What do I need to ask the lender if loans student loan?
I have received Stafford loans, but not enough. I’m in the process of seeking a private student loan and do not know how to deal with it. What should I ask lenders what is a good interest rate? How much should I apply? How can I get the money? Tips, advice would be appreciated. Thank you.
March 7th, 2010 at 8:29 am
always say please and thankyou. little words get far lol.
March 7th, 2010 at 9:28 am
the interest rate would be the most important question for me. also when do you begin to pay. what will the amount of monthly payments be?
March 7th, 2010 at 10:03 am
Just apply and answer their questions. Pretty simple process.
March 7th, 2010 at 10:06 am
6% is good… not likely, but good. Ask them if the interest is deferred until graduation. Ask them if there is also a deferrment in payment for at least 6 months after graduation. Borrow only as much as needed to cover tuition, then get a part time job for other expenses. Don’t go overboard. Also, look into Scholarships and Grants…
http://www.fafsa.ed.gov should help out too…
March 7th, 2010 at 10:19 am
http://www.finaid.org
March 7th, 2010 at 10:49 am
This website has information about student loans such as current rates and comparision charts and anything else you might want to know.
March 7th, 2010 at 11:26 am
Borrow the minimum and get a job. When it comes time to pay it back, you’ll be thankful that you did. Compare the interest rate to your stafford loans. Check our DirectLoans, they’re government-backed. You can check with your school for a list of preferred lenders, but that doesn’t necessarily mean they’re the cheapest or the best. They should send the money directly to your school, who will ensure your bill is paid, then give the money to you. Make sure you save copies of all promissory notes you sign, copies of checks if possible, etc. Keep track of how many disbursments you have (every check is a disbursement). Down the road, if you have to request a deferment or forebearance, don’t assume you’ll get it just because you asked. Keep documentation of your approval. Also, DON’T default on a student loan! Read your promissory note. If you default, the balance in full is due, and you can lose your tax refund, have your wages garnished, etc.
March 7th, 2010 at 12:13 pm
Go to your financial aid office and ask who they recommend. What fees!!! They can get you.