Better to get student loan or financial aid loans?
I have enough financial aid with the loans they offered me to cover my upcoming year of college. But that includes like 3 different types of loans: Perkins Federal Loan, Unsubsidized Federal Stafford Loan, and Subsidized Stafford Loan.
Would it be better to just use all of these loans offered, or to get a student loan through Wellsfargo or TCF?
My main thing is, with the Unsubsidized Stafford loan, the interest accumulates immediately at 6.8%, you cant defer payments til after school. So would it be better to use that through financial aid or get a student loan?
I meant you can’t defer the interest til after school
Private loans from banks are going to usually have much higher interest rates than federal loans. Also, you may find with the financial issues going on in the world today that it can be very difficult to even obtain a private loan. You will have to have very very good credit, a co-signer with very very good credit and a bank willing to even extend themselves for student loans. Many banks just aren’t loaning for this right now.
