever). You might have to have the school where you attend for grad make sure they don't start expecting you to pay- but I have only found a few people who got jerked around by this.

I wouldn't start paying the loans until you must, especially if they are at a low interest rate. Typically, you don't get a lot of money from a TA position, enough to eat and pay rent and maybe go out to lunch once a week. This, of course depends on the school and the cost of living near the school. My guess is that you will not have enough to start making payments. Or maybe you live more frugally than others.

So, do not worry about that part of grad school I say. Worry about passing the qualifier!

Cheers,
Ryan
 

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