Money for College

[Squantum]

Re: Money for College

What about a Perkins loan? See here:

http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/federal_student_loans/perkins_loans/

Perkins money is lent out by the school. Basically, she should appeal her financial aid package, saying she needs more money and inquiring about a Perkins. Interest rate is 5% and it does not require a co-signer.

She should also keep looking for jobs. Sometimes students quit as the semester goes on and they realize they have less free time than they need/want.

[rduell]

Re: Money for College

What about a Perkins loan? See here:

http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/federal_student_loans/perkins_loans/

Perkins money is lent out by the school. Basically, she should appeal her financial aid package, saying she needs more money and inquiring about a Perkins. Interest rate is 5% and it does not require a co-signer.

She should also keep looking for jobs. Sometimes students quit as the semester goes on and they realize they have less free time than they need/want.

Thank you, Squantum. I passed that link on to her this morning and also a link to MSN Money about loans for college. Hopefully something will work out for her.

[boefixepa]

Re: Money for College

I was able to get loans at 22-23 without a cosigner. They were subsidized Stafford Loans and I did have to fill out all kinds of financial papers and parents income did have to be under a certain amount. The best resource would probably be to talk to a higher financail aid officer at her school and ask her what your options are.

[Squantum]

Re: Money for College

Her daughter already has subsidized Stafford loans. She could try to get unsubsidized Stafford loans, too. But interest on those starts to accumualte right away. Interest on subsidized Stafford loans and Perkins loans are on hold while you're in school, and for a few month (6-9 mo) grace period afterward.