Good news on medical student loans and deferment
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The student loan deferment program is intact for now. News can be found on the AMA website here. Basically what this means is that at least for now and until the fall (an unspecified month) of 2008, we will be able to take advantage of the economic hardship deferment. The subsidized student loans will not accrue interest. This is great because over the 4 years…we borrowed in subsidized interest 8.5K x 4 = 34,000 dollars. At an average of 4% (for me) that is 1,360 dollars. For those that borrowed at 6.8%, this is a savings of 2,312 dollars per year.
The other good news is that this may be something that may be remedied again in the future. The US department of education will revisit the issue again next year but for now folks we are safe!
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[…] Check This Out! While looking through the blogosphere we stumbled on an interesting post today. Here’s a quick excerpt: The student loan deferment program is intact for now. News can be found on the AMA website here. Basically what this means is that at least for now and until the fall (an unspecified month) of… [[ This is a content summary only. … […]
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Comment by Jerry
Will residents with additional contracts which lead to extra money (such as through the military Financial Assistance Program for medical residents) be eligible for hardship deferments, or does the additional pay exempt them? Also, do they count the benefits (malpractice insurance coverage, etc.) as income, or is it just straight pay? Excellent news, thanks for the information…
Jerry
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Pingback by Student Loan Deferment Program Remains Intact « Medliorate
[…] Good news on medical student loans and deferment [Finance Physician] […]
Pingback by breast cancer talk » Blog Archive » Good news on medical student loans and deferment
[…] Democracy for Vancouver | Politics of the People had a pretty good blog post. Definitely worth your time. Here is a small excerpt:…fall (an unspecified month) of 2008, we will be able to take advantage of the economic hardship deferment. The subsidized student loans will… […]
Comment by Wanda
Great post. Really enjoyed it.
Comment by Rachael
Great article…Thanks for sharing!
Comment by All Loan Info
Thats great news for people who are struggling to pay off there loans.