Stafford Loans and others

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Rock23

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hey everyone i was wondering that other loans are good besides the stafford loans. I was wondering can I apply for the max sub stafford loan and then take out another sub stafford loan from a different lender? I heard the Signature Student is popular for extra loans if the stafford doesnt cover tuition expenses and living. any suggestions. I think getting the unsub stafford with interest building up can get very high so im not sure if i should take that from my stafford. :confused:

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Rock23 said:
hey everyone i was wondering that other loans are good besides the stafford loans. I was wondering can I apply for the max sub stafford loan and then take out another sub stafford loan from a different lender? I heard the Signature Student is popular for extra loans if the stafford doesnt cover tuition expenses and living. any suggestions. I think getting the unsub stafford with interest building up can get very high so im not sure if i should take that from my stafford. :confused:

You only get one subsidized stafford loan (up to $8500) per year. It doesn't matter who your lender is. The other good loan is the Perkins loan (5% fixed interest, up to $6000 per year), so take it if you get it. If you still need money, you might as well take out the unsubsidized stafford loan, since private loans *usually* have much higher interest rates.
 
ok that clears it up a bit. I didnt get the perkins loan though when I filled out Fafsa. Anyone know if the Signature Student loan is my next best option to cover further expenses? I currently have Sallie Mae as my lender for the stafford loan but thinking of changing it to THE. I'll look into other loans from them and see what I can find. thanks
 
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Rock23 said:
ok that clears it up a bit. I didnt get the perkins loan though when I filled out Fafsa. Anyone know if the Signature Student loan is my next best option to cover further expenses? I currently have Sallie Mae as my lender for the stafford loan but thinking of changing it to THE. I'll look into other loans from them and see what I can find. thanks

Take out the Unsub. Stafford Loan.

Max this out before you try anything else.
 
Rock23 said:
ok that clears it up a bit. I didnt get the perkins loan though when I filled out Fafsa. Anyone know if the Signature Student loan is my next best option to cover further expenses? I currently have Sallie Mae as my lender for the stafford loan but thinking of changing it to THE. I'll look into other loans from them and see what I can find. thanks


I have to apply for loans too, and I am lost. the website my school gave me was www.hesc.org Where I can apply for an unsubsidized stafford loan. the problem is that they gave me a choice of two lenders to pick from, Sallie mae or Citibank. While Citibank states that origination fee is 0, Sallie Mae states that 1% of the total is paid by the loan guarantor (who would that be :eek: ). both also discuss stuff that sounds like greek and latin to me. If you guys have already gone through this stuff can you please advise which one would be better to pick, and which one usually follows a lower interest trend?
 
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