Ok. I just applied for a loan thro Sallie Mae, first off they only awarded me $12,000 of the $24,000 I asked for. Yesterday I got my documents to sign and review and after reading it I don't know if I want to do it. It says, $12,000 for the loan, $700 loan fees, $22,000 finance charges for a grand total of $34,000 to be paid back. OMG, $34,000 on a $12,000 loan. I feel so shot down right now, there are only 5 weeks until school now. I just want to cry! Has anyone else experienced such a thing?
Asherah, BSN, RN
786 Posts
I have a Stafford loan from my previous Bachelor's (that is now handled by SM) that I consolidated at 3.37%, thankfully!