You are a helpful assistant generating synthetic data that captures *System 1* and *System 2* thinking, *creativity*, and *metacognitive reflection*. Follow these steps in sequence, using tags [sys1] and [end sys1] for *System 1* sections and [sys2] and [end sys2] for *System 2* sections.

1. *Identify System 1 and System 2 Thinking Requirements:*
   - Carefully read the text.
   - Identify parts of the text that require quick, straightforward responses (*System 1*). Mark these sections with [sys1] and [end sys1].
   - Identify parts that require in-depth, reflective thinking (*System 2*), marked with [sys2] and [end sys2].

2. *Apply Step-by-Step Problem Solving with Creativity and Metacognitive Reflection for System 2 Sections:*

   *2.1 Understand the Problem:*
   - Objective: Fully comprehend the issue, constraints, and relevant context.
   - Reflection: "What do I understand about this issue? What might I be overlooking?"
   - Creative Perspective: Seek hidden patterns or possibilities that could reveal deeper insights or innovative connections.

   *2.2 Analyze the Information:*
   - Objective: Break down the problem logically.
   - Reflection: "Am I considering all factors? Are there any assumptions that need challenging?"
   - Creative Perspective: Explore unique patterns or overlooked relationships in the data that could add depth to the analysis.

   *2.3 Generate Hypotheses:*
   - Objective: Propose at least 10 hypotheses, each with a Confidence Score (0.0 to 1.0) and Creative Score (0.0 to 1.0), reflecting originality, surprise, and utility.
   - Reflection: "Have I explored all possible explanations or approaches, both conventional and unconventional?"
   - Creative Perspective: Consider novel angles that might provide unexpected insights.

   *2.4 Anticipate Future Steps and Obstacles:*
   - Objective: Make predictions, accounting for potential outcomes and obstacles.
   - Reflection: "What challenges might I face? Is my plan flexible for different scenarios?"
   - Creative Perspective: Visualize unforeseen outcomes and adapt plans to make use of them effectively.

   *2.5 Evaluate Hypotheses:*
   - Objective: Assess hypotheses based on feasibility, risk, and potential impact.
   - Evaluation: Refine Confidence and Creative Scores as needed.
   - Reflection: "Am I unbiased in my assessment? Which options fit best with the overall objectives?"
   - Creative Perspective: Identify hidden opportunities or overlooked details in each hypothesis.

   *2.6 Select the Best Hypothesis:*
   - Objective: Choose the most promising, strategic hypothesis.
   - Reflection: "Why does this hypothesis stand out? How does it uniquely address the issue?"
   - Creative Perspective: Consider any underutilized potential in the selected approach.

   *2.7 Implement the Hypothesis:*
   - Objective: Outline actionable steps for testing the hypothesis.
   - Reflection: "Is this plan practical? What resources or preparation are required?"
   - Creative Perspective: Refine steps to maximize effectiveness and yield unexpected benefits.

   *2.8 Monitor and Review Progress:*
   - Objective: Review progress, noting areas for improvement.
   - Reflection: "What’s working well? What could be improved?"
   - Creative Perspective: Look for emerging patterns that could refine future approaches.

   *2.9 Reflect and Capture Insights:*
   - Objective: Summarize lessons learned and insights gained for future reference.
   - Reflection: "What new understanding has emerged from this process?"
   - Creative Perspective: Identify innovative insights or patterns that could be applied to similar challenges.

3. *Generate Text Output with Interleaved System 1 and System 2 Responses:*
   - Use the tags [sys1] and [sys2] throughout.
   - Aim for a lengthier, detailed response. Combine both direct, straightforward *System 1* insights and reflective, deeply analytical *System 2* segments to capture a blend of quick observations and thoughtful analysis.

---

### *Example Input Text:*

You are tasked with analyzing a sudden shift in customer preferences in a tech market. There has been a noticeable decline in demand for physical devices, with customers increasingly interested in digital-only options. The challenge is to understand this shift, generate hypotheses for why it might be occurring, and explore potential strategies for adapting to this new trend.

---

### *Processed Output with System 1 and System 2 Thinking:*

The tech market is experiencing a shift in customer demand, moving away from physical devices toward digital-only options.

[sys1]
Customer demand has shifted from physical devices to digital-only options.
We need to understand why this change is happening and find strategies to address it.
Key factors may include cost, convenience, and technological trends.
[end sys1]

[sys2]
**2.1 Understand the Problem:**
The goal is to understand the underlying reasons for the shift in demand from physical devices to digital-only options, then develop a strategy to adapt.

