student loans...

[stu-unger]

i have been lucky up till this point and have not needed to take out any loans, but that is not the case at this point in time. i wont be getting any more grants/scholarships until next fall, and am going to be needing some financial assistants for this year. i know very little about student loans except for the fact that the interest rate was raised as of july 1st. i am going to need to take out ~10k and need the loan to be deferred until after graduation. what route should i take? federal? private? any help or information that cant be found w/ a simple google search would be greatly appreciated...

[Acehawk74]

Federal stafford loans are perfect for you.

There are two types of loans, subsidized, and unsubsidized.

Subsidized loans, the government pays the interest that accrues on your balance while you are in school.

Unsubsidized loans, you are responsible for the interest that accrues while you are in school, but you can defer the interest payments until you graduate. You can choose your option when you sign what is called a Master Promissory note.

Rates are determined by the market in general, and vary. Once you graduate, make sure to consolidate your student loans.

Additionally, make sure when you fill out your FAFSA that you use accurate information, and that you do not make a mistake. If you have to correct something, you will likely be selected for a process called verification, which will require you to fax in a copy of your tax return, and fill out a worksheet. It can be a painful process. Also, you may be eligible for pell grants, depending on your income, household size, and other factors.

At your school, go see your Financial Aid Office. PM me for more details if you want, I work as a new entry Financial Aid Officer for students.

The best thing is, these loans are guaranteed, and are not credit based. However, if you need for any reason to obtain additonal funds, check with your Financial aid office, and they will be able to assist you with it. Additional funds will likely be signature loans, which are credit based.

Hope this helps!

[FortFun]

This is the webiste you need. http://www.fafsa.ed.gov/ It is where you will fill out all of your finacial information and they will send it to the school(s) of your choice.

[stu-unger]

ya thanx for the help u guys, but i am already aware of this stuff. i have had to fill out fafsa/hope every year. the problem is my family makes too much money for me to get any assistance all of the sudden.

i should have clarified. i dont think i can recieve any assistance that is need based. i still need to take out around 10k for expenses. is there any federal loans that are not need based, and if not what are the best places to get private loans from. sally mae is where i have been looking, but any other sites or info would be greatly appreciated...

[Hey_Porter]

Why are you still a dependent?

[mmbt0ne]

[ QUOTE ]
Why are you still a dependent?

[/ QUOTE ]

Probably because not everyone's parents hate them.

[Hey_Porter]

Riiiiggghhhhttt.