Well, time has come guys. Parents finally cut me off. One more step to manhood. I know absolutely nothing about these things. Where do I start?
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Student loans
- Thread starter TSE
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The game has changed significantly even since I graduated in 2011.
It's not just as simple as Federal/Public vs. Private, though. There's Federal Perkins Loans, Subsidized Stafford, and Unsubsidized Stafford for undergrad, each with their slightly treatment and regulations. On top of that, there's different programs for graduate programs. A more in-depth conversation on your exact situation is really reliant on your FAFSA results/university's financial aid offerings though.
Whatever you, be sure to only take out as little as necessary. No need to be saddled with more debt just because you didn't want to work part time during the school year. That'll hurt much more in the long run.
It's not just as simple as Federal/Public vs. Private, though. There's Federal Perkins Loans, Subsidized Stafford, and Unsubsidized Stafford for undergrad, each with their slightly treatment and regulations. On top of that, there's different programs for graduate programs. A more in-depth conversation on your exact situation is really reliant on your FAFSA results/university's financial aid offerings though.
Whatever you, be sure to only take out as little as necessary. No need to be saddled with more debt just because you didn't want to work part time during the school year. That'll hurt much more in the long run.
Do NOT get any private loans. Only public student loans can be deferred and their interest rates are usually much better.
If you have a private loan that you're paying back and you lose your job or need time off from payments, you no deferred payment options open to you.
Honestly, as someone with way too much student loan debt: try your hardest to limit how many loans you end up with. Try for as many grants and scholarships as you can and if you can handle work and school, I'd go that route.
Having a student loan(s) hanging over your head is NOT fun.
I laughed harder than I should.
Now, unto the OP. Is your college/university in-state or are you out-state? Try a public college/university that is in-state; more likely to get same type of education at a much smaller price tag.
Many people go for the out-of-state experience which is a huge financial burden. Take into account, "out of state" fee, room and board and other costs associated with moving there. In-state is always a better option.
Have you explored options for cash flowing this? That is a boat load of student loan debt to take on.
I'm already going on my third year and am doing a program that isn't available instate or at a community college...
I would certainly stick out your school and program. I was in your shoes and the program was only offered out of state. You have a financial office in your college, I'd almost guarantee it, so you should go talk to them. Start researching scholarships. Even if it is just a grand, it is free money. Look into things like scholarships for males taking baking classes and such. Obviously that is not the case but the point is there are creative ways to get free money. I did not do that and with death being really the only option out of the loans...it looks mighty fine some days!