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Thread: Education loan?

  1. #1

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    I am looking for education loan for my kid bro,for a course of four years.I am supposed to start paying back only after he finishes his course.Won't that will make a lot of interest on the principal.Is it a good proposition to get the loan or should I arrange on my own?Kindly give your views on this.

  2. #2

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    Sanju, the quicker you pay back any loan, the better because it will rack up less interest. If you got the income to support, go for it. Making more than the minimum payments will not hurt either. g/l

  3. #3

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    Have you tried the Guaranteed Student Loan route? Have your brother talk to the financial aid officer in his school. There are lots of options for him. The interest rate will be less than if you tried to take out a conventional loan yourself.

  4. #4

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    Have you tried the Guaranteed Student Loan route
    This is correct! Take your kid bro into the college and talk to a financial aid advisor and they will help you select the best package or lender.

  5. #5

    Question Student Loan

    Hello Friends,

    I m student and i need student loan for study how can take loan for study plz suggest me

  6. #6

    Default Re: Student Loan

    You should apply with FAFSA. When you do apply they will see whether you qualify for a student loan, pell grant, or even both. Your going to need to provide certain information so they could see if you meet qualifications. In fact you could get the process started online.
    Here is the link:

    http://www.fafsa.ed.gov/

  7. #7

    Default Re: Student Loan

    If you are a Graduate Student and looking for an alternative loan, such as the Private Loans through Sallie Mae(mistake) or SunTrusts, or even some of the credit unions, those may reqire a co-signer. My loan didn't because I already had 10 years worth of history. Also your best bet will be to go through "fafsa.gov", so I agree with Cireone. Rockin35

  8. #8

    Default Re: Student Loan

    Yup. Just be sure to do the FAFSA before 1-June-09 to ensure being considered. Usually, schools prefer to have this done by 1-March of each year.

    You may also look into private loans as Cirone and Rockin said. CitiAssit and Chase offer them.

    Good luck.

  9. #9

    Default Re: Student Loan

    Quote Originally Posted by ramfinance View Post
    Hello Friends,

    I m student and i need student loan for study how can take loan for study plz suggest me
    Hi ramfinance, the members feedback above is excellent, also here is a few links to loook at in regards to student loans, provided by members who are currently receiving loans and need info about it.
    1. http://www.financeglobe.com/SocialNe...=student+loans
    2. http://www.financeglobe.com/SocialNe...read.php?t=535
    3. http://www.financeglobe.com/SocialNe...read.php?t=645
    4. Depending on your state, apply for Grants if you qualify http://www.csac.ca.gov/
    5. Here is a great article provided by our author Mary Tomkin's http://www.financeglobe.com/Finance/...ent/Page1.html

    One more thing, you should be able to get your info through your schools Financial Aid office. Schools offer different types of financial aid assistance according to their institution. Some may qualify you for 100% financial assistance, and some may not qualify you for 100%subsidize/unsubsidized loans. They will try and mix and match you with private loans to cover the full tuition, and I will tell you now, private loans are not as flexible as Federal Government loans, so follow the link to FAFSA that was provided by Cireone and make sure you read the Master Promissory Note! That is the contract to meet Satan if you don't obied by it

  10. #10

    Default Re: Education loan?

    5/11/2009

  11. #11

    Default Re: Education loan?

    I'm a little late posting on this thread, but if your going to take a loan out through the school, you would need to complete your FAFSA docs 1st before you can loan thru the school....

  12. #12

    Default Re: Education loan?

    You are correct. I do believe that the 09/10 needs to be filled out by July 09 (Well at least in Ca.)

  13. #13

    Default Re: Education loan?

    Try to collect some money while he is in the courses as opposed to waiting for him to finish, that way the interest rate will be lower and you won't have to worry about it as much.

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