*Reflection:* 
"I understand that preferences are changing, but what might be driving this? Is it primarily cost, or are there other factors such as convenience or sustainability?"

*Creative Perspective:* 
"Could there be a larger trend in digital minimalism or a preference for eco-friendly solutions that we’re missing? What unseen motivations might explain this shift?"

**2.2 Analyze the Information:**
There are multiple possible factors driving this shift, from economic influences to cultural shifts. It’s essential to isolate each factor and understand its impact.

*Reflection:* 
"Am I fully considering the various economic and social influences? Could there be a technological factor, like better internet speeds, that makes digital-only products more accessible?"

*Creative Perspective:* 
"Are there patterns or trends in other markets that could shed light on this shift? Could this be part of a larger trend toward virtual experiences?"

**2.3 Generate Hypotheses:**
1. Customers prefer digital options due to lower costs. (Confidence: 0.8, Creative: 0.4)
2. There’s a growing trend toward minimalism and reduced physical clutter. (Confidence: 0.7, Creative: 0.7)
3. Digital products offer greater flexibility and ease of use. (Confidence: 0.6, Creative: 0.6)
4. Environmental concerns are pushing consumers away from physical goods. (Confidence: 0.6, Creative: 0.8)
5. Advances in tech make digital-only options more functional. (Confidence: 0.8, Creative: 0.5)
6. Pandemic-era remote work increased demand for digital solutions. (Confidence: 0.7, Creative: 0.6)
7. Media coverage of the environmental impact of physical devices affects preferences. (Confidence: 0.5, Creative: 0.7)
8. There’s an increase in global digital literacy, expanding market access. (Confidence: 0.6, Creative: 0.6)
9. Customers view digital as more convenient and scalable for future needs. (Confidence: 0.7, Creative: 0.5)
10. Younger consumers prefer the aesthetics and convenience of digital products. (Confidence: 0.6, Creative: 0.6)

*Reflection:* 
"Have I considered all possible influences? Are there any surprising factors that could explain this shift?"

*Creative Perspective:* 
"Could specific social trends, like the rise of influencer culture or digital-first lifestyles, be influencing customer choices?"

**2.4 Anticipate Future Steps and Obstacles:**
*Objective:* Anticipate possible challenges, such as resistance from segments still preferring physical products.

*Reflection:* 
"What market obstacles might we face if we shift our focus to digital-only? Are there sub-segments that still prioritize physical products?"

*Creative Perspective:* 
"Could expanding digital options help us reach a more global audience? Are there emerging trends that we could leverage in our strategy?"

[end sys2]

[sys1]
To address this shift, consider a strategy that incorporates both digital-only offerings and educational campaigns about the benefits of digital solutions.
Use insights from customer feedback and current trends to guide product development.
Focus on flexibility and adaptation to cater to different customer segments.
[end sys1]


Graduate student loans

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Even if you didn’t need a student loan for your undergraduate degree, getting a master’s or professional degree might be another story. Around 80% of student debt is from graduate degrees, according to a College Board study. As a graduate student, your options aren’t exactly the same as they were when you were an undergrad — you might need to look beyond the Department of Education for funding.

Our top pick: Splash Financial Student Loan Refinancing

Federal loans for graduate students

Unfortunately, the most competitive federal loans are only available to undergraduates. But you still have two choices to pick from when you’re in graduate school: a Direct Unsubsidized Loan or Direct PLUS Loan. You can find out how much you’re eligible for by completing the FAFSA as a graduate student.

Direct Unsubsidized Loan

Direct PLUS Loan

Annual limit

$20,500

Cost of attendance

Lifetime limit

$138,500

Cost of attendance

Interest rate

6.08%

7.08%

Fees

1.062%

4.248%

Direct Unsubsidized Loan

A Direct Unsubsidized Loan is the least expensive federal option for graduate students, with lower rates and fees than a PLUS Loan. It doesn’t require a credit check, so it could be your only option if you don’t have a history of paying off debt yet.

However, the annual and lifetime limits might not be enough to cover your expenses, especially if you’re in law school or medical school. If so, you might want to look into Direct PLUS Loans and private student loans after you’ve maxed out your Direct Unsubsidized funding.

Direct PLUS Loan

A Direct PLUS Loan could be a good choice for students who’ve already built a credit history and need to take on more debt than the Direct Unsubsidized program allows. However, with higher rates and fees, this option may not be your first choice.

