I have about 25k in student loans that I have accumulated over the years. In my state they will repay your loans if you are a teacher, social worker, and police officer, and nurse. I am a semester away from getting my bachelors in psychology, but wanting to get a masters in social work. My question is should I start repaying my loans now, or should I wait until after I graduate? I want to start a fund for my son school, and want to know what is the best one to do or a mutual fund?
2007-12-15 04:37:00 · 2 answers · asked by curt 1 in Education & Reference ➔ Financial Aid
You would be better off to defer payment (especially if you can get into a loan repayment program) and set up a 529 (tax free) account for your son. There are many out there, meet with a financial consultant at your current bank.
DA
2007-12-15 05:38:23 · answer #1 · answered by Dr_Adventure 7 · 1⤊ 0⤋
The best thing to do is start applying for graduate school because it will defer your student loans until you graduate with your masters degree. The Pell Grant does not exist on the graduate school level, but colleges do offer help in the form of scholarships and graduate assistant positions in a variety of capacities on campus. If you plan on taking time off from school and work, look for agencies that will help you repay the student loans because not all of them participate in the program. Also, do not consolidate your student loans because some programs will not let your student loans be forgiven. I will include some free readings below. Good luck!
2007-12-15 14:29:13 · answer #2 · answered by dawncs 7 · 0⤊ 0⤋