Student loans

Discussion in 'Community Discussion' started by TSE, Aug 3, 2014.

  1. TSE macrumors 68030

    Joined:
    Jun 25, 2007
    Location:
    St. Paul, Minnesota
    #1
    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?
     
  2. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #2
    I think some more information is needed. Do you have them, do you need them, etc.
     
  3. TSE thread starter macrumors 68030

    Joined:
    Jun 25, 2007
    Location:
    St. Paul, Minnesota
    #3
    I haven't had any before, and tuition is about 18k a year.
     
  4. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #4
    https://fafsa.ed.gov
     
  5. TSE thread starter macrumors 68030

    Joined:
    Jun 25, 2007
    Location:
    St. Paul, Minnesota
    #5
    I've submitted my fafsa. Are public loans usually better than private?
     
  6. malman89 macrumors 68000

    Joined:
    May 29, 2011
    Location:
    Michigan
    #6
    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.
     
  7. jbachandouris macrumors 601

    jbachandouris

    Joined:
    Aug 18, 2009
    Location:
    Upstate NY
    #7
    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.
     
  8. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #8
    Buy some lube, bend over and grab your ankles. It will be over 20 years after you graduate.

    15 years left on mine. They don't even have the common courtesy to give a reacharound.
     
  9. jav6454 macrumors P6

    jav6454

    Joined:
    Nov 14, 2007
    Location:
    1 Geostationary Tower Plaza
    #9
    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.
     
  10. TomHardyy macrumors newbie

    Joined:
    Aug 4, 2014
    #10
    There are different conditions on student loans which varies country to country. UK have some other conditions as compare to UK. You should approach to government's educational institutions and they will help you out in this regard
     
  11. ugahairydawgs macrumors 68020

    ugahairydawgs

    Joined:
    Jun 10, 2010
    #11
    Have you explored options for cash flowing this? That is a boat load of student loan debt to take on.
     
  12. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #12
    You may want to switch to a community college for a couple of years. Tuition is much lower than at regular universities.
     
  13. TSE thread starter macrumors 68030

    Joined:
    Jun 25, 2007
    Location:
    St. Paul, Minnesota
    #13
    I'm already going on my third year and am doing a program that isn't available instate or at a community college...
     
  14. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #14
    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!
     

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