Student Loans

[Mirror Form]

Hey, it's about time to consolidate all of the student loans. I was wondering if there is anything about the military that could change our loan payback. For example, I've heard that if you're active duty in the military, you can extend your grace period for paying back perkins loans. Is this true? What about stafford loans?

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[Homunculus]

Hey, it's about time to consolidate all of the student loans. I was wondering if there is anything about the military that could change our loan payback. For example, I've heard that if you're active duty in the military, you can extend your grace period for paying back perkins loans. Is this true? What about stafford loans?

i just consolidated, and there isn't anything special about being in the military-- but i didn't have any perkins loans, so things may be different with them.

--your friendly neighborhood consolidated caveman

 

[AubreyMaturin]

Can you take out the full amount of stafford and perkins loans while in school under the HPSP. How much is this, ~16,000? I may actually need to take out a year of loans so that I can pay off dept that I have at almost 2x the stafford interest rate. Not to mention, it is good to have that security blanket if needed.

 

[delicatefade]

It depends on how your school treats the issue. Some schools allow students to borrow quite a bit of money while on the HPSP. My school unfortunately views my tuition assistance AND stipend as "financial aid" so I am only eligible to borrow above my tuition + stipend to the maximum student budget. Which isn't much. I think I was eligible for $6000 in unsubsidized Stafford loans this year.

 

[Heeed!]

It depends on how your school treats the issue. Some schools allow students to borrow quite a bit of money while on the HPSP. My school unfortunately views my tuition assistance AND stipend as "financial aid" so I am only eligible to borrow above my tuition + stipend to the maximum student budget. Which isn't much. I think I was eligible for $6000 in unsubsidized Stafford loans this year.

That sucks. I borrow approx. $45k/yr. My financial aid department is helpful.