what is max amount of loan (subsidiz. unsubsiz, grad plus, etc)

[A6project]

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Hi, I'm an applicant for this cycle. And I find myself looking at the cost of attendance more and more.

Private schools costs 87k a year (roughly)

1. how many types of loan is out there? (Stafford subsidized, unsubsidized, grad plus, etccc)

2. What is the max amount you can borrow for each loan?
3. What are interests rate?
4. When you get a private loan, is your interest rates based on your credit score (I won't have my parents to co-sign anything).
5. Any tips for someone like me a new applicant how to finance the tuition (besides military and HSRP scholarship)

Thanks!

 

[dentalWorks]

Hi, I'm an applicant for this cycle. And I find myself looking at the cost of attendance more and more.

Private schools costs 87k a year (roughly)

1. how many types of loan is out there? (Stafford subsidized, unsubsidized, grad plus, etccc)

2. What is the max amount you can borrow for each loan?
3. What are interests rate?
4. When you get a private loan, is your interest rates based on your credit score (I won't have my parents to co-sign anything).
5. Any tips for someone like me a new applicant how to finance the tuition (besides military and HSRP scholarship)

Thanks!

1) subsidized = about 10k per school year (more like 8500)... this is best one, no interest till after graduation

2) unsubsidized = about 35k per school year.... not so great, 6.8 interest, and it starts running the moment you accept

3) graduate plus = pretty much unlimited.... this is the worst at 7.9% interest, and starts running the instant you accept.

there are other ones, but only select few can apply to them (due to lower parents income, etc). Like the parent plus loan... 5% fixed rate interest, but only like 8k per school year or so....

 

[HillsNayyr]

In case you didn't hear there won't be subsidized loans anymore starting summer 2012 for grad students.

 

[HillsNayyr]

http://money.cnn.com/2011/08/01/news/economy/debt_ceiling_students/index.htm

 

[dentalWorks]

Oh... I didn't think that would pass.... oh well