UOP Loan HELP!!!

[ilostmyspacebar]

---

Members do not see this ad.

I'm completely new to Loans so these questions might sound dumb but i'm going crazy!.....

I just got my award letter and i'm getting 8500 (stafford loan sub) and 22500 (unsub stafford loan). So i'll need to take out around 13000 in private loans to cover the rest of tuition/expenses.

do i have to shop around for a stafford lender or is that taken care of?

also, i'm looking at private loan sites but i sitll have no clue what's going on. I also got, along w/ my award letter sometimes that says that i can get the
"professional student PLUS loan" from the govt. do i apply for that loan through private lenders????

thanks in advance =)

 

[pinkyrx]

Our school have us a list of potential lenders for the stafford loans but we were allowed to choose others too I think. I went with T.H.E (Northstar) after reading some great things about them here. Have you checked out the financial aid forum here at SDN?

I'm not sure how the private loans work, but I would think if you called your school's financial aid department that they could lead you in the right direction. I'm surprised they didn't mention anything about it in your award letter packet.

 

[imkim01]

I'm completely new to Loans so these questions might sound dumb but i'm going crazy!.....

I just got my award letter and i'm getting 8500 (stafford loan sub) and 22500 (unsub stafford loan). So i'll need to take out around 13000 in private loans to cover the rest of tuition/expenses.

do i have to shop around for a stafford lender or is that taken care of?

also, i'm looking at private loan sites but i sitll have no clue what's going on. I also got, along w/ my award letter sometimes that says that i can get the
"professional student PLUS loan" from the govt. do i apply for that loan through private lenders????

thanks in advance =)

I need to get similar amount from a private lender. I am interested in "professional student PLUS loan as well. Anyone here can give us an advice regarding this loan?

 

[TheChemist]

I think what I'm going to do is apply for the PLUS loan and apply for private loan and compare the two. Specifically for UOP I was looking into the Medachiever loan with Key. The one major difference that I see is that the private loan has a variable interest rate while the Plus loan has a fixed. The other difference is that for the private loan the interest rate is solely derived from you credit score, while the PLUS loan is a flat 8.5% no matter what your credit score is. Key told me that their interest rate is starting at 7.5% right now. I need to get more information before I make a decision. Either way it looks like everyone at UOP will be able to take an additional $30000 to the Stafford loan out if they need it with out a problem. Well, besides the problem of accumulating a huge debt of course.

 

[TheChemist]

I'm completely new to Loans so these questions might sound dumb but i'm going crazy!.....

I just got my award letter and i'm getting 8500 (stafford loan sub) and 22500 (unsub stafford loan). So i'll need to take out around 13000 in private loans to cover the rest of tuition/expenses.

do i have to shop around for a stafford lender or is that taken care of?

also, i'm looking at private loan sites but i sitll have no clue what's going on. I also got, along w/ my award letter sometimes that says that i can get the
"professional student PLUS loan" from the govt. do i apply for that loan through private lenders????

thanks in advance =)

I just talked to uop about the PLUS loan and I guess that program has not started yet. They told me that they may get more information in July. Because of this it may not be a viable option for this coming year.

 

[ZpackSux]

good lord...

Transfer to a state school...

it was a big pain in the arse to pay off $50,000 for 4 years of USC....

 

[TheChemist]

Ya I'm not looking forward to the debt. At least I can graduate from UOP in three years and the third year is cheaper.

$50K for 4 years at USC? I'm guessing you graduated from there a few years back. I think today 50K will last you about one year at USC.

 

[per protocol]