11.06.09 | Private Student Loans Hold No Restrictions
If I had a dime every time I heard someone say, “I need more funds for school,” I would easily be able to send my entire family to Harvard…TWICE. It’s just the way it is these days. We’re turning over those stones, calling our rich uncle, and exhausting every avenue we know of to find those extra dollars. Perhaps that classic Ben Franklin quote which reads, “The only thing in life that is certain is death and taxes,” should be amended to include running out of money for school. But there is hope. Private student loans do not have a yearly borrowing cap like federal Stafford loans do.
Now let me first start off by saying that federal Stafford loans are the bomb. Max those out first. The problem, however, is that there isn’t much to max out. Depending on your grade level you are capped at a certain borrowing threshold. Is it just me or does that sound absurd? In fact, let me just go on record now and say that I think that is the lamest rule I have ever heard! The cost of tuition is the same for a freshman as it is for a junior! Why the disparity?!? Ok, that is a different blog for a different day. Back to private student loans. Private student loans allow you to fill in the gap that federal loans leave, and that gap is extremely wide for some.
There is no FAFSA when you apply for a private student loan and no hassles whatsoever. You can use your loan funds for tuition, room and board, a new laptop, you name it (assuming it is school related of course). So don’t be discouraged. There are options right at your finger tips.
APPLY FOR A PRIVATE STUDENT LOAN
Scholarship Points code: NOHANDS4U
The Student Loan Help blog is sponsored in part by:
thanxx wil keep in mind!!!!
November 6th, 2009 | #
Cool stuff gled i know now.
November 6th, 2009 | #
I see your point, but could not loans be dangerous?
November 7th, 2009 | #
i’m not crazy about loans. it feels like debt looming over my head.
November 7th, 2009 | #
You can pay your student loan consolidation at any time without the risk of prepayment penalties. I strongly recommend the payment of the consolidation loan as quickly as possible to avoid some of the interest and to facilitate the financial burden as soon as possible. Just make sure that when making additional payments per month to inform you that the lender should take the additional amount for the principle of the loan as future payments.
November 8th, 2009 | #
Its easy to apply for a scholarship thanks to this website.
November 8th, 2009 | #
Everyone should apply for everything they believe they can get, some student loans are great but FAFSA can determine whether a person really can afford to go to the college of their choice.
There really isn’t that big of a hassle, unless your lazy.
November 8th, 2009 | #
good article.
November 8th, 2009 | #
Interesting article. Will be able to use this information in the future.
November 8th, 2009 | #
i will be able to used this information throughout my life and to teach others
November 9th, 2009 | #
This a good article. I had no idea about those type of loans.
November 9th, 2009 | #
This is an informative article.
November 9th, 2009 | #
This is a good suggestion, but I think I’ll stick with what I have now
November 9th, 2009 | #
Good thought.
November 10th, 2009 | #
I never thought of private loans as a possiblity before.
November 10th, 2009 | #
This is a great thing to keep in mind. I will definitely check them out!
November 10th, 2009 | #
This sounds good, i will keep these ideas in mind. This article really helped me understand private loans.
November 10th, 2009 | #
Thanks for the great advice… I may need one soon…
November 10th, 2009 | #
thanks for the great advice, i may need one soon
November 10th, 2009 | #
What great information! Some great suggestions to keep in mind!
November 10th, 2009 | #
thanks
November 11th, 2009 | #
goooood stuff
)
November 11th, 2009 | #
Very good info. Will surely keep that in mind!
November 12th, 2009 | #
i didnt know much of this information thanks!
November 12th, 2009 | #
That is a goood thing to know! I didn’t know the difference between them!
November 12th, 2009 | #
This is helpful, but I’d rather get scholarships and grants.
November 12th, 2009 | #
Good to know.
November 13th, 2009 | #
sounds really helpful. I didn’t know that there was a differences.
November 14th, 2009 | #
wow this was really good to read and will help me
November 14th, 2009 | #
i like this article. i didn’t know there were different types of loans.
November 14th, 2009 | #
This answered a lot of questions I had about loans. Thanks!
November 15th, 2009 | #
I agree with Kendra. Although I’m sure a lot of my funding will come in loans, grants and scholarships are nicer because you don’t have to pay them back!
November 15th, 2009 | #
wow yes this was very informative
November 16th, 2009 | #
wow, awesome! does this mean you don’t have to qualify for tons of fin aid to get the loans? because i don’t qaulify for alot of loans but i need them baaaaaaaaaad
November 16th, 2009 | #
Very good information here. I’ll keep that in mind.
November 17th, 2009 | #