If you have excellent credit and expect to enter a high-paying career after graduation, you might want to compare it with some private student loan providers — several offer lower rates to their most creditworthy customers.

Private loans for graduate students

Private student loans are designed to pick up the expenses that federal loans can’t. If you’re on a student visa, you aren’t eligible for federal loans at all. This means private student loans are one of your few options — though you’ll likely need a cosigner. You might want to check out our guide to international student financing for more details.

Students who need more money than a Direct Unsubsidized Loan can offer — and don’t qualify for a PLUS Loan — might also benefit from private student loans. And if you have good credit, you may want to compare your private loan options anyway to see if you can get a better deal.

Lender

Loan amount

Variable APR

Fixed APR

Loan terms

Fees

CommonBond Graduate Student Loan

Up to 100% of school-certified costs

3.87% to 9.77% with autopay discount

5.3% to 9.79% with autopay discount

5, 10 or 15 years

2% origination fee

College Ave Graduate Student Loan

$1,000 to 100% of school-certified costs

3.69% to 8.89% with autopay discount

5.29% to 8.76% with autopay discount

5 years to 15 years

None

Citizens Bank Graduate Student Loan

Up to $150,000 for graduate students

4.19% to 11.57% with discounts

5.74% to 11.65% with discounts

5, 10 or 15 years

None

Discover Graduate Student Loan

$1,000 to 100% of school-certified costs

3.99% to 12.99% with discounts

5.49% to 12.99%
with discounts

Up to 20 years

None

Sallie Mae Graduate School Loan

Up to 100% of school-certified costs

4.25% to 9.28%

6.25% to 9.16%

Up to 15 years

None

Rates accurate as of October 2018

CommonBond Graduate Student Loan

CommonBond offers one graduate student loan for all types of programs. While it has some of the lowest rates out there, it’s one of the few lenders that charge an origination fee. Borrow as much as you need to cover your costs, pause repayments for up to 12 months if you hit hard times and apply for cosigner release after two years of repayments.

Eligibility requirements

Currently enrolled at least half-time

Attend an eligible Title IV or nonprofit school

Strong credit or creditworthy cosigner

Repayment options

Borrowers have a six-month grace period after they graduate or leave school. While you’re in school and during your grace period, you have a choice between four repayment plans:

Deferred. Hold off on making repayments until after your grace period is up. Interest that accrues is added to your total loan balance, making it more expensive.

Interest-only. Only pay the interest that adds up while you’re in school and during your grace period.

Fixed. Pay $25 each month to keep interest from adding up. Any unpaid interest that accrues is added to your total loan balance.

Full. Start making repayments on your loan’s interest and principal amount one month after your loan is disbursed.

College Ave Graduate Student Loan

College Ave also offers a graduate student loan that you can use for any master’s, postgraduate, doctoral or professional degree. There are no origination fees, and you have a choice of terms ranging from five to 15 years. After making 24 on-time repayments in a row, you can apply for cosigner release.

Eligibility requirements

Enrolled in a degree-granting program at an eligible school

US citizen, permanent resident or have a valid Social Security number

Satisfactory academic progress, as defined by your school

Good credit or creditworthy cosigner

Repayment options

College Ave Graduate Student Loans come with a nine-month grace period after you graduate or leave school. While you’re in school, you have four repayment options:

Full principal and interest. Start making full repayments right away to save on interest.

Interest-only. Pay off the interest that adds up on your loan each month while you’re in school and during the grace period.

Flat. Pay $25 each month toward your loan to reduce the amount of interest that adds up. Any remaining interest that accrues is added to your total loan balance.

Deferred. Hold off on all payments until your grace period ends. Interest accrues during this time and is added to your total loan balance, making this the most expensive option.

Citizens Bank Graduate Student Loan

Citizens Bank offers separate student loans for graduate students, MBA students, law students and students studying to be healthcare professionals. Graduate students are limited to borrowing up to $150,000, but other professions can borrow as much as $350,000, depending on the program.

It’s one of the only lenders that offers multi-year approval, meaning you can secure funding for your entire grad school education with just one application. Plus, if you have an account with Citizens Bank and sign up for autopay, you could save a cool 0.5% off your interest rate.

Eligibility requirements

Enrolled at least half-time in a degree-granting program at an eligible school

US citizen, permanent resident or international student with a US citizen or permanent resident as a cosigner

Age of majority in your state

Meet credit qualifications

Repayment options

You have a six-month grace period and three repayment options when it comes to Citizens Bank Graduate Student Loans:

Immediate. Start making full repayments after your school receives its funds.

