try to get grants first before you go about getting a loan.. and get a loan for the minumum that you need.

You dont start paying off student loans until after you graduate and some give you 3 months to find a job, and when you get your first paycheck, it usually gets deducted or you have to start paying it yourself.

Make sure you are going to school for a productive career, something that you will enjoy doing and that you can have a successful career in.

Some people take out loans, and then end up quitting school, these are the people most likely that you have been talking to. Or those who went to school for a major, graduated and find a hard time getting a job. Or often those who got a major, and didnt like the job choices out there.

I lost my scholarship also, stupid mistake of mine, and plan on going back to school pretty soon.

Grants are money the government gives you that you do not have to pay back. Try getting as much as you can out of this first, then see how much you need to take out a loan for.

Best of wishes.

Ugh! I’ve been out of school for 10 years and I’m still paying off my loan. The problem is most people don’t land that wonderful job just after graduating that lets them make the large initial loan payment. It’s easy to get the payment lowered by consolidation and stretching out the time frame of the loan. That means you’ll be paying longer but the payment will be much less. Also you can write off the interest of the loan so that helps a little. At this point in my life I now have so many other monthly bills (mortgage, car etc) I can’t afford to shorten my payment period. I’ll be paying for another 5 years or so. I don’t know what you plan on borrowing- mine was about $25,000. Again, you can get your payment very low ( I only pay $109 a month) but in doing so you’ll be paying it off forever! Good luck. 🙂

My son will be attending Le Cordon Bleu in Orlando soon and we just got his student loan accepted for the first fiscal year for $29,000. This includes 12 months of rent at $449 a month, with three other roommates. His tuition is almost $40,000 for basically 12 months of school and a three month externship. The payment just on this loan portion is going to be $255 a month. Keep applying for other scholarships. If you received one, you can get more. Most likely you won’t qualify for a loan in your name alone and would benefit from having a co-signer for a lower interest rate. As for the length of the loan, a parent signature loan is for 10 years and a student loan goes for 15 years. Your school’s financial counselor should be able to provide you a list of sites you can apply for more scholarships. Yes school is expensive, but you’re learning something new that will get you a better paying job than if you just took the first job available to you because you weren’t qualified for anything else. Good luck.

Most people who are in big debt from student loans are the ones who buy plasma tv’s… If you get enough money to cover tuition and books, then that’s all you need. You can also do work study and possibly get grants too…

Go to your financial aid office and talk to them, they got all the answers.

yes, it is a bummer to take out student loans. BUT, education is so worth it!! Yes, you may have loans to pay back, but you should be able to make more money after your degree. If after you are in the payback part of your loan they do have hardship deferments.

Go for it and continue your education.

It normally takes 10 years to pay back – they won’t let you take longer. You can pay it down faster than that, but often the interest rates on student loans are so low that you won’t want to pay it off faster.