Advice for someone getting your student loan first?
I’m new to a person newly financially independent. I am in nursing school and the need for a student loan for the following terms. What are the steps / processes, always a student loan. What should I know? Any tips, advice and information is appreciated.
March 6th, 2010 at 1:57 am
Isn’t there a pell grant that’s free money that you don’t have to pay back? I would do that instead of a loan! Interest rates are way too high and they try to suck you in so please be very careful! Good luck with nursing school!
March 6th, 2010 at 2:50 am
Don’t do it.
March 6th, 2010 at 3:04 am
Make sure your fafsa is filled out correctly. Apply for every scholarship you can…go to fastweb.com wiredscholar.com and brokescholar.com they are wonderful scholarship websites. Talk to your financial aid department. ask about school scholarships that they have and other options. THEN, apply for loans, go for government loans first, they generally have lower interest rates and don’t require a cosigner. Then, if you still need more money after the government loans research private banks very well, what are their interest rates? Rate of payments, can you defer your payments? How long will you be making payments? Take this all into consideration, talk to your parents or another adult and see which loan would be best for you before you sign any promissory note.
March 6th, 2010 at 3:57 am
Hi..there Pls read below before you getting your 1st student loan:
Federal Student Loan is the most common college student loan. There are mainly two kinds of federal student loans i.e. subsidized and unsubsidized.
Subsidized college student loan: Government pays the interest whilst the student is attending the college.
Unsubsidized college student loan: there is no interest free period and you will have to pay the interest with principal amount, after completion of education.
Not all students qualify for a federal student loan. In case when students are unable to grab a federal
student loan, there is another kind of student loan known as private student loan.
More infomation from:
http://student-loan-consolidationrebate.blogspot.com/
March 6th, 2010 at 5:15 pm
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