Might be going to school, do I use savings or loans?

[Mr. Roper]

I'm thinking about going to school to get a degree so I can get a better paying and more fulfilling job. But my question is this:

 

Would it be wiser to use my own money that I have in my savings to pay for school/books, etc or would it be smarter to get a school loan? I have no debt currently.

 

I have no idea how student loans work since I've never had one. I should have gone to college when I was younger.

[texastech97]

Between your two choices I would get a subsidized Stafford Loan if you qualify. I had pell grants (free money) and subsidized Stafford Federal Student Loans when I was in college. The loans are not due until after you fall below half time status at your school. The subsidized loans are interest free while you are still in school.

 

http://www.staffordloan.com/stafford-loan-...afford-loan.php

 

First look for grants and scholarships as they are free.

Edited July 11, 2007 by texastech97

[Mr. Roper]

Between your two choices I would get a subsidized Stafford Loan if you qualify. I had pell grants (free money) and subsidized Stafford Federal Student Loans when I was in college. The loans are not due until after you fall below half time status at your school. The subsidized loans are interest free while you are still in school.

 

http://www.staffordloan.com/stafford-loan-...afford-loan.php

 

First look for grants and scholarships as they are free.

 

Thanks for the info. Any idea where the best place is to look for grants and scholarships?

[texastech97]

Between your two choices I would get a subsidized Stafford Loan if you qualify. I had pell grants (free money) and subsidized Stafford Federal Student Loans when I was in college. The loans are not due until after you fall below half time status at your school. The subsidized loans are interest free while you are still in school.

 

http://www.staffordloan.com/stafford-loan-...afford-loan.php

 

First look for grants and scholarships as they are free.

 

Thanks for the info. Any idea where the best place is to look for grants and scholarships?

 

Try the Financial Aid office for the school you would like to attend. You usually have to apply far in advance as the free money goes quick.

[TJ Girl]

Your school's financial aid office is the best place to start.

You can also search for scholarships online at sites like fastweb.com where you can set up a profile and it matches scholarships to your criteria (age, associations you've been a member of, hobbies and interests, GPA, non-traditional status, geographic region, etc).