ok so i've filled out my FAFSA, it's been processed, been accepted at my school, now im wondering...do i apply for private student loans first or federal loans? what's the order?
i need like 15, 000 for my first year.
Federal loans...private student loans?
Private loans are evil and should never be taken out.. high interest rates, substandard terms, extra fees, cosigners and credit checks will be required.
Federal loans have the better interest rates, less fees, and sometimes the government will pay the interest while you are in school. If the school you are attending is so high you can't pay it with scholarships, federal loans, grants, work study, and such then find a better school with a better financial aid package. (Less debt).
Good luck.
Federal loans...private student loans?
first get all the grants your qualified for... like pell grant or calgrant(in california only) then they will calculate all your school costs then subtract all grants... the remaining can be aquired through federal loan, this is the stafford loan... stafford loan ranges form 2500-5500 only depending on your college level and for first yr i think the limit is 2500, then i will try to get info on how to get the perkins loan... if they allow you to get that then get that... then the last resort should be the private loans... most likely you will still need a private loan but get all federal loans maximized first then get private loan
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