Credit Card Center Advertiser Disclosure

New Visitor
Posts: 1
Registered: ‎12-20-2012
0 Kudos

Private student loan for medical school

I'm a non-citizen accepted to a US medical school. I have a US cosigner with good credit.

I was looking for advice regarding private student loans. I have been researching extensively and so far I'm looking at Sallie Mae, wells Fargo, and discover. All offer similar features like no origination fee etc... what other factors should i be considering?

Additionally these places offer choice between variable interest rate and fixed rate. What is the better option? I am expecting about 250-300k in loans by the time I graduate and would start making payments after residency ( approx 3 years after grad).

I really appreciate any advice you can give me.
Valued Contributor
Posts: 1,653
Registered: ‎06-09-2008
0 Kudos

Re: Private student loan for medical school

You'll want to choose loans that have the ability to delay payments for your residency (so those targetted at med students), and you'll probably want to pick the company that has the most options for hardship deferments in case you need them.


Personally, I would choose a fixed interest rate.  Rates are very low now and basically can only go up in the future.  In your situation, you are going to have this debt for many years, so the fixed rate is probably the better bet.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.