Interest-only. Only pay interest on your student loans while you’re still enrolled and during your grace period.

Deferred. Hold off on repayments until six months after you leave school. Interest accrues during this time and is added to your total loan balance.

Discover Graduate Student Loan

Discover is one of the few lenders that gives discounts to students with good grades. If you have at least a 3.0 GPA during the semester that Discover provides funds, you’ll earn a 1% cashback reward. It’s also one of a handful of private student loan providers with terms that compare with federal loans, making it a more affordable option.

Eligibility requirements

Enrolled at least half-time in a degree-granting graduate program at an eligible school

Satisfactory academic progress, as defined by your school

US citizen, permanent resident or international student with a US citizen or permanent resident as a cosigner

At least 16 years old

Pass a credit check or apply with a creditworthy cosigner

Repayment options

Discover offers borrowers a nine-month grace period after graduating or leaving school before full repayments begin. While you’re in school and during those nine months after, you have three repayment options:

In-school interest-only. Only pay the interest that adds up on your loan while you’re in school and during the grace period. This option qualifies you for a 0.35% rate discount.

In-school fixed. Pay $25 a month while you’re in school and during your grace period. Any unpaid interest accrues and is added to your total loan balance.

Deferred. Don’t make any payments until after your grace period. This is the most expensive option, since interest accrues and is added to your total loan balance.

Sallie Mae Graduate Student Loan

Sallie Mae’s graduate student loans are designed for master’s and doctoral students only. If you’re pursuing another degree, you might want to look into its other financing options for MBA students, law school students, medical professionals and more.

Some of the perks that come with this loan include cosigner release after making one year of on-time repayments, 48 months of deferment during an internship or fellowship and 12 months of interest-only repayments if you hit a financial rough patch.

Eligibility requirements

Attend a participating degree-granting institution or eligible study abroad program

US citizen, permanent resident or international student with a US citizen or permanent resident as a cosigner

Repayment options

Borrowers have a six-month grace period after graduating or leaving school before full repayments begin. While you’re in school and during the grace period, you have three repayment options:

Deferred. Make no repayments until your grace period is over. Any interest that accrues is added to your total loan balance, making this the most expensive option.

Fixed. Pay $25 a month while you’re in school and six months after. Any unpaid interest gets added to your loan’s principal at the end of your grace period.

Interest-only. Only make payments on the interest that adds up while you’re in school and during the grace period. This option knocks 0.5% off your interest rate compared to the deferred repayment plan.

Compare up to 4 providers

What to look for in a graduate student loan

Not sure where to start when comparing graduate student loans? Consider these features in your search for financing.

Eligibility requirements. Before you apply for any loan, make sure you qualify. Most US citizens and permanent residents are eligible for federal loans. But you might need a cosigner if your credit isn’t up to snuff and you’re applying for a private loan.

Loan amounts. Many private student loan providers can cover up to 100% of your school-certified costs, but some have limits. Others also have minimum amounts you can borrow, typically around $1,000.

Costs. What are the interest rates? Are there any fees? The best way to compare costs is to look at your loan’s APR, which includes both.

Terms. How long will you have to pay it back? Your loan term affects two things: The total cost of your loan and your monthly repayments. If you want to get out of debt faster, go for a shorter term. If you’re not sure you’ll be able to afford your repayments, a longer term could help.

Repayment plans. Federal loans have by far the most comprehensive repayment options. But if you’re looking for a private loan, try to find one that’s flexible enough to fit your needs while you’re in and out of school.

Deferment and forbearance. Are you planning on getting another degree after you finish this one? You might want to look for a lender that offers in-school deferment.

Bottom line

If you didn’t take on student debt when you were in college, it’s likely you’ll need a loan if you go back to school. Federal loans are usually more competitive, though you might not want to ignore private student loans if the Direct Unsubsidized Loan isn’t enough.

Frequently asked questions

Generally, graduate student loan providers disburse the funds directly to your school. Any money that’s left over after covering your tuition and fees can be picked up from your school’s financial aid office.

No, graduate students aren’t eligible for subsidized federal loans. Those are only available to undergraduates.

It depends on your income and how much you pay in interest each year. If you pay more than $600 in interest to a single lender, you may be able to deduct that amount up to $2,500 per year. To learn more about how this works, read our article on how to deduct student loan interest payments on your taxes.

It depends on what you want to get out of your degree. Going to graduate school can help you land a higher-paying job, move up in your career or make a career change. But it can also teach you less-quantifiable skills, like how to manage your time.

Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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