NT, school me on student loans

newmoanyuh

newmoanyuh

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Mar 17, 2010
I'll be entering UT next year as a freshman and I just got my financial aid report in. The only loan I have (the rest are grants and scholarships
pimp.gif
) is $808 a semester called a Federal Direct Subsidized Loan. I know absolutely nothing abut unsubsidized, subsidized loans, or loans period.. Also, I've been looking into Stafford loans and the private ones available are
citi-sm.gif


  • Interest rates ranging between 3.625% and 11.375%[sup]1[/sup]
  • A 0.25% interest rate reduction for auto-debit payments.
  • A creditworthy co-signer may increase chances of a lower interest rate.



lg.php

US-Bank-150x46.png

  • Interest Rates as low as Prime + .20%[sup]1[/sup]
  • 0.50% interest rate deduction for auto payment[sup]2[/sup]
  • Cosigner release option available



discover-student-loans-small.png


  • Variable rates as low as 3.75%
  • 2% Graduation Reward
  • Live customer service 7 days a week

sick.gif
and I know what none of this means. Anyone have any experience with student loans in general...?
Click to expand...
 
I'll be entering UT next year as a freshman and I just got my financial aid report in. The only loan I have (the rest are grants and scholarships
pimp.gif
) is $808 a semester called a Federal Direct Subsidized Loan. I know absolutely nothing abut unsubsidized, subsidized loans, or loans period.. Also, I've been looking into Stafford loans and the private ones available are
citi-sm.gif


  • Interest rates ranging between 3.625% and 11.375%[sup]1[/sup]
  • A 0.25% interest rate reduction for auto-debit payments.
  • A creditworthy co-signer may increase chances of a lower interest rate.



lg.php

US-Bank-150x46.png

  • Interest Rates as low as Prime + .20%[sup]1[/sup]
  • 0.50% interest rate deduction for auto payment[sup]2[/sup]
  • Cosigner release option available



discover-student-loans-small.png


  • Variable rates as low as 3.75%
  • 2% Graduation Reward
  • Live customer service 7 days a week

sick.gif
and I know what none of this means. Anyone have any experience with student loans in general...?
Click to expand...
 
In hindsight, I would do whatever it took to stay away from student loans.  Pick up a part time job while in school to offset the cost of your education.  It'll sting now, but you will thank yourself everyday when your friends are still paying for their education while they're preparing to send their kids off to school in 20 years.
 
In hindsight, I would do whatever it took to stay away from student loans.  Pick up a part time job while in school to offset the cost of your education.  It'll sting now, but you will thank yourself everyday when your friends are still paying for their education while they're preparing to send their kids off to school in 20 years.
 
I probably have more student loans than anyone on this board it hurts everyday!
 
I hate student loans, but I look at them as a necessary evil. I'm working hard in school so I can get a good paying job to pay the loans back.

Subsidized: Gov't pays interest until 6 months after graduation
Unsubsidized: Accrues interest as soon as you get the money

Like the people said before me, get a job to offset that $808, and be happy you'll be going to a school with a large endowment.
 
I hate student loans, but I look at them as a necessary evil. I'm working hard in school so I can get a good paying job to pay the loans back.

Subsidized: Gov't pays interest until 6 months after graduation
Unsubsidized: Accrues interest as soon as you get the money

Like the people said before me, get a job to offset that $808, and be happy you'll be going to a school with a large endowment.
 
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