Student Loans??

[Sailing2Smth]

Just curious how do student loans work? where to apply and whats the qualifying terms in order to get one?

i will be attending school this fall and more than likely i will have to get one for the first year that i am there, any info is appreciated, thanks!!!

 

[94FiveOhCOBRA]

they are good i got them. The school you are going to attend will give you all the info on them and the Where, What, When, How and what you need to do. Atleast KSU helped me on them. Did you fill out eh FASFA form?? yet....the deadline for my school was March 1st. I got a loan from Direct Loans its goverment run...and i had to get a PLUS loan that was taken out by parents since i wasn't eligible for much, cuz i was a lazy ass and waited too long to apply for schooling.

Here is goverment website for Direct Loans

Direct Loans

This one the Government website for all the info you should need:

Financial Aid Website

you could do a search on yahoo for "student loans" and find most of the websites from there as well

 

[Ripper]

Talk with a Counselar. Since I was a middle class whit kid under 25 with no kids and a more than minumum wage job I didn't get any financial aid at all.. Yet a black lady who didn't even know what Windows was got to go for free. ! ? (At ITT Tech BTW.) I took a loan out with Key bank at 6% at 15,000 for 10 years. I really have no clue how the qualifying terms work.. I really wish I knew. Some of the differant options where that you would pay a small percentage through school. Then pay increases after you get out ? Also, have you looked into the GI Bill. Like I said I got mine through key education resources.. All the loans that I applied for where all 10 - 12 % or more.. And that was with a cosigner. I applied with Key and they gave me 6% with no co signers. http://www.key.com/templates/t-ps2.jhtml?nodeID=H-1.3

Here It Is..

 

[Sailing2Smth]

yes i do have the GI Bill and the Navy College Fund...basically it all equates to a little over $1800 per month for 36 months. PER MONTH...and thats the thing thats going to kill me because they do it monthly and not in a lump sum.

so if i can have the first year paid off with student loans, and save the money that i would be getting from Veterans Affairs during that time, i think that it would come out better b/c i would be ahead.

but thanks for info so far guys, keep it coming!!!!!

 

[zzzzzer]

Originally posted by Ripper
Yet a black lady who didn't even know what Windows was got to go for free. ! ? (At ITT Tech BTW.)

:rollseyes: Kinda reminds me of the time I walked into an establishment that had placed an ad for a job and they told me they weren't hiring, yet the white guy that came in a few minutes after me was given an application to complete on the spot. How do I know? I went to school w/ the guy. I'm not flamin' ya', Rip, just pointing out that it works both ways, bro. Neither is fair, but life isn't fair either.

Sail, be sure to speak to the Veterans Affairs rep at the college. They'll file your military college benefits paperwork and will lead you to the financial aid office for additional assistance. Good luck.

 

[FordSVTFan]

Financial aid and student loans are based one of two main ways. The first is based on need. That is why you need to fill out the Financial Aid Form and send it in. They will determine your financial need. That will take into account the school cost, the type of studies and associated expenses, etc. Then they will determine how much you should pay of that and the rest can be made up of student loans.

The second type of loan is based solely on cost of education and your ability to obtain that credit. It is either going to be institutionally based or from a lending source. These types of loans are usually high interest and should be avoided.

The loans that you qualify for after receiving your eligibility from FAFSA will mostly be low interest loans, although some arent. So read the fine print. The GSL or Guaranteed Student loan is great as its rate is set and the interest is paid by the Govt while in school, so no accrued interest while in school.

There are also plenty of grants you may qualify for. Nothing better than free money for education.

But start with the financial aid form and let them determine your exact need.

Good Luck

 

[Ripper]

Originally posted by zzzzzer
:rollseyes: Kinda reminds me of the time I walked into an establishment that had placed an ad for a job and they told me they weren't hiring, yet the white guy that came in a few minutes after me was given an application to complete on the spot. How do I know? I went to school w/ the guy. I'm not flamin' ya', Rip, just pointing out that it works both ways, bro. Neither is fair, but life isn't fair either.

Sail, be sure to speak to the Veterans Affairs rep at the college. They'll file your military college benefits paperwork and will lead you to the financial aid office for additional assistance. Good luck.

No doubt man .. I understand 100 % sorry to have that tone... After I reread it... :beer:

 

[Sailing2Smth]

this is some really great info guys!! thanx, but i am thinking of going to NOVA (Northern Virginia Community College) for my first year. After talking with the counselor yesterday, if i just take general education classes (which i would have to my first 2 yrs anyway) they would all transfer over to GMU. Plus the community college is cheaper which is a plus in my case, and i REALLY don't want to pay out of state tuition to go to a VA school. that shit is expensive, whereas, if i just go to the community college i could establish residency in VA and pay in state tuition.

but its just the thought of getting out of the military and going to a community college, i dont know, maybe i am just being picky:shrug: :shrug:

 

[sohowcome]

I heard that this summers adjustment for consolidating student loans is going to have even better rates than are available now!!

 

[AlexB]

I'm pretty sure any one can get a student loan if they want to... should be no reason to get anything over like 1.25% APR -- even near 0 APR. I'm thinking of doing that to finance a new car.

 

[zzzzzer]

Originally posted by Ripper
No doubt man .. I understand 100 % sorry to have that tone... After I reread it... :beer:

Its definitely cool, bro. :beer: Sorry myself if I came across wrong w/ the whole " :rollseyes " -thing. Believe me, from what I've read we agree on a lot more things then we disagree on...lol

Sail, hitting NOVA first sounds like a great idea. And you'll love the tax credits you'll get for school. Considering your GI Bill and College Fund are non-taxable you'll be in a good situation. Best of luck w/ your studies (I'm wrapping mine up as well).