Monday, October 26, 2009

Excuse my dumbness but can i apply for more than 1 student loan? and what are some good ones out the

Yes, as a matter of fact you can. You can go to the financial aid office of the college that you are going to attend/ or are attending at present and ask them for a list of lenders. On this list it will have the interest rates of the lenders, and the amount awarded if you qualify. There will be two types of loans, subsidized and unsubsidized. On the subsidized loan the interest is already paid upfront, unlike the unsubsidized loans. You can also get a private student loan that is not affiliated with the college, but most of those require a cosigner. I would say your best bet is to contact the financial aid office and pick thier brains. I hope this helps. :)



Excuse my dumbness but can i apply for more than 1 student loan? and what are some good ones out there?

You can, but please watch the amount of indebtedness you are incurring. Many students get into trouble this way. If you need loans beyond the federal loans offered as a result of filing the FAFSA then you should seriously consider seeing if your parents will borrow for you if you are dependent before looking for an alternative loan. You need to look at the terms of alternative loans very carefully as well, in terms of interest and length of repayment, since you cannot consolidate these with your federal loans either. They are separate payments when you are out of school.



Another option is to look for a lower cost school. It may not be your first choice school, but borrowing for a prestigious school may not be in your best interests either.

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