A few days ago
lisha23346

I took out a student loan from studentloans.com. It says that the annual percentage rate is 11.152%…?

I’m wondering if that is good or bad. I need to take out more for this semester but am not sure if there is a better option. I am already taking money out from fafsa… but they don’t give me enough to even cover my tuition much less book and whatever else i may need. Please help, I dont want to make a bad decision.

Top 4 Answers
A few days ago
Elizabeth S

Favorite Answer

That is a horrible rate. Please contact your school for other loan options. I know Capital one, Chase,College Foundation, Bank of America, and Wachoiva all offer student loans. I’ve heard Sallie Mae can be a pain, but I would expect a loan amount of less than 7%.
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A few days ago
Victor A
That’s a really high interest rate…higher than most of my credit cards! Is it variable or fixed?

Make sure you use up your Federal Stafford Loan eligibility. All students are eligible for unsubsidized loans at 6.80% fixed (2007-2008) irrespective of family income or EFC.

For dependents, you are limited to $3,500 first-year, $4,500 second-year, $5,500 third- and subsequent years, with a $23,000 lifetime undergraduate cap.

Your parents should choose the Federal Parent PLUS Loans if that’s not enough. The rate through private lenders is 8.50% fixed and through the Direct Loan program is 7.90% (the one you get depends on the programs your school is part of). There are no caps on PLUS Loans, and the fees are about 3%. Repayment begins 60 days after disbursement, although many lenders are offering deferments and forbearances while the student is in school.

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A few days ago
Anonymous
The student loan interest rates have been lowered this past July. Check with the Department of Education.

http://www.salliemae.com ( For student loans)!!!!

http://www.iefa.org ——-> International Students on the web <---- http://www.about.com --->Great search engine and information site for everything <--- http://www.ed.gov/index.jhtml --> Dept. of Education for any questions<-- http://www.fastweb.com http://www.gocollege.com http://www.collegeboard.com http://www.scholarships.com http://www.walmartfoundation.org... Please go to the Department of Education for more help and a list of student loan foundations. I obtained these sites from my community college in which I attend. Good Luck!!!!

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A few days ago
Anonymous
too bad that you already took out the loan. that is a high interest rate, I would never pay that much for interest on anything these days.
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