Just because you are starting with a student loan, it may be more advantageous to you to explore a regular unsecured consumer loan on your own signature. Because of your professional potential, you are a good credit risk and lenders of all types will be happy to welcome your loan into their portfolio! If you already have loans in progress, such as a home mortgage loan, you may wish to consider going with that lender, as they may make you a good deal on your consolidation loan because of your prior history with them!
Be certain that you have all of your credit “ducks in a row!”
You will need to meet with your accountant to be able to present a “squeaky clean” financial picture in order to qualify for an attractive rate and attractive terms. The accountant can help you assemble an accurate financial statement and projection of your future earning capacity to present to the lender.
No matter what you do, never give up! Asking is FREE and this is a reasonable request!
Convince your target lender that you are a good credit risk and that they are investing in their future bottom line by working with you now. Your accountant can show you ways that saving the interest money on your high-rate student loans can affect your long and short term economic health. Capitalize on that advice as you present your case to the bank!
Having the opportunity to consolidate your student loans and improve your cash flow can make an immense difference on your financial life in the years immediately following graduation from med school. Take advantage of every available means of maximizing your money and spending power! After all, it is your money and you have certainly earned it!
