Grad School Loan Replacement

[Stiganator]

I recall someone mentioning you are "awarded" Stafford Loans each year in grad school.

You still have to apply for the FAFSA though right?

Does that still apply for Science/Tech where you are being paid to go?

I want to pay off my crappy private loans with the Stafford ones, just need make sure I will have access to them.

 

[Eeezee]

Yes, you need to apply for the FAFSA each year in order to qualify for Stafford Loans. They are need based, so they'll only let you borrow so much. Don't plan on being able to pay off all of your old student loans with Stafford loans, but it can lessen the blow from interest.

I'm at grad school now (Physics) and qualify each year for a few grand in Stafford Loans. I don't take them only because I don't need them; but if I had student loans that were collecting interest, that might be a good way to reduce some of that.

 

[Stiganator]

I hope I get a bunch this year, my EFC is only $68, so as you can see, I'm quite poor as a first year independent in grad school.

 

[Tiamat]

Originally posted by: Stiganator
I recall someone mentioning you are "awarded" Stafford Loans each year in grad school.

You still have to apply for the FAFSA though right?

Does that still apply for Science/Tech where you are being paid to go?

I want to pay off my crappy private loans with the Stafford ones, just need make sure I will have access to them.

Yes you need FAFSA. I have a Stipend, and i just put the Stafford loans i was "awarded" into ING CD. After my degree, Ill just give the loans back and keep the interest, or pay off the loans slowly while using the full amount towards a car or house payment.

 

[Parasitic]

Originally posted by: Tiamat

Originally posted by: Stiganator
I recall someone mentioning you are "awarded" Stafford Loans each year in grad school.

You still have to apply for the FAFSA though right?

Does that still apply for Science/Tech where you are being paid to go?

I want to pay off my crappy private loans with the Stafford ones, just need make sure I will have access to them.

Yes you need FAFSA. I have a Stipend, and i just put the Stafford loans i was "awarded" into ING CD. After my degree, Ill just give the loans back and keep the interest, or pay off the loans slowly while using the full amount towards a car or house payment.

What kind of rates are you offered at Stafford loans? Looks likes quite a good investment.