Coming this Fall, I will be entering my last year of my undergraduate studies. Up until this point, my parents have been paying for my tuition. But, due to changes in their work environment (the company they work for is moving its operations out of the US), I'm going to have to take out a loan for my last year. Once I graduate next year, I plan on going back to school that coming Fall. While in graduate school, will I have to start paying back my loan taken for my last year of my undergraduates? Is there a loan that I can take out where I won't have to start repaying it until AFTER graduate school? My mom is going to be my cosigner and she has 'Excellent' credit.

Any student loan will be deferred as long as you are in school, including graduate school. So no, you will not have to begin making payments on your last year of undergraduate studies while still in graduate school.

It's my understanding that this is not necessarily true for all private loans, which seem to be what the OP is considering. Carefully read the terms of any loan you're considering. OP, have you submitted a FAFSA and exhausted federal aid? Everyone qualifies for at least unsubsidized Stafford loans, regardless of income.

You might want to read your school financial aid website. It will give you information on your cost of attendance, state grants and all types federal and private aid.

Thanks for the response! I'll have to contact private lenders seperately to make sure. And to Saria, yes, I've done FAFSA and am still in need of a private loan to cover the extra expenses.

That is a good point, and I should clarify that I was speaking only to Stafford loans (probably because no one would have given me a private loan ha ha).

After 6 years of graduate school, I can personally tell you it is in your best interest to become good friends with people in your financial aid office to the point they know you by first name.

I advise to avoid private loans, because the terms can be very shady and too much gray area to interpret.

If you're paying for your last year, have you looked into claiming yourself as a dependent. In other words, only report your income to the financial aid office. That can open a few more doors for you.

And in regards to graduate school, hunt down assistantships. Start looking now!!!!!!!!!!!!! Assistantships usually cover your tuition and offer a monthly stipend for the "assistance" you provide to your department of studies. Many are on a first come, first serve basis.