The parent backed loan is a Parent Plus loan, it's a good option if your parents will go for it.
I wasn't suggesting you change schools, rather look into going to the much cheaper campus. When I changed from Lafayette to Indianapolis it wasn't a hassle at all. Granted that was years ago, but it would take 5 minutes to ask about it.
If everything else fails, there are always private loans.
You shouldn't have issues taking out subsidized Stafford loans, even with the financial fiasco the student loan industry is in currently. It's a low risk loan for lenders, so they're still lending large quantities of cash.
Sallie Mae for me!!Just payed off my loans today........after 15 years!!!Just had to share.Good luck!And I think a new school(cheaper)is ALWAYS an option.I know you say it isnt but 40000 a year is quite a bit.I am a nurse that works with nurses from many different educational backgrounds.We all do the same job, make the same money.....Some of us payed 10,000 for our education and some payed 100,000.There are so many college grads right now unable to find any employment.It would suck to be 100,000 in debt making min wage.
You shouldn't have issues taking out subsidized Stafford loans, even with the financial fiasco the student loan industry is in currently. It's a low risk loan for lenders, so they're still lending large quantities of cash.
You have to qualify for the subsidized. If you or your parents make too much money, you can borrow an unsubsidized one but there are limits to the amount.
You can get an unsubsidized stafford loan as well as other loans if your parents make too much. My husband paid for most of his law school with cash but had to take loans for stuff he couldn't cover immediately. Did you actually do a Fafsa? I thought that you needed to do that if you needed an unsubsidized loan.
i'll have to try the unsubsidized. and sally mae, i have a couple through them already- and yes i filled out the fasfa. but i dont qualify for a single dollar of aid. kinda sucks. thanks for all the ideas though,
Can you go to the Bank of Mom and Dad? And by this, I mean, talk to them, explain the situation, and see if they can borrow the money for you? You can make a legal agreement with them to repay the $$$ through a lawyer, so they will be assured that you are taking responsibility for this...
Just a thought...
Kira
if my parents had the money - they would pay for it. they make a lot on paper, but they owe more then they make in bills. and they have no credit to borrow anything.
I used campus door... www(dot)campusdoor(dot)com . They offer private loans and i got GREAT rates on mine- as low as 4% FIXED! some are as high as 10% but still it's a pretty good deal. The website has TONS of info on it... my parents had no money and i maxed out my government funding-- I did 10 semesters in 4 1/2 years and am now a whopping $60K in debt... ugh and i went to a public university IN STATE! Good luck and I hope you figure it out- i would switch to a cheaper school BUT i understand that it is NOT an option for you. I hope the best for you!
thanks! i will most def. check out campus door. i know im going to be in debt forever... but im hoping to attend law school and eventually make enough money to pay it all back. im about 30k in debt so far. i hav 2 yrs to go.
good luck w/law school... i remember the days i dreamt of going to law school-- i still do to this day but i dont have the grades to get accepted... i did Criminal justice administration in college and thought about going but i was told if you dont have a 3.9 or above gpa chances of getting in are slim to none... *squish* there went my dream.... oh well good luck to you! work hard for what you want and you will get there!
I think there might be a difference between minimum acceptable GPA and a competitive GPA. I know that, for my faculty, your application was tossed out if your GPA was less than 3.5, but the reality was that those who were accepted had a GPA of 3.8 or higher. Just another screening tool!!!
Kira
My husband went to law school but afterwards decided he didn't want to go into law (despite initially working for a good law firm). My brother in law, went to law school and did well, passed bar first time, etc etc and has been having trouble finding a full time job. He does side work here and there while maintaining a non law related job.
Unfortunately it doesn't seem as he is the exception. I've recently read stories that it is rough for lawyers out there because law firms have found it cheaper to hire out work than to hire full time lawyers. There are some instances (like patent law) which seem to be the exception but I've heard from so many entry-level lawyers that they can't find jobs.
Not to scare you but its just I've heard from so many of "if I only knew". My husband doesn't regret going to law school as he liked it and he was able to afford it.
im hoping by the time i finish law school the economy will be better, im only half way done with my first degree so it will be like five years before i graduate law school, i will be going into family law and helping with adoptions and divorces and foster homes.
I returned to school at 40 to pick up my elementary ed certification. I hesitated to do so because I have two other kids to send to college in about 10 years.
My loans are $36K - I qualified for bupkus free money but I did complete a FASFA and picked up an unsub. loan. I have dollars via Great Lakes and one other company that went bankrupt and now another company is servicing the loans. I am hoping they lose my stuff
You should talk to financial aid pronto - they want cash and will help you secure it. If Octomom can get a loan, you should be able to as well.
Last edited by Momofsteel; 06-08-2009 at 08:23 PM.
