Where can I get one? Is there any case in which I'd have to start paying it off right away? Will I pay only 7% interest, or are there any hidden fees? Any other tips? Thank you so much!
2006-07-20 15:45:25 · 6 answers · asked by dandelion86 2 in Business & Finance ➔ Personal Finance
If you are in the US, you just need to fill out a FAFSA online (I think it is at www.fafsa.gov). Then, have it sent to your college (the FAFSA will ask which college you want it sent to). They will package your loan package- it'll be based on financial need.
If you get unsubsidized loans from FAFSA aid (only given to the most needy people), the interest will not start accumulating until 6 months after graduation or 6 months after you drop below half-time enrollment. Otherwise, it'll collect interest while you are in school, but you won't have to make payments until 6 months after you graduate.
2006-07-20 15:49:16 · answer #1 · answered by Princess 5 · 0⤊ 0⤋
I'll tell you what you'll get -- years and years and years of loan payback for a degree that makes you 1/3 of the cost of a college education. Choose a school that has decent costs, work, pay for your education. This is a real life investment you will NOT regret. The student loan division can, if you do not repay them, attach wages and property WITHOUT a court order. Just like the IRS. Do you really want this thing living with you for years to come after you graduate, or heaven forbid, you DON'T?
2006-07-20 22:53:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The best source of info is to contact the Financial Aid office of whatever school you want to attend. They've got a wide variety of sources from which to choose. Some public and others private.
And if you're switching fields, are unemployed, or disabled, you might qualify for Worker Retraining or Disability, which go through separate offices.
2006-07-21 16:26:26 · answer #3 · answered by msoexpert 6 · 0⤊ 0⤋
The U.S. Department of Education has a lot of information for students about financial aid. You may want to check them out at the following site:
http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp
Hope this helps and good luck!
2006-07-20 22:54:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋
My advise, keep loans to a minimum. That interest is a real pain.
2006-07-21 00:24:18 · answer #5 · answered by Mike R 5 · 0⤊ 0⤋
ask the school financial aide, they will tell you all you need to know, and even some you don't want to know...i also heard that last year was the last year you could claim student loan payments as a deductible on your federal taxes thanks to you know who
2006-07-20 22:49:38 · answer #6 · answered by levity 3 · 0⤊ 0⤋