do u HAVE TO take out a stafford loan when ure a freshman to qualify for the sophmore rate next year?

Question

might be a silly question but i want to make sure

Answer 1

No, you don't. When it comes to the Stafford/FDSL loan, the rate and amount that one can request is based upon your lender and classification at your institution. Some student elect to continue with the same lender each yeah, where others shop around for the best APR. No question is a dumb one, only the one that's NOT asked is dumb...