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Quick poll: loan repayment time


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I find that unfortunate considering how many patients I see that are uninsured and underserved.

 

Inpatient Settings
Inpatient hospital settings (except CAHs) are not eligible NHSC service sites. Thus, clinicians who are
employed in an inpatient setting in a full time capacity are not eligible for an NHSC LRP award..
Hospitalists do not qualify for the NHSC LRP unless they can consistently meet the required minimum
number of hours per week in an approved outpatient setting, as set forth in the clinical practice
requirements below.
 
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What is a reasonable expectation for a monthly payment on, say, 100K in loans? is the current Gradplus rate around 8%? Suppose it is, what would one be looking at?

 

What is the term for repayment when they set up your monthly payments? I think with private loans its 15 years, like a mortgage. What about student loans? Anyone? I'm curious about the particulars of determining one's monthly payments. 

Loan Calculator

 

Loan Balance: $100,000.00

Adjusted Loan Balance: $100,000.00

Loan Interest Rate: 7.90%

Loan Fees: 0.00%

Loan Term: 10 years

Minimum Payment: $50.00  

Monthly Loan Payment: $1,208.00

Number of Payments: 120  

Cumulative Payments: $144,959.71

Total Interest Paid: $44,959.71

 

Here is the website if you want to play around with different loan terms and get an estimate of what monthly payments would be.

http://www.finaid.org/calculators/scripts/loanpayments.cgi

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