Whats a good place to get a loan for a college student?

[Beattie]

Originally posted by: Kazaam
What i need it for is paying for my off campus housing and utilities

Ah, so what you really want is not a loan, but a job.

 

[sjwaste]

Originally posted by: Kazaam
so a subsidized loan is better than a private loan?

they're actually both through sallie mae. What i need it for is paying for my off campus housing and utilities, fafsa loans and grants didnt give me enough for that...is a subsidized loan only for school?

You maxed out your federal aid, then? OK, I'm in law school, so this happens to me from time to time as well

First thing to look at is a PLUS loan. For an undergrad, your parents will have to actually take out that loan for you. But it usually runs a lower interest rate than private and has most of the other benefits.

If they can't or won't, private is your only choice. Shop around, some rates are lower than others. I got mine from Northstar, but I've since paid it off so I'm not sure what it looks like these days.

If you haven't already, though, go to the school's financial aid office and ask this same question. They'll give you a better explanation.

 

[ManBearPig]

Ok, i'll def. go ask the financial aid office, thanks guys.

Last question...i was in the process of making a private loan, and it said i was eligible with a cosigner. So i was waiting for a co-signer, and i never actually got a loan (it was all last night, within like 20 minutes of each other), and i asked you guys if i should get a subsidized loan. I just went and canceled my loan.

Is it bad that i canceled it? It wont hurt my credit score or anything, will it? I never actually got money so i thought i was fine.

thanks!!

 

[Born2bwire]

If you've drawn all your FASFA aid, I would get a job to make up the difference.

EDIT: To clarify, you need around $2K, that's like $250 take home a month for the normal school session. You can get that easy by being a part time worker for the school as a tech guy or in the cafeteria. Cafeteria was nice because we also got a free meal with our shift and only worked about two hours a shift. As a Junior, you'll be able to draw more money in loans so if you're able to keep your expenditures fairly constant then this may not be a problem next year.