student loans
 

I was talking to my mom and she told me to try and get a student loan. The problem with that is I know NOTHING about them I was hoping somebody could shed some light on me. I would like to know anything and everything you know about student loans. Where to get them, for how much, interest rates, when do I have to pay back,? I'm clueless so anything helps. Thanks guys!

You should call your school first to see if you qualify for subsidized loans (lower interest rate).
Have you tried applying for financial aid? If you haven't, you definitely should try to because you might be able to get a majority of your tuition paid for via cal grants, etc.

I graduated last year. Will they still help me? And I did apply for FAFSA but I didn't qualify. Is there other financial aid I can apply for that you know of?

[QUOTE=iDriveMyi;3008374]I graduated last year. Will they still help me? And I did apply for FAFSA but I didn't qualify. Is there other financial aid I can apply for that you know of?[/QUOTE]

Oh, are you going for your masters? As far as i know, financial aid doesn't cover master's students. Your only choice might be to apply for scholarships and to take out loans. I'm not 100% about this though because I haven't looked into it, I've only heard about it through friends that are going after their MBA.

First and foremost you should fill out a Free Application for Federal Student Aid (FAFSA - found [URL="http://www.fafsa.ed.gov/"]here[/URL]). After you do that, you may qualify for a grant from the government to help with some of your expenses.

Depending on your school, if the FAFSA doesn't cover all of your scholastic expenses, they'll offer you a Federal Stafford Loan to help cover the rest. That loan is a subsidized loan with lower interest rates than you'll find if you were to approach a bank or other lending agency and they also do not require that you pay them back until down the road!

After you have exhausted those two options, you can then look into "educational loans" from many different lending agencies. Those loans will have rates that are higher than the Stafford and you will most likely need a cosigner to qualify.

If you want more info, hit up Google and look up anything similar to "student loan options," "student loans," etc...

Hope that helps some.

Haha, totally typed that while you guys posted...

No no no. I graduated High School last year. :) I'm starting my first semester in two weeks. Thanks for your help. Where do I get student loans? At my bank? or is there special places just for student loans?

Thanks you both. I will try and apply for FAFSA again, and a subsidized loan is from the government and will be alot lower rate then a bank?

I'll agree with above, start with the FAFSA. To answer yuor other question, all schools should have a financial advice office.

All the interest rates vary from each loan holder so look around. I just finished Wyotech and owe the school about 18/20k and I think one of the loans I have are a 8% interest rate and other is a 5/6% don't remember.

FAFSA should always be the first option to go with as if you get a subsidized loan, you don't have to start paying it back till after you stop going to school and the interest rates are better. You are too late to get FAFSA now, though I think you should be fine for this coming fall. I think the FAFSA for CA deadline is somewhere around early March. Also, as said before, go to your school financial aid office and they should be able to answer every question you have with a loan. I pretty much reiterated what other people are saying, but the financial counselors are generally good and knowledgeable and are willing to help you through the whole process.

Good luck with it!

Which college are you attending? Most schools have a financial aid office that can help you out. I would go talk to them, but they will probably tell you to fill out FAFSA, and through FAFSA, even though you don't qualify for Cal Grants (free money), you should be able to get loans through them.

i volunteer for a organization that does exactly this. i also worked in the fin aid office at SFSU. if you have questions, just PM me...

If you can, try to apply for Scholarships and Grants. You'd be surprised as to how many of them go unclaimed every year. It's essentially free money that you never have to pay back. Even small amounts help.

fafsa should work. it worked for me. i also got grants through them. just apply