2 answers
1
Asked 594 views

Why is it so confusing getting student loan information?

I find a lot of information about why private student loans are the worst way to go to pay for school, but as the last of 8 kids in my family I need to pay my way through college. I received a good package from my school, but there is still a gap and it seems like no one from my financial aid office or on the web can give me good, concise information on how to find the best loans for young students who's parents cannnot cosign for them.
#studentloans, #finacialadvice #financialaid #privateloans

financialaid studentloans finacialadvice privateloans
Answer This

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you
1

2 answers

0
Updated
Share a link to this answer
Share a link to this answer

Oscar’s Answer

Your financial aid office should be able to give you options for federal student loans. Usually if you qualify for pell-grants, then you also qualify for federal student loans. Something you must understand is that depending on the loan, the loan could accrue interest while you are in school and don't have to pay it yet. Usually you start you repaying process after 6 months of graduating from college.
0
0
Updated
Share a link to this answer
Share a link to this answer

Shumon’s Answer

Hi, Aubrey. Yes, I agree the information out there to best pay for college in terms of loans is quite nebulous. Have you already looked at the federal aid that can be used (FAFSA)? This will help determine what kind of Stafford loans, Pell Grant, and or work study programs are available for you. The private loans are something to only have at a last resort since the interest rates are much higher and the servicers of such private loans are not as lenient on forbearance, deferment, and loan forgiveness as the federal student loans.
0