LOANS !, i need help. i dunno anything. |
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 Apr 27 2008, 12:30 AM
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#1
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 cheeeesy like theres no tomorrow  Group: Member Posts: 3,316 Joined: Aug 2004 Member No: 37,142  |
So i got accepted into the school i wanted (FIT @ nyc) and i need help looking for loans, i dont know that much about them and i am the only child so my parents never dealt with educational loans.
Can someone help me. I filed my fafsa but my parents make enough, so fafsa didnt give us anything. but i havent gotten my award letter from my school so i dont know what my school is going to offer me. so far all i know is that there are two types of loans, federal loans and private loans. but i dunno which one to do yet? i am still doing research but any help that anybody could give me would be greatly appreciated. THANKS! |
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Apr 27 2008, 12:39 AM
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#2
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 Senior Member Group: Staff Alumni Posts: 3,645 Joined: Feb 2004 Member No: 4,975 |
I get offered loans through my school so I am assuming it's federal loans. The good thing about mine is that it's subsidized, meaning I don't have to begin paying them back until six months after I graduate. There are also unsubsidized loans, for people who make more money I guess, that you would have to start paying back right away.
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Apr 27 2008, 12:42 AM
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#3
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cheeeesy like theres no tomorrow Group: Member Posts: 3,316 Joined: Aug 2004 Member No: 37,142 |
QUOTE(Elba @ Apr 27 2008, 01:39 AM)  I get offered loans through my school so I am assuming it's federal loans. The good thing about mine is that it's subsidized, meaning I don't have to begin paying them back until six months after I graduate. There are also unsubsidized loans, for people who make more money I guess, that you would have to start paying back right away. ohh yea i read about them too. they are apart of the stafford loans, and under that you can get a subsidized and unsubsidized loan. So how did you set up your loan? like through your school? or did you have to go to a bank? |
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Apr 27 2008, 12:46 AM
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#4
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Senior Member Group: Staff Alumni Posts: 3,645 Joined: Feb 2004 Member No: 4,975 |
Through my school's website. I just went to the financial aid section, logged in, and there I can see how much I am awarded from grants. If I want to take out a loan in addition to the grants, there's a little section for that and with a few clicks I get a loan. It's really easy for me, but am sure it is different for other schools. Does your school have a page for financial aid?
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Apr 27 2008, 12:49 AM
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#5
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Senior Member Group: Staff Alumni Posts: 3,645 Joined: Feb 2004 Member No: 4,975 |
http://www.fitnyc.edu/aspx/Content.aspx?me...ackage#stafford
If that's your school's website, it looks like you would get the loans through them. |
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Apr 27 2008, 12:57 AM
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#6
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cheeeesy like theres no tomorrow Group: Member Posts: 3,316 Joined: Aug 2004 Member No: 37,142 |
i looked through that page a bazillion times today and for some reason i never clicked on the lender links lol. well there i go. haha thanks.
the only thing i need help with is knowing which one i should get. |
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Apr 27 2008, 12:59 AM
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#7
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Senior Member Group: Staff Alumni Posts: 3,645 Joined: Feb 2004 Member No: 4,975 |
Correction on unsubsidized loans. You don't have to pay those back until after you graduate also, however you'll be getting charged interest while in school.
I'm sure they'll tell you if you qualify for the unsubsidized or subsidized loan. Hopefully you get the subsidized one. |
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Apr 27 2008, 01:23 PM
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#8
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 Sing to Me Group: Member Posts: 1,825 Joined: Apr 2004 Member No: 10,808 |
Wait until your get your award letter. My family wasn't happy with my grant-vs-loan ratio so we appealed my awards. I got my grants bumped up by $2000.
A lot of schools also have random scholarships that award very low GPAs. You might also want to check those out. Because loans might be a quick fix but they are a pain in the backside for the next like 40 years. |
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Apr 27 2008, 05:53 PM
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#9
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cheeeesy like theres no tomorrow Group: Member Posts: 3,316 Joined: Aug 2004 Member No: 37,142 |
QUOTE(Comptine @ Apr 27 2008, 02:23 PM) Wait until your get your award letter. My family wasn't happy with my grant-vs-loan ratio so we appealed my awards. I got my grants bumped up by $2000. A lot of schools also have random scholarships that award very low GPAs. You might also want to check those out. Because loans might be a quick fix but they are a pain in the backside for the next like 40 years. what do you mean appealed? like you negotiated it with your college to make it lower? yea i should get my award letter in a couple of weeks. |
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Apr 28 2008, 07:09 PM
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#10
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Sing to Me Group: Member Posts: 1,825 Joined: Apr 2004 Member No: 10,808 |
Yup. If you're unhappy with your package, you can send in a letter explaining why and what needs to be adjusted. Not very reliable but keep it in mind.
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Apr 28 2008, 07:42 PM
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#11
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 yan lin♥ Group: Staff Alumni Posts: 14,129 Joined: Apr 2004 Member No: 13,627 |
QUOTE(Comptine @ Apr 28 2008, 02:23 AM) A lot of schools also have random scholarships that award very low GPAs. You might also want to check those out. Because loans might be a quick fix but they are a pain in the backside for the next like 40 years. wait what? why would they award very low gpas? |
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Apr 29 2008, 12:19 AM
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#12
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Sing to Me Group: Member Posts: 1,825 Joined: Apr 2004 Member No: 10,808 |
It's not a lot but my university has scholarships where the minimum GPA is like 2.3.
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Apr 30 2008, 07:57 PM
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#13
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 The Illustrious Mari C. Group: Member Posts: 586 Joined: Jul 2004 Member No: 26,671 |
QUOTE(misoshiru @ Apr 28 2008, 08:42 PM) wait what? why would they award very low gpas? a lot of scholarships are out there like that; it all varies...usually the minimum I've come across was 2.5.; I don't see a problem with it because either way you still have to apply, write an essay or whatever and everything is judged against other applicants; so there's no guarantee for anyone unless you're just that exceptional |
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