College students please get familiar with your student loans

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Joined Aug 23, 2004
i just called the student loan people to ask why was i set up to begin re-paying student loans when i haven't graduated yet. she told to that there was anerror made by the school i attend and to download a form which would solve the problem. i asked what i thought was a stupid question "can i begin to payback my student loans before i graduate?" she told yes and that my question wasn't stupid it actually i pretty smart thing to ask. She took a look atmy account ( i owe $8,000 on a subsidized loan) and told me if i waited to graduate before i paid back that loan the interest alone would make that loanincrease by an additional $3,000. Mind you i told her i plan on finishing in a year or so. She told me to send in whatever i can, whenever i can because itwould save a lot in the long run. She helped me out so I just want to pass that on to anyone who is interested. I plan on setting up an account on-line with mychecking acct so i can do a little something with that student loan. There are no additional fees for paying down your loan while in school.( I just had to askthat)
 
5,946
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Joined Jan 4, 2008
There's a six or nine month grace period, after that you start making payments.

You can pay at any time after the money has been disbursed.
 
7,852
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Joined Jun 29, 2008
Originally Posted by QueenCitySneakerQueen

Good looks on the info
I don't get how its good looks. All of this info is readily available through your financial aid office if you ask.
 
3,948
1,194
Joined Nov 16, 2001
What kind of loan do you have that you'll pay 38% interest in a year? either she mistook the amount to be $300 at 3.7%, or you've got the WORST loanin the world.

FYI... try to make at least double the payment and you'll get done in about 4 years.
 
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