<p>This may seem like a dumb question, but when do students have to pay back student loans? What about students who go on to med school like I plan to do? Lately, I've been stressing over loans because I don't know too much about them. I'm worried that I'll have to pay them back while in college or med school. Please help me understand student loans better!!</p>
<p>You would pay them back after med school if you’re talking about federal student loans… However, the unsub loans will really grow by then. Plus, you’ll probably need to borrow about $200k+ for med school. For those reasons, you should borrow as little as possible as an undergrad.</p>
<p>how much do you plan on borrowing each year?</p>
<p>Keep in mind that most pre-meds never end up applying to med school…often due to grades. You need to have a top GPA and you need to score well on the MCAT. How well do you score on standardized tests?</p>
<p>It is excellent that you are unnerved about loans. You should be. They can ruin your life. If you want to do four years of college and four years of medical school, you really can’t do it all on loans. You need a way to pay for some of it without loans. </p>
<p>You might look into military/Coast Guard. I believe there is a way to go to a medical school through the military. You might also look at college in three years (using credits from AP classes, high SAT scores, full schedules, etc.). </p>
<p>There’s a book “How to pay for college without going broke” by Chany (Khany?) that’s good to explain the options. </p>
<p>One of the best things you could do is be a National Merit Scholar (by taking the PSAT in the high school junior year and scoring extremely well). Scholars often are offered full tuition scholarships. </p>
<p>Anyway, to answer your question, you usually start paying loans six months after you leave school on one type of loan. On other types of loans you may have to start paying within a few months of the loan starting. The details on the loan you take are important to know. Many people “defer” payment by staying in school or by filling out deferment paperwork, but that can add thousands to the total repayment costs. </p>
<p>Read the Chany book. It will help. Good luck</p>
<p>Thanks everyone!</p>
<p>@mom2collegekids Because of the whole cost thing, I’ve started to look at schools less expensive than the ones I originally wanted to go to. I don’t know yet, but after I get my financial aid package, I’ll have a good idea. And I know that last fact all too well, so I have a plan to combat that: I’m going to major in either economics or civil engineering. That way if I don’t go to med school, at least I’ll have a degree to fall back on.</p>
<p>@Olymom I’ve been thinking about joining the military, but I’m WAY out of shape lol! But that is a really good way to have my college payed for. Plus, it could give me some awesome experiences!</p>
<p>While you are in college and completing those pre-med requirements, you will have time to investigate the military option, and to get into shape if you decide to pursue it.</p>