Remaining options...

[Dipset]

Hi everyone, I just got accepted into a 4 year university from a 2 year community college. I filled out my fafsa and have been awarded my financial aid. I received a state need grant and a federal direct subsidized staffor loan of 2850 for the school year. I want to get a loan of about $25,000 but I am not planning on using it for educational purposes. What are my options besides private loans? Can I get more federal student loans? I would need the entire sum of the loan right away.

[LynnInMN]

Hi everyone, I just got accepted into a 4 year university from a 2 year community college. I filled out my fafsa and have been awarded my financial aid. I received a state need grant and a federal direct subsidized staffor loan of 2850 for the school year. I want to get a loan of about $25,000 but I am not planning on using it for educational purposes. What are my options besides private loans? Can I get more federal student loans? I would need the entire sum of the loan right away.

 

How about going to a bank and borrowing the $25k like other people? Technically what you are talking about it called fraud.

[Dipset]

Are all student loans distributed in portions? Or only federal student loans? I would go to the bank but I want to be able to start paying after I graduate or when I graduate... not right away.

[aluminumfalcon]

technically you could be eligible for more federal student loans, however none will get you anywhere near $25,000. further, you have to meet certain elgibility requirements with regard to dependency status and coa.

 

if you are looking for $25k, I would suggest opening a line of credit through your bank -- because a private loan, with a likely hight rate, is your only other option, and again they will take into account other financial aid and coa.

[Dipset]

Ok, so I guess the only other options I have is to take out a credit line from the bank or a private loan from somewhere like astrive, or studentloans or some other company. Can anyone suggest a company that they have had good experiences with or know for a fact they have lower rates? It would save me the time of applying to numerous different companies! THANKS!

[Dipset]

Bump!???? Anyone?

[LynnInMN]

Your interest rate will completely depend on your credit and if you have a cosigner.

 

Read thru the forum. There are some good posts and opinions of private lenders.

 

Borrow wisely and as little as possible. Read some of the nightmares.