I'll be borrowing $22,200 to pay for school. All other things being equal, which loan is best? All three options have a 10-year term. Loan #1: 5.55% fixed rate; 1% principal rebate after 12 months; a second 1% principal rebate after 24 months Loan #2: 5.55% fixed rate; zero payments for the last 6 months Loan #3: 6.55% fixed rate; a 3.3% principal rebate after 33 months [more inside]
posted by kakes on Jun 25, 2007 - 7 answers

Right now, I plan to start business school in the fall. It's a top five program, and in all likelihood, my salary after school will be about twice what I make now. That said, I'll be borrowing about $80K to cover the costs in the short-term. Is this a good idea? I'm excited about b-school in general but perhaps not to the extent that I'm willing to incur a debt that will burden me for decades to come.
posted by kakes on Jun 13, 2007 - 23 answers