Loan to pay apartment rent while in college?
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If you do this you will end up paying back way more than you borrowed, unable to pay it off anywhere near quick enough due to interest rates etc and will end up blacklisted on your credit rating. Please listen to someone trying to save you a whole lotta heartache that will go on for YEARS.
After I got myself into Uni as a mature student (24) I did my degree over a longer period of time by taking less hours so I could GET A CASUAL / PART TIME JOB or two, and live very strictly on a budget to put myself through uni and share a crappy house with a flatmate.
As a result less than a few years after graduating I own my own home and other than that am pretty debt free. Before all this I got myself into all sorts of trouble taking out ‘loans’ and not getting ahead, just further in hell. It will get to the point where you don’t want to answer the phone because you already know who it is- the debt collectors.
Take my advice. I work