College students: who here has gotten a school stafford loan?

[desiplaya4life]

i just got mine in the mail today, got it to pay a semister worth of hours off. and now im feeling worried. w/ WHAT IF's 🙁


who else here has or had a stafford loan while going to school?

 

[interchange]

Yes. Many. Paying them off right now.

Why are you worried about the loan? Interest rates? You can consolidate when you graduate.

Is the loan subsidized (great!) or unsubsidized?

 

[fbrdphreak]

Originally posted by: interchange
Yes. Many. Paying them off right now.

Why are you worried about the loan? Interest rates? You can consolidate when you graduate.

Is the loan subsidized (great!) or unsubsidized?

Same here

 

[desiplaya4life]

Originally posted by: interchange
Yes. Many. Paying them off right now.

Why are you worried about the loan? Interest rates? You can consolidate when you graduate.

Is the loan subsidized (great!) or unsubsidized?

subsidized


i dont know.. just the fact i never taken out a loan before.

 

[IMaN00BieGF]

Originally posted by: desiplaya4life
i just got mine in the mail today, got it to pay a semister worth of hours off. and now im feeling worried. w/ WHAT IF's 🙁


who else here has or had a stafford loan while going to school?

How long did it take you to get the loan in the mail after you applied?

 

[interchange]

Originally posted by: desiplaya4life

Originally posted by: interchange
Yes. Many. Paying them off right now.

Why are you worried about the loan? Interest rates? You can consolidate when you graduate.

Is the loan subsidized (great!) or unsubsidized?

subsidized


i dont know.. just the fact i never taken out a loan before.

It's subsidized! Here's what you do. You calculate how much money it would take to equal the loan amount after vesting in a 5-year CD. You take the loan. You put the money in the CD. You pay it off immediately upon your grace period ending (6 months after leaving school, generally). You just made however much would have vested in interest during that period.

 

[Mayfriday0529]

I have several loans... not paying anything at the moment.

 

[Fenixgoon]

IIRC, i have stafford, perkins, and parents PLUS

 

[JS80]

Originally posted by: desiplaya4life
i just got mine in the mail today, got it to pay a semister worth of hours off. and now im feeling worried. w/ WHAT IF's 🙁


who else here has or had a stafford loan while going to school?

you got in to collage?

 

[desiplaya4life]

its really funny people who just pick on spelling. but not that funny.



yea i was thinking of putting that money i received in a CD or ING direct but i the thing is i accepted the loan to pay my school tuition 🙁 soo yea..

 

[randomlinh]

uhh.. how exactly does using a CD work if you have to use the money to pay for school. Regardless, my school got the check first, I just got the leftovers. and mostly unsubsidized as well 🙁 Paying out the wazoo for school now over the next decade

 

[interchange]

Originally posted by: randomlinh
uhh.. how exactly does using a CD work if you have to use the money to pay for school. Regardless, my school got the check first, I just got the leftovers. and mostly unsubsidized as well 🙁 Paying out the wazoo for school now over the next decade

You don't put the loan money into a CD. You put your own money into a CD.

 

[daweeze02]

i went to consolidate my staffords loans this morning but from salliemae you have to have more than $5,000 in loans and since I have been paying on them for a year now I only have $4,800 out and now I cannot consolidate through saliemae

 

[interchange]

Bad time to consolidate anyway. Interest rates just went up. Should have done it by Jul 1.