_Anyone got student loans?

[mjbetch]

I'm very thankful that my parents had paid 4 years of my college out of pocket. Now that I'm past the 4 years and still not graduated (Yes, I know... But transferring out of community college and also switching majors sometimes has its drawbacks. It also doesn't help that I fooled around a bit, but I grew up) and now my parents are telling me to pull a loan. I'm totally fine with it since they paid for my college already. It's time for me to handle my own business.

Any one of you all have any student loans? Should I go through the government, or a just through a bank?

My mom tells me that she doesn't really want to co-sign but will if needed. The thing that sucks is, so far, I haven't gotten any money from FAFSA. I'm still dependent on my parents, and according to the government, they make too much. Therefore, they won't give me any.

Any advice?

 

[veryanalytical85]

Private Loans like Sallie Mae and other Bank loans are harder to acquire now that we have our "Debt Ceiling" in question at the moment. Also interests rates are about 15-20% depending on the loan and your credit history.

Therefore, put in time to get Federal Stafford Loans (FASFA loans; Low interest rates 7-9% and monthly payments) and Scholarships. I know writing essays is the last thing you want to do in college. However scholarships are free money and you don't have to pay it back. Go to your Financial Aid Office and they should also have some of this info.

Good luck.

 

[krazy]

Federal direct loans.. basically you just have to pay back the full amount on a monthly basis (anywhere from 50+), probably about 6 months after you graduate.

 

[ryair max 1]

* I will say that unless you have the means (job and credit history), try to use private student loans as a last resort.

I have 2 private student loans for large amounts. Yea I know I was dumb but my credit history/credit history of my cosigner grabbed a VERY low rate. I'm paying 4.2 % on one and 4 % on the other. For both combined, my minimum payments should probably be a G +, but my minimum payments are $510 combined. My interest was actually just dropped on one as of last month (the 4 $% one).

Private loans can be a @*$%$ but if you have a strong credit history, they can be manageable with a low interest rate. 

 

[brocomeatme]

I took some loans out but my parents have agreed to pay for all of them since I got a lot of scholarship money

 

[foxdawg2000]

i pay about 400 a month for my two loans.. one was private through sallie mae.. that one is 250 a month. sometimes i wish i went a community college my first 2 years and saved up.. but hey all in all i'm fortunate to have a job that covers em all.. *knocks on wood*