I am a senior in college. I have never taken out any loans so I dont know how. My parents are taking care of my tuition but how can I get a loan that will cover my rent and a computer for school? Do most student loans go directly to the University?
2006-07-24 04:55:41 · 2 answers · asked by whatswrongwithme 2 in Education & Reference ➔ Financial Aid
I had two loans- A Federal Perkins loan.. and I forget the other. Talk to the financial people at your school they'll be able to help you out.
How mine worked is the money went to the college, then what was leftover was given to me in a check.
You can also get student loans through financial institutes other than the government- such as CitiBank or Wells Fargo, etc.
http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp is the site for federal student aid. It never hurts to apply. You may just get free money from the government. If not, they'll definately let you know what it takes to get a loan.
Loans suck though. Try getting a scholarship first.
http://www.fastweb.com has tons of scholarships for just about anything. Duct Tape had this one that if you went to Prom wearing an outfit made of Duct Tape you got $2,000. lol
2006-07-24 05:01:19 · answer #1 · answered by rattlesnake71784 3 · 0⤊ 0⤋
1
2016-10-23 22:50:59 · answer #2 · answered by ? 3 · 0⤊ 0⤋
"Student" Loans go directly to the school. Maybe you can talk to your parents about using their money for the rent/computer and the loan (which you will be responsible to repay) for your tuition.
As a senior in college, (probably without a job or at least one that pays well) you will have a very hard time securing any other type of loan as you won't have any established credit. If your parents are completely unwilling (and use your best bargaining chips in this conversation...such as it will help me build good credit, I have good grades, etc.) You may want to get a credit card for the computer and get a part time job. I cannot stress enough the importance of paying your bills on time. If you can't swing one or the other you're just out of luck.
2006-07-24 05:05:46 · answer #3 · answered by jillymack06 3 · 0⤊ 0⤋
When you apply for the loan you will be asked information about the number of credits you are taking and living accomodations (on/off campus). The loan amount given to you will include tuition and/or living expenses (a standard set amount, about $1000-$2000/mo depends on where you go to school). You can then decide how much of that amount you want to keep (It is always better to apply for more than you will need.) The check will be issued to you through your university. Many loans need to be applied for months in advance. Go to the financial aid office of your school ASAP and tell them that you need a loan for living expenses only, they will be able to best help you. Other ideas: A credit card or personal loan from a bank could help you get the computer and a part-time job could cover your rent and food.
2006-07-24 05:13:26 · answer #4 · answered by Dr. R. 2 · 0⤊ 0⤋
You have two options:
Get a loan through the school or get a loan through a bank. I would HIGHLY recommend getting it through your school, because the terms are much more favorable.
Start by submitting a completed FAFSA form as soon as possible. Then call your school's financial aid office to determine what types of loans are available to you based on your FAFSA.
Most loans do go directly to your school, however anything left over is for you to use on miscellaneous school expenses. For example, my tuition each semester was around $7k, but I received ~$9k from financial aid. The school automatically applied $6,000 to my tuition and I would get the remaining $3000 for books and housing.
2006-07-24 05:04:10 · answer #5 · answered by hobo joe 3 · 0⤊ 0⤋
First and formost, go through the school first. Talk to your financial aid office to see if you can take out more amounts for living expenses.
There are also other types of loans called private student loans you can borrow from private companies such as Sallie Mae(www.salliemae.com). Though taking out private loans might require a credit check, so you might have to have good credit. If you do not have good credit or not have a credit history, get a co-signer(such as a parent, relative, friend) who has good credit history to cosign for you. Private loans usualy are paid directly to you and not through the school, so try it out. Banks also offer loans for students.
I don't recommend taking out loans from private companies since interest rates are skyrocketing, but if your financial aid cannot offer you anymore aid then I suggest applying for a private loan.
However, to be on the safe side, you can search for part-time job or apply for scholarships at www.fastweb.com so you don't have to worry about paying back huge amounts of student loans.
2006-07-24 06:22:09 · answer #6 · answered by Soficetica 2 · 0⤊ 0⤋
Just what have you been studying for three years that would leave you with this inability to solve a problem like this. I am not trying to be insulting I am truly stunned by your question. I would think the office on campus that says financial aid would be a good first stop.
2006-07-24 05:02:54 · answer #7 · answered by oldhippypaul 6 · 1⤊ 0⤋
I think a lot of what gets paid for is up to the university. The money typically goes there. You might talk to chase or citibank about their programs.
2006-07-24 04:58:40 · answer #8 · answered by Fantasy Girl 3 · 0⤊ 0⤋
the financial office at the school can help you with the loan, they get the money, and after tuition is paid they give you the balance... good luck...
2006-07-24 05:00:35 · answer #9 · answered by monie99701 4 · 0⤊ 0⤋
Go to your financial aid office they have the forms you to fill out it is very easy.
2006-07-24 04:59:25 · answer #10 · answered by mommyof2boys 2 · 0⤊ 0⤋