I AM LOOKING INTO TAKING OUT A LOAN.
HOW WILL THAT INTERFERE WITH MY GRANT
IF IT INTERFERES AT ALL.
2006-10-30 05:35:18 · 4 answers · asked by Lil Bit 2 in Education & Reference ➔ Financial Aid
i dont think it should because it shows up as a debt against you, not as a form of income or funds available to you.
2006-10-30 05:40:18 · answer #1 · answered by Lek 6 · 2⤊ 0⤋
No, it won't. I got student loans and financial aid all through college, and it didn't affect anything. Mostly that's because federally-based financial aid is based on your income (or your parents' income if you're still a dependent), and student loan companies are privately-owned corporations who don't normally take your income or credit into account when they grant you a loan. I think it's a good idea, because student loans are the cheapest loans you'll ever find, with the lowest interest rates, and you don't have to start paying them back until 6 months after graduation. Even then, you can file for forbearance if you're still unable to start paying, which basically means that they are delaying the start of you paying them back while tacking on a little interest at the end. Just try to pay them off as soon as you can, because the interest does add up! I've been out of college for four years now, and my loans which originally came to about $10,000 are now at $13,000 with all the interest that's accrued from putting them on forbearance while I looked for a job. Good luck!
2006-10-30 13:46:28 · answer #2 · answered by fizzygurrl1980 7 · 1⤊ 0⤋
No, it does not interfere with your financial aid.
Here's some helpful websites for you:
http://www.salliemae.com ( For student loans)!!!!
http://www.iefa.org -------> International Students on the web <----
http://www.about.com --->Great search engine and information site for everything <---
http://www.ed.gov/index.jhtml --> Dept. of Education for any questions<--
http://www.fastweb.com
http://www.gocollege.com
http://www.collegeboard.com
http://www.scholarships.com
http://www.walmartfoundation.org
Please go to the Department of Education for more help and a list of student loan foundations.
Good Luck!
2006-11-01 18:02:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, not if you apply for a private student loan. www.Student-Loans.net has listed a directory of lenders offering private student loans. If you prefer to learn more or apply via the phone, call 1-888-816-5626.
2006-10-31 08:49:00 · answer #4 · answered by bluedevilstudent 2 · 1⤊ 0⤋