Student Loans

[burgler09]

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Well next year I'll be entering my junior year of college, and sadly all my money will be gone.. so student loans it is baby. Just wondering what companies you guys went through and who was the best? I'd prefer a place where I don't have to pay it back until after I graduate because I don't really make enough to afford payments. Any suggestions would be great!

 

[DrSmiles12]

Can you get any subsidized loans? Those would be your best bet, check with your financial aid office.

 

[rollypolly]

Well next year I'll be entering my junior year of college, and sadly all my money will be gone.. so student loans it is baby. Just wondering what companies you guys went through and who was the best? I'd prefer a place where I don't have to pay it back until after I graduate because I don't really make enough to afford payments. Any suggestions would be great!

I would definitely go to the financial aid office at your school and get a loan through them. Stafford loans have a much better interest rate than pretty much anything you could find elsewhere. Through your financial aid office, you should be able to choose your lender and I would just go with your bank or a bank you are familiar with. You won't have to pay any of that back until 6 months after you finish school. You can also get independent "student loans" that you won't have to pay back until 6 months after school, but the interest rate will be much, much higher.

 

[burgler09]

Our family income is around 150k we don't really qualify for financial aid.. I'll still look into the financial aid though, but i'll be needing to take out a loan around 20k (I'm transferring out of state).

 

[rollypolly]

Our family income is around 150k we don't really qualify for financial aid.. I'll still look into the financial aid though, but i'll be needing to take out a loan around 20k (I'm transferring out of state).

I didn't qualify for need-based financial aid either as my parents' income is well above the minimum amount required for that (even though they don't support me financially). You should still be able to get a student loan from the financial aid office, though. You may not however, be able to get a subsidized loan as DrSmiles suggested. I know that I did not qualify for a subsidized loan, but that is something that you should definitely ask your financial aid office about. You should also fill out FAFSA too if you haven't done that. A lot of schools will require that you do that if you are to get any financial aid through them, including loans.

 

[burgler09]

I'm looking at a private company right now, they will borrow me the money and I guess if I have a cosigner(my dad has good credit) and pay my interest I can get around 6.24% interest. I will be able to afford to pay this, does that sound like a pretty good deal? It is through campusdoor.com

 

[rollypolly]

I'm not really sure how good of a deal that is because I don't know what you could get through your school. I would just research all your options and compare before you decide on one route. Good luck! Student loans are not fun and they are very confusing, so try to talk a financial aid advisor that has a lot of experience working with them.

 

[NewMexDent]

I'm looking at a private company right now, they will borrow me the money and I guess if I have a cosigner(my dad has good credit) and pay my interest I can get around 6.24% interest. I will be able to afford to pay this, does that sound like a pretty good deal? It is through campusdoor.com

Is it a variable interest rate? That could come back and bite you in a couple years. Like suggested, you should go talk to a financial aid officer.

 

[rkamsterdam]

I'm looking at a private company right now, they will borrow me the money and I guess if I have a cosigner(my dad has good credit) and pay my interest I can get around 6.24% interest. I will be able to afford to pay this, does that sound like a pretty good deal? It is through campusdoor.com

yes, check with your financial aid office! You may not qualify for subsidized loans, but unsubsidized loan (through your financial aid office) are gonna be your best bet and you will qualify. your school has long standing relationships with many of these reputable lending institutions. Seek their free professional advice before signing on with some of these online lenders.