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# Student Loan Discussion

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Intern
Status: Can't wait!
Joined: 07 Jan 2011
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Schools: Wharton Class of 2013

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21 Jun 2011, 07:57
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.

Last edited by gtgator03 on 21 Jun 2011, 11:33, edited 1 time in total.

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Manager
Joined: 23 Sep 2010
Posts: 234

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Location: United States (MN)
Concentration: Entrepreneurship, Marketing
Schools: Harvard Business School - Class of 2013
GMAT 1: 750 Q48 V45
GPA: 3.67
WE: Supply Chain Management (Consumer Products)

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21 Jun 2011, 10:24
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.
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Intern
Joined: 09 Dec 2010
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Schools: Wharton - W/L, Booth - admit, Kellogg - matriculating, NYU - Withdrawl, Columbia - Withdrawl

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22 Jun 2011, 06:03
eskimoroll wrote:
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.

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.

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Manager
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02 Sep 2011, 07:49
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?

Thanks

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Manager
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Location: United States (MN)
Concentration: Entrepreneurship, Marketing
Schools: Harvard Business School - Class of 2013
GMAT 1: 750 Q48 V45
GPA: 3.67
WE: Supply Chain Management (Consumer Products)

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02 Sep 2011, 09:05
bholakc wrote:
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?

Thanks

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.
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Intern
Joined: 13 Feb 2012
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13 Feb 2012, 05:10
If you want to get contact with lenders then you can find over internet.

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Intern
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13 Feb 2012, 05:12
Which subject is good for MBA??Finance/Marketing

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Intern
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13 Feb 2012, 05:15
what is federal loan? how can it be beneficial for students?

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Intern
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13 Feb 2012, 05:17
Student Loan Company = ripoff merchant scum

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13 Feb 2012, 05:19
Loan is easy way to get further studies for weak students.

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13 Feb 2012, 05:20
private student loans no cosigner

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07 Mar 2012, 22:06
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.

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Intern
Joined: 22 Dec 2011
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Concentration: Entrepreneurship
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26 May 2012, 07:37
Loans frusturate me.

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21 Aug 2012, 00:11
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.

cbse schools in jaipur | cbse school jaipur | cbse school in jaipur

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Senior Manager
Status: schools I listed were for the evening programs, not FT
Joined: 16 Aug 2011
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29 Aug 2012, 05:03
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.

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Re: Student Loan Discussion   [#permalink] 29 Aug 2012, 05:03
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