Student Loan Information: Grad School
Can anyone tell me about loans for it? I've been paying as I go so far, but if I go full-time next semester I can get a GTA position and have the rest paid for. I could be done by Dec, or May 08 at the latest. I'd just have to get living and school loans for this semester, which I don't think would be too bad. Any help is much appreciated.
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check out mohela 0 -
What questions do you have?
There are several different types of loans.
Stafford loans (government everyone is eligible amounts vary)
Perkins loans (government, based on need)
Private, example are banks, other companies
School loans
Home equity school loans
Grad student loans from both private and the government
Depending on how much you need. You will qualify for a government loan if you fill out a FASFA. Just search FASFA on google and got to the FASFA website. Your college financial aid department can also help you, but doing it online is much quicker.
As far as private loans, interest rates are very touchy right now. There are lots of companies that give out private loans. The company that mine are through is Sallie Mae. They are basically a middle man. They get loans from banks, but your loan account is with them. It makes it really easy to pay. Even though I have several loans through different financial institutions, I only have to pay Sallie Mae. Consolidation was also as simple as a mouse click.
Currently my private loans interest rate is around 7.5% and government is at 6.25%. Some schools also give out their own loans. My wife has two loans through Purdue for example. My Perkins loan is actually through Purdue.
You can get both deferred payment loans or loans that you start to pay on right away. Deferred payment loans very in grace period time from 6 months to 1 year after you graduate.0 -
I looked on KSU's webpage, but not a lot of help. I say interest rates from 5% to about 7.5%. I'm looking for loans that will take care of tuition, plus living expenses like rent, bills etc. I don't have that many bills, just power and the necessities. I doubt I'd qualify for any government grants or loans at the graduate level. 0 -
Well, GTA class doesn't start until Fall semester. So, looks like part-time grad student and full-time employee still. [xx(] 0 -
quote:Originally posted by Aspen79se
I doubt I'd qualify for any government grants or loans at the graduate level.
Grants no, perkins loans no, stafford loans yes. Stafford loans are available to everyone that fills out a FASFA no matter what your income level is. They will either be subsidized or unsubsidized depending on your need. That just means that the interest rate will be different, but YOU WILL qualify.
Heres the break down
http://www.staffordloan.com/stafford-loan-info/graduate-stafford-loan.php0 -
Thanks for that link. I'll check it out tomorrow night, or on one of my days off. 0 -
Also remember that you can get private loans with good credit. Your school should have a listed of institutions that loan students money there. 0 -
Use caution with those loans or you may have that blue hippo of yours in hock for the next twenty years. 0 -
In your position I'd take a leave of absence from school until the assistantship comes through and finish one semester later. Why pay for grad school when grad school will pay for you?
I'm assuming your GTA comes with both tuition waiver and stipend, btw.0 -
quote:Originally posted by spurgemastur
In your position I'd take a leave of absence from school until the assistantship comes through and finish one semester later. Why pay for grad school when grad school will pay for you?
I'm assuming your GTA comes with both tuition waiver and stipend, btw.
Yes. I want to get this masters done, so I'll probaly do the six hour semester again.
Kristov: I'm very consious of the loan amounts I take out. That's why I only planned it for 1 semester. Hock my hippo? Never! Do you know what would happen to him in there? Nothing good.0
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