Student Loans?

[xTrishaxLynnx]

I'm so confused that I'm not even sure what to ask...

I'm going to apply for federal aid, but I know it won't cover everything.

I haven't been able to find a local institution that offers student loans. Some said they approved me for a personal loan, but you can't defer payments til after graduation and the interest rate is around 12%. Plus, they wouldn't loan me anywhere near enough to cover school and housing.

My Dad mentioned something about guaranteed student loans and said that's what I'd probably want, but his explaination of it went right over my head.

I still don't know what to ask, besides... help? Please? lol

[Sojourner]

[quote name='xTrishaxLynnx' post='1829915' date='Apr 9 2009, 12:16 PM']I'm so confused that I'm not even sure what to ask...

I'm going to apply for federal aid, but I know it won't cover everything.

I haven't been able to find a local institution that offers student loans. Some said they approved me for a personal loan, but you can't defer payments til after graduation and the interest rate is around 12%. Plus, they wouldn't loan me anywhere near enough to cover school and housing.

My Dad mentioned something about guaranteed student loans and said that's what I'd probably want, but his explaination of it went right over my head.

I still don't know what to ask, besides... help? Please? lol[/quote]
When you apply for federal aid, you get information on both grants and loans, all from the federal government. For undergraduate, there are Pell Grants (that you don't have to pay back) and subsidized and unsubsidized student loans (Stafford, I believe they're called). Both of those are guaranteed by the government, but they are offered through private lenders.. They have low rates (about 6 percent) and they are deferred while you are in school. With a subsidized loan, the government pays interest while you are in school. With unsubsidized loans, they don't, but you can. If you don't, it's capitalized into the loan, so you end up paying interest on it.

Your parents (or you, if you are independent) can take out PLUS loans, which are at a higher rate and are slightly dependent on credit. I believe they are also guaranteed, to a certain extent. They can also be deferred, and you pay the interest on it. They have a higher interest than Stafford loans, but not as high as private loans.

You can also apply for aid through your state, in the form of grants. Or, you can apply for scholarships from private sources. Talk to your financial aid office about the latter option; they should be able to point you toward some sites that will be helpful.

[Brother Adam]

Ask your schools financial aid office. I worked for Franciscan's Financial Aid office for 2 years - there are private school loans, but use them as the very last resort. Stafford Loans are much more forgiving if you get into trouble with repayment. These private loans should be part of your financial aid package. IF they aren't there ask if you quality.

[dairygirl4u2c]

if ya have to get exorbitant rates to get a private loan to go to college, which is often for a lot of people, something is awry with the system.
education is a fundamental right.

with that said, there's something to be said about bucking up your own responsibility, and the government not throwing money at the situation. or they should even facilitate capitalism such that more community colege are made etc, or whatever.
there's more than one way to skin a cat.

this case, as always, indicates that we need smart and well balanced, reasoned, politicians.
not ideologues who says to hell with it all, laiseez faire all the way, or socialists.

[dairygirl4u2c]

deferrment by the way, doesn't make that 12% stop accruing. it just stops your requirement to have to pay.

[Nihil Obstat]

Look up as many scholarships as you possibly can!

[Brother Adam]

[quote name='dairygirl4u2c' post='1829988' date='Apr 9 2009, 04:26 PM']if ya have to get exorbitant rates to get a private loan to go to college, which is often for a lot of people, something is awry with the system.
education is a fundamental right.

with that said, there's something to be said about bucking up your own responsibility, and the government not throwing money at the situation. or they should even facilitate capitalism such that more community colege are made etc, or whatever.
there's more than one way to skin a cat.

this case, as always, indicates that we need smart and well balanced, reasoned, politicians.
not ideologues who says to hell with it all, laiseez faire all the way, or socialists.[/quote]

How is higher education a fundamental right and when did we get this mindset?

[Sojourner]

[quote name='Brother Adam' post='1830003' date='Apr 9 2009, 02:39 PM']How is higher education a fundamental right and when did we get this mindset?[/quote]
Exactly my question.

Higher education is not a right. It is an investment.

[Winchester]

Sell guns.

