How do student loans work 10pts!!!!!!!?

Question

Im wanting to attend westwood, an online university, its like 37k for three years. Anyways, Can a student 18yrs+ take the loans themselves or just the parents?

Do the loans cover all tuition or part? Do you start paying loans back after graduation or while still in school?

Which is the best company to go through for a student loan?

10pts!!!

Answer 1

There are a billion companies out there. The best way to start is to just talk to the school's financial aid department and see what they can direct you to. If you can qualify for gov't subsidized loans, that's the best (interest is better cuz the gov't pays for part of it).

If you're 18, you can get a loan yourself. However, you won't have much credit so your parents may be asked to cosign (or you have to find someone to cosign).

You want to find enough loans to pay as much as possible. If you have the credit, you can get enough to pay more than the tuition. There's also living expenses and things like that. That's pretty expensive tuition, so you may have to get loans from more than one bank.

Answer 2

You should look into scholarships and the schools financial aid 1st. Loans obviously have to be paid back,usually starting 6 months after graduating. Yes, it can cover the whole tuition but you should apply each year for exactly what you need only. Unless you have a really good job & or credit of your own your parents usually have to co-sign for you but not always. I hope this helps. Your parents also have to file a FAFSA to determine what you can expect to get based on need. You then have FAFSA send the school an award letter. Also, if you are married or have a child you qualify as an independent student and do not need to have your parents apply. Hope this helps!!!

Answer 3

College loans are applied through by filling out a FAFSA form and submitting it to the school. The school will determine, based on need, whether you qualify for grants, and a mixture of subsidized or unsubsidized loans. Subsidized loans are loans that the federal government pays for the interest. Sallie Mae is very easy to deal with for loans. There are student loans and parent loans. Depending on what your parents are willing to do it can be a mixture or one to the exclusion of the other.