Student Loan Discussion

Question

I know this topic has been touched on in individual school's forums, but I wanted to start a discussion specific to student loans. How is everyone going about handling their student loans? Direct and PLUS loans all the way with their 7.9% fixed interest (yikes!)? Or are you finding alternative loans with reduced rates? Are you using a co-signer? Variable or fixed interest rates?

I went through the student loan process 5-6 years ago, but it seems a lot has changed. It used to be that the government loans were the way to go (I have a 3.0% fixed interest rate from those days), but now it seems as if the banks are offering better rates?

I would be interested in learning how others are approaching this hurdle. I just tried the SunTrust Academic Advantage variable interest rate loan without a co-signer and was offered an interest rate of 7.25% (SunTrust is my current bank so I went to them first). Should I re-try with a co-signer or go to a different bank? I decided to go at it alone, because I have very good established credit history, but that didn't seem to work.

eskimoroll · Answer

I ended up going with SallieMae with my wife as my co-signer. We both have excellent credit so we ended up with a much better rate than GradPlus although it is variable of course.

Fantods · Answer

I went a similar route, though I'm using a mix of SallieMae, with a cosigner, and Gov't loans just in case LIBOR skyrockets. The cosigner seemed to make all the difference. I have excellent credit as well, but my rate dropped about 3-4% when I added a cosigner.

bholakc · Answer

Hello! Genious!
 What is the maximum amount of loan a student can obtain to finance the business school? Well, I am planning to go For Hass Business School, University of California, Berkly. However, it requires nearby 100,000 dollar for a year. 
By that time, I will have PR. So, how much can be financed from different sources?

Please let me know!

Thanks

eskimoroll · Answer

The maximum amount you can loan is the published student budget by the university (which is typically pretty low). This is the case for both federal and private loans. If you don't have funds of your own to supplement that, you could take out a personal loan but those rates would be worse than educational loans.

alexbilly3 · Answer

If you want to get contact with lenders then you can find over internet.

alexbilly3 · Answer

Which subject is good for MBA??Finance/Marketing

alexbilly3 · Answer

what is federal loan? how can it be beneficial for students?

alexbilly3 · Answer

Student Loan Company = ripoff merchant scum

alexbilly3 · Answer

Loan is easy way to get further studies for weak students.

alexbilly3 · Answer

private student loans no cosigner

AlexaR · Answer

A cash advance can help you stay current on your student loan payments whenever you hit a bump in the financial road. Student loans are the ones that you need to make sure you pay off as fast as possible because you will be responsible for them no matter what. If you end up going bankrupt, like so many individuals are now doing due to outstanding debt, you cannot do away with school loans during it. Make sure you take care of them yourself.

roboas · Answer

Loans frusturate me.

RamakantPareek · Answer

A lot of Student Loan Options and Student Loan Schemes being offered by various Banks and Institutions. Documentation required for applying for a Student Loan and related information.

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novanative · Answer

I went with only federal loans, stafford and grad plus. Only the feds will offer income based repayment and other loan forgiveness options such as working in public service. Private loans don't do that.

I wanted to stay away from Sallie Mae at all costs, but ironically, Sallie is now servicing my federal student loans for the graduate level.

Student Loan Discussion

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