[ardillacid]

[quote name='Winchester' post='1830014' date='Apr 9 2009, 03:47 PM']Sell guns.[/quote]
drugs offer a wider variety of clientele

Mary J: sold with a handshake

Blow: Bidness done at gunpoint


Something for everyone

[Sojourner]

[quote name='Winchester' post='1830014' date='Apr 9 2009, 02:47 PM']Sell guns.[/quote]
As an aside, it's very hard to buy guns right now. I know a guy who is an FFL who says it's nearly impossible for him to get them. Apparently people are worried that there's a gun ban of some sort in the offing.

[dairygirl4u2c]

thinking about it, maybe it's not a fundamental right.

there is a right to a basic minimum if you're willing to work, and the ability to get to the point where you're able to raise a reasonable sized family. when the country is able to provide it and the only reason it doesn't is cause of the way the system is made.

you could probably reasonably get these things without an education, in college.

but, if the only way ya could reasonably get that ideal, is by college education, i would say it's a fundamental right.

also, there's a certain protectionist mindset, of the middle class, here. a reasonable family using reasonable standards, means middle class. if it's becoming rich v. poor, and the families are poor, and that's the norm, something is awry.
course, if things are that way just cause of bad economic times without the ability of the country to afford more, i might change my position even here.

also, it's got to be in a reasonable amount of time. this is the thing that would mostly make me question it, cause it could take a long time to do something so simple as raise a family w middle class standards. but i don't think it's teh norm or substantial minority anything, so. or at any case, most could do well w o college if they wanted to, i think?

i don't have enough info per econ standards, or conditions. but my sense is you can get those reasonably without education, so i think i'm withdrawing from statement a bit until i get harder data etc that shows otherwise.

Edited April 9, 2009 by dairygirl4u2c

[dairygirl4u2c]

i'd be more willing to say high school is fundamtal, but even then, m reasoning above applies.


on a side note, the supreme court said education is not a fundamental right, at any state.

[Sojourner]

[quote name='dairygirl4u2c' post='1830029' date='Apr 9 2009, 01:59 PM']thinking about it, maybe it's not a fundamental right.

there is a right to a basic minimum if you're willing to work, and the ability to get to the point where you're able to raise a reasonable sized family. when the country is able to provide it and the only reason it doesn't is cause of the way the system is made.

you could probably reasonably get these things without an education, in college.

but, if the only way ya could reasonably get that ideal, is by college education, i would say it's a fundamental right.

also, there's a certain protectionist mindset, of the middle class, here. a reasonable family using reasonable standards, means middle class. if it's becoming rich v. poor, and the families are poor, and that's the norm, something is awry.
course, if things are that way just cause of bad economic times without the ability of the country to afford more, i might change my position even here.

i don't have enough info per econ standards, or conditions. but my sense is you can get those reasonably without education, so i think i'm withdrawing from statement a bit until i get harder data etc that shows otherwise.[/quote]
Gosh, but this is refreshing. It's nice to see someone reconsider their position.

I think I agree with most of what you've said. Actually, I think that a college education is helpful but not necessary, if you are smart and hardworking (depending, of course, on the field you're wanting to enter). I know plenty of people who are far more successful than I who don't have degrees. And by far more, I mean living in million-dollar homes.

And honestly, one of the key phrases I keep hearing these days is "non-transferable jobs," that is, jobs that can't be exported to other countries. Those are jobs like electricians and plumbers and ditch-diggers and construction workers and semi-truck drivers. A huge chunk of those sorts of jobs don't require college-level education, although vocational-technical schooling can be helpful.

[Sojourner]

[quote name='dairygirl4u2c' post='1830033' date='Apr 9 2009, 02:01 PM']i'd be more willing to say high school is fundamtal, but even then, m reasoning above applies.


on a side note, the supreme court said education is not a fundamental right, at any state.[/quote]
Yes I think that's true about the Supreme Court.

And regarding high school, look at the Amish. True Amish communities pull their kids out of schooling at age 16, and then they're basically apprenticed with someone in the community. They learn a trade, which they then pursue so they can feed their families. It's not a glamorous lifestyle with lots of frills (clearly), but it can be quite fulfilling.