Question:
I'm in need of more student loans to get through my senior year. I used to get loans through this one bank that had an APR around 4-5%, but within a year it's more than doubled on me to over 8%, and I haven't even gotten out of college yet. To me, this is ridiculous, because it's like I apply for a loan under the impression I'll be getting one deal when I get out of college and actually have to pay for it, but then the bank says, "That deal you signed up for, just kidding, you have to pay us twice that." Uuuggghhh.... so needless to say, I would like to find a loan with a low, FIXED rate that I don't have to pay until I get out of college. Whether it goes straight to me and I give it to the college or if it goes straight to the college, I don't care. So if anyone knows of a good place to get a loan or maybe know of a website that has a listing of the best loans out there for me, I would greatly appreciate it. Thanks.
Answer:
Originally Posted by ApparentlyNothing I'm in need of more student loans to get through my senior year. I used to get loans through this one bank that had an APR around 4-5%, but within a year it's more than doubled on me to over 8%, and I haven't even gotten out of college yet. To me, this is ridiculous, because it's like I apply for a loan under the impression I'll be getting one deal when I get out of college and actually have to pay for it, but then the bank says, "That deal you signed up for, just kidding, you have to pay us twice that." Uuuggghhh.... so needless to say, I would like to find a loan with a low, FIXED rate that I don't have to pay until I get out of college. Whether it goes straight to me and I give it to the college or if it goes straight to the college, I don't care. So if anyone knows of a good place to get a loan or maybe know of a website that has a listing of the best loans out there for me, I would greatly appreciate it. Thanks.
Federal Subsidized Stafford Loan
Answer:
Got it already. I'm getting as much as the government and my school will give me (scholarships and loans) given my family's income. So they need to be external loans (sorry I didn't clarify in the first post).
To be honest, I'm right in that middle area where you get screwed paying for college. We're not poor enough that we get enough financial aid, but we're not rich enough to be able to make up the difference ourselves.
Answer:
Originally Posted by ApparentlyNothing Got it already. I'm getting as much as the government and my school will give me (scholarships and loans) given my family's income. So they need to be external loans (sorry I didn't clarify in the first post).
To be honest, I'm right in that middle area where you get screwed paying for college. We're not poor enough that we get enough financial aid, but we're not rich enough to be able to make up the difference ourselves.
Man that sucks. It really sucks to be in the position where you have to hang yourselves in order to get through college. But I will be joining the military so they will pay my loans after I graduate. That will be good.
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Originally Posted by SeekerOLight Man that sucks. It really sucks to be in the position where you have to hang yourselves in order to get through college. But I will be joining the military so they will pay my loans after I graduate. That will be good. Unfortunately, I'm not exactly the military type. But good luck with that.
Answer:
Originally Posted by ApparentlyNothing To be honest, I'm right in that middle area where you get screwed paying for college. We're not poor enough that we get enough financial aid, but we're not rich enough to be able to make up the difference ourselves.
my situation is the same as yours. it sucks a lot to be in the middle. I just got a loan through student capital corporation. the rate's a little bit higher (around 8%) and if I pay interest payments while in school then it's closer to 7-7.5% with 0% origination. this is the first time I've taken out a loan, so I haven't yet encountered the getting-screwed-over stage, but they were pleasant to work with and all that. if you're interested, the addy is studentcapital.net.
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Thanks, I'll look in to it.
I don't mean to be all like, "I'm middle class, woe is me", because being in poverty is much worse, and I would never have had the opportunities nor gotten the education I had gotten to be able to get me to a decent college, let alone get the scholarships I do have. I'm eternally grateful to my parents for getting me this far in life. It's just unfortunate that college costs so much and that the government is more concerned about wars in countries we shouldn't even be in and whether homosexuals can get married than better the next generations through education...... but that's a tangent
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Have you looked into getting a part-time job? Paying off student loans stinks, especially at the interest rate you're looking at.
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Originally Posted by darfaz Have you looked into getting a part-time job? Paying off student loans stinks, especially at the interest rate you're looking at. I know. For me, it was really hard holding down a job while in school. My grades suffered...and my obligations to my scholarship were starting to slip. I had to evaluate what meant more. Not being in debt VS leaving school with a really low GPA.
Answer:
Originally Posted by darfaz Have you looked into getting a part-time job? Paying off student loans stinks, especially at the interest rate you're looking at. I have one, but if you think I can make enough to feed myself (I'm off the meal plan because it saves me money in the long run) and pay off 6-7 thousand dollar loans, and take 15-16 credits, it's just not going to happen. My job takes care of day to day expenses and food, and I really don't make enough to pay off the interest, let alone start saving up for when I have to pay them off for real.