Loans

[Brightsmile140]

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Hi! I was just wondering if anyone would be willing to share what they know about when I should start looking into and taking out loans for this upcoming fall. I have an idea on where to go for the loans but I’m not sure when to take them out. Thank you!

 

[zToothinator]

If you're accepting federal loans, you'll need to submit your FAFSA as soon as possible. Your school will eventually send you a financial aid package with what you're eligible for. Once you accept which loans you want to take out and for how much, your school will disperse them to you a couple weeks before you start.

 

[Brightsmile140]

Thank you so much!

If you're accepting federal loans, you'll need to submit your FAFSA as soon as possible. Your school will eventually send you a financial aid package with what you're eligible for. Once you accept which loans you want to take out and for how much, your school will disperse them to you a couple weeks before you start.

 

[jinsonk42]

If you're accepting federal loans, you'll need to submit your FAFSA as soon as possible. Your school will eventually send you a financial aid package with what you're eligible for. Once you accept which loans you want to take out and for how much, your school will disperse them to you a couple weeks before you start.

Does federal loan usually covers all tuition? I need to take out loans for 100% and I filled out FAFSA but have not heard anything back from school.
I am wondering if I need to look for private loans just in case federal loan doesn't cover it all 🙁

 

[sjv]

Does federal loan usually covers all tuition? I need to take out loans for 100% and I filled out FAFSA but have not heard anything back from school.
I am wondering if I need to look for private loans just in case federal loan doesn't cover it all 🙁

It will cover tuition, cost of living, and any other expenses they throw in there. You won't need private loans. It is too early, they will reply closer to when school actually starts.

 

[MGA100]

Does federal loan usually covers all tuition? I need to take out loans for 100% and I filled out FAFSA but have not heard anything back from school.
I am wondering if I need to look for private loans just in case federal loan doesn't cover it all 🙁

It usually starts with stafford loan and I think they cover up to like 48k or something close to that number. If you need more to cover the charges for your dental school, then you can apply for the graduate plus loan but they do a credit check so make sure your credit is not adversely affected or be ready to have a cosigner for this loan. If you do not qualify for the graduate plus loan, then you will need to seek out private loans.

 

[1TrickUnicorn]

If you're accepting federal loans, you'll need to submit your FAFSA as soon as possible. Your school will eventually send you a financial aid package with what you're eligible for. Once you accept which loans you want to take out and for how much, your school will disperse them to you a couple weeks before you start.

Do you know if there's a limit to the federal loans you can take out?

 

[princeafrica]

Do you know if there's a limit to the federal loans you can take out?

Theres a lifetime limit and a annual limit on regular federal loan. If you hit that limit then the rest of the loan comes out of Grad Plus loan which has a higher interest rate

 

[1TrickUnicorn]

Theres a lifetime limit and a annual limit on regular federal loan. If you hit that limit then the rest of the loan comes out of Grad Plus loan which has a higher interest rate

Thank you! Do you know how much is that interest?

 

[batman12345]

Thank you! Do you know how much is that interest?

Interest rate for upcoming year is decided next month. Last year it was 6% and 7%