What are the odds of me getting a full student loan RIGHT after I get accepted into a community college?
Any kind of loans….private, public….etc
The amount of your student loan will depend on the information you submit on your FAFSA application. The main factor in determining the amount you will receive is your reported income to the IRS for the prior year. If you are still supported by your parents, their income may be considered also. The more money you made last year, the less likely you are to get federal loans.
There are two types of federal loans. Subsidized and unsubsidized. A subsidized loan means that the federal government will pay the interest of the loan for you. In this case, what you borrow is what you pay back. On the other hand, an unsubsidized loan means you will have to pay the interest yourself.
I’ve never ventured into the world of private loans. Although I’m sure they may benefit some people, I personally would prefer to borrow the least amount of money possible to get an education. Private companies are in it for the money, not to help you.
