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What is the best loan to take if my family doesn’t have much money? Should I take a subsidized or unsubsidized loan in addition to a private loan? What is a good interest rate for private loans?

Have never taken out a loan before. Family income is low to middle class.

college money finance student-loans tuition
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Nicolas’s Answer

I want to save you from the hardship and fretting! Always take out subsidized, but don't take out a loan if it's not absolutely required, especially if you don't have money first. I would recommend building your savings first or paying on payment plans while going to school part time and working part time or full time if you have that energy and ability. Being in debt is not Ok, especially when there's no guaranteed chance you'll pay it off. It will affect your housing, and ability to buy a car, and be a burden that most people can't handle themselves. I personally have done fine working part time jobs and going to school part time, sometimes working full time when school was out, and am not behind anyone. A matter of fact, only a select few are above this tortoise who are in the same age category. Remember, you will have letdowns and setbacks along the way so I wouldn't recommend you take on the challenge if you haven't been overacheiving for a very long and consistent period of time.

Nicolas recommends the following next steps:

Re evaluate your mindset
Work up a savings and then take the loan
Pay as you go
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TRAVIS’s Answer

See if you qualify for any Pell Grants. You dont have to pay those back.
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Stephanie LH’s Answer

To answer your question subsidized student loans are where the interest for the loan is paid by the Education Department of the Federal Government while the student is enrolled at least half time in college. Subsidized loans begin to add interest when the student enrollment drops below half time or upon graduation. Unsubsidized loans start accruing interest as soon as the loan is signed.
To the point of the other person's giving advice first apply for Federal Government and State aid with the Free Application for Federal Student Aid (FAFSA); then look for scholarships.

Stephanie LH recommends the following next steps:

FAFSA: Http://studentaid.gov
Scholarships.com
National Merit Scholarship: Http://national merit.org/s/1758/start.aspx?gid=2&pgid=61
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Stephanie LH’s Answer

To answer your question subsidized student loans are where the interest for the loan is paid by the Education Department of the Federal Government while the student is enrolled at least half time in college. Subsidized loans begin to add interest when the student enrollment drops below half time or upon graduation. Unsubsidized loans start accruing interest as soon as the loan is signed.
To the point of the other person's giving advice first apply for Federal Government and State aid with the Free Application for Federal Student Aid (FAFSA). This will show you all of the grant money (you do not have to pay back grant funding) for which you are eligible. Make sure to apply as soon as you can after you have already graduated or October 1st your highschool senior year from r maximum state funding (state funding is first eligible and requested, first received and runs out annually). Once you know your FAFSA financial aid package;
then look for scholarships.

Stephanie LH recommends the following next steps:

FAFSA: Http://studentaid.gov
Scholarships.com
National Merit Scholarship: Http://national merit.org/s/1758/start.aspx?gid=2&pgid=61
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Stephanie LH’s Answer

To answer your question, subsidized student loans are where the interest for the loan is paid by the Education Department of the Federal Government while the student is enrolled at least half time in college. Subsidized loans begin to add interest when the student enrollment drops below half time or upon graduation. Unsubsidized loans start accruing interest as soon as the loan is signed.
To the point of the other persons giving advice, first apply for Federal Government and State aid with the Free Application for Federal Student Aid (FAFSA). This will show you all of the grant money (you do not have to pay back grant funding) for which you are eligible. Make sure to apply as soon as you can after you have already graduated or October 1st your highschool senior year from r maximum state funding (state funding is first eligible and requested, first received and runs out annually). Once you know your FAFSA financial aid package;
then look for scholarships.

Stephanie LH recommends the following next steps:

FAFSA: Http://studentaid.gov
Scholarships.com
National Merit Scholarship: Http://national merit.org/s/1758/start.aspx?gid=2&pgid=61
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