Can part time students get student loans?

[alkemyst]

Originally posted by: pray4mojo
If you're saving so much money and seem to have the potential to make so much, why get loans in the first place?

borrowing at 4% interest or less?

 

[SilentZero]

Yes you can. My wife gets one and shes only taking 7 credit hours this semester. She gets the stafford loan at 4.7%.

 

[dugweb]

so, as long as you are in school, the stafford loan doesn't incur interest and you don't have to make a payment on it.

Do I have that right?

 

[alkemyst]

Originally posted by: dugweb
so, as long as you are in school, the stafford loan doesn't incur interest and you don't have to make a payment on it.

Do I have that right?

Subsitized Staffords incur interest, but that interest is paid by the gov.

Unsubitized Staffords incur interest that is recapitalized on the loan.

Neither start repayment until after full-time status is lost. There may be exceptions for part-time.

 

[eflat]

Originally posted by: FoBoT
you have to be at least half time, so i guess 6 semester credits per semester

at least it used to be that way, check the web site

http://www.collegeanswer.com/paying/content/pay_under_fed.jsp

says (at least for one type of loan) "undergraduate student enrolled in school at least half time."

To end this thread on a happy and informative note, as of 10/21/2005 one only needs to be enrolled in six units to be eligable for student loans.

Unfortunately they are not going to give me much until I turn 25 :frown: