Fed Financial
student loans?
Has anyone used student loans to pay for all of college? Saved while they were in college and then used the money to pay of a large chunk of their loan. I haven't gotten my financial aid back yet, but I'm pretty sure that it won't be enough to cover all my costs. I was thinking I could take out a student loan ( I've seen that many kinds don't have to be repaid until after school) save while in school ( along with help from my parents) and pay off a large chunk of it when I get out.
Public Comments
- I'm sure there are folks who have no choice but to take student loans to pay for all of college. Student loans are usually paid off after college ( I think couple months after you graduate.) I think you have two choices. One, to work your way through college; work and earn money and pay for tuition as you go (which I don't recommend b/c I would imagine it would be hard for you to concentrate on school work/ have a social life.) Or two, take on the student loans. I think it would be wise to save while in school, and pay a large chunk like you said. Good luck!
- Under your circumstance,I suggest here for you to have a visit.http://studentloan.online-helpers.info/consolidation-keyword-loan-student.html
- If you choose this options, Federal Stafford Loans (http://www.StaffordLoan.com) are the way to go. For undergraduates, interest is subsidized by the US govt. - meaning they pay it while you are in school. You may incur some upfront fees but overall borrowing Stafford Loans is a great deal. If you need additional money (Stafford Loans have limits to what you can borrow each year), I would suggest you look at school certified private student loans (compare with Direct to Consumer Loans at: www.PrivateStudentLoans.com). Private student loans usually have higher interest rates, upfront fees and the interest accumulates while you are in school. You will owe more after graduating than what you borrowed. Private loans are a great way to meet the gap between what you have to pay and other financial aid. Check with your financial aid office - they should have some other ideas.
