private student loans?

Question

I'm a full-time college student recieving, PELL, TAP, & Stafford loans but I still fall short. My parents can't afford to take out a parent loan for me, nor can they pay any of my college costs. So I have a signature student loan from Sallie Mae, but after the school takes their cut, I'm still falling short and with a field studies trip next semester I'm worried about money for the next semester.

Can someone recommend me another alternative for more cash so I can pay any possible unforeseen costs (my car is about to go). I was looking into private student loan alternatives, but the interest rates seem OUTRAGEOUS.

What are my options, I am looking to borrow ~$3000.

I am already working work study. I have student loans because working full time around here really isn't an option other than walmart and even working at walmart 40 hours a week (although I know I wouldn't get that many hours) would only get $200/week and with the effect on the grades I have I'm not going to risk it. I'm going to attempt to get a job on the weekends in addition to my work study, but I know that I won't be making enough to cover those expenses. I also didn't ask for people to tell me what a bad idea it is, I know it isn't that great of an idea, I asked what provider was best, or I should have. I asked around and was told that the best way to go about it was through bank of america.

Answer 1

Not only are private student loan rates outrgaeous, but a private student loan CAN NOT be discharged in a bankruptcy. The debt stays with you forever. Don't do it. Many full-time students have worked part time jobs successfully and kept up their studies. Put your nose to the grindstone and work your way through and out of your difficulties. Don't take out a private student loan.

Answer 2

I agree, don't take out a private student loan, esp considering you have the federal Stafford loans already. Get a job, or add more hours on to your work schedule, find a cheaper school or.... drop the field studies trip for one you only have to pay tuition and fees for unless it is ABSOLUTELY required to graduate. Loans are a necessary evil, and use them if you must (like I did) but don't take out more than the government maximums.

They are there for a reason.

Answer 3

You could look into the Army National Guard or Reserves. They not only pay your tuition, but you also get to pocket your GI Bill and drill pay ($500/month for 1606 GIB and drill pay depending on rank) while in drill status (one weekend per month). There is alot of money to be made in enlistment bonuses as well, some up to $20,000, that is right 4 zeros. It is a great way to serve your country, and if you know what you are doing you can make the military pay off for you. They also have many options that will pay off student loans. I have not paid for one credit hour. Good luck.

Answer 4

Though there are options for uncertified loans, stay away from them!!! They will cost you dearly in the long run. Also, the Sallie Mae Signature loan has some of the highest rates and fees. Wachovia and Citibank offer MUCH better rates and NO fees.

Answer 5

hi how are you? nicely the 1st difficulty you're able to do is word for scholarships and aspects. it is because of the fact they are the two supplies of unfastened college money that would not would desire to be paid decrease back. student loans could be final on the record if she would be able to't get a scholarship or furnish. you may consult with my supplies for added information approximately scholarships, aspects and student loans. good good fortune.

Answer 6

why not a Federal student loan? enjoy this article if you want: steps for getting a FEDERAL college loan:
http://all-student-loan-consolidation.blogspot.com/2007/11/steps-for-getting-federal-college-loan.html