Grad Plus Loan vs Private Loans - page 2
Any advice on which is better option? I know the obvious lower interest rate for private loan and no origination fee. But wondering if there is something else I might have missed. Also, does anybody know if the public service... Read More
- 0Jun 6, '13 by missnurse01Marco I hear that is a problem with some schools! Many schools divide the courses so you still have full time hours between lecture and clinical. I believe your program is entirely front loaded and you don't pay tuition after the first year? So you are mainly needing living expenses and clinical fees? I can't quite remember. I would guess your fellow students are taking out max the first year so they have a cushion the rest...
- 0Jun 7, '13 by detroitdanoQuote from marco346When do your front loaded courses start? If it's before August/September, you can still file for financial aid for summer 2013, which is a separate school year. It might not be the $20,500 Stafford you get for a full year, but should be something to help bank for later on.For a front loaded program, isn't the only option private loans after the first year? I was told I couldn't qualify for federal loans since I wasn't "technically" a full time student.
- 0Jun 8, '13 by marco346Hi missnurse, my program is entirely front loaded the first year. And you r right about needing a loan for living expenses n some clinical fees.
Detroitdano, my program began this past may. And I did get a summer loan as well. So far, Ive been able to work 1-2 twelve-hour shifts per week. So I've been banking that income and trying to stretch every dollar as far as it'll allow. I fear I may run in to problems next year borrowing since its gonna b based on credit score
- 0Jun 15, '13 by IcySageNurseEveryone considering private loans:
I highly recommend a CREDIT UNION! Any other place, such as Sallie Mae or a bank, are FOR PROFIT. Credit unions are not for profit, so they are much easier to work with.
I have a private loan with a credit union - my repayment is up to 25 years if I choose, and I have an interest rate of 4%. No other fees, and they have always been extremely friendly and helpful.
- 0Jun 16, '13 by IcySageNurseQuote from marco346I used an "okay" cosigner, and I myself had limited credit, and I was still approved for up to like 60K if needed.Icysagenurse, are they really tough on credit score? How about a co-signer? I've heard some ppl comment on here about having problems event with an excellent co-signer.