Can someone please help me with college loan questions?
I’m a senior and looking into colleges. There is this great college I would like to go to and it’s 50,000 a year. I plan on getting a phd. I am VERY concerned about money. My parents are more than likely not going to give me much support. I found a site where you can borrow 250,000 over the course of 5 years and it is not federally run. [The site is thinkfinancial.com and was suggested in another question about student loans]. Are there any major risks involved with getting a loan from a site not federally regulated such as this one. I also will be applying for financial aid and many scholarships so 50,000 a year is just estimated without aid and grant taken from it. I have about a 3.8gpa as well.
Thanks in advance!
Kassy
50k sounds like a private college/university. Private schools have a lot of money that’s made available to them, through grants, endowments, etc. If your grades are good, you might be eligible for a lot of grants and such. I’m going to a public university and I’m getting money from grants I didn’t even sign up for. I get them because I did the FAFSA application and applied and got into the school.
Start looking into that school’s financial aid. Also, if you still need money, go for a subsidized/unsubsidized stafford loan. I don’t suggest a private loan unless you really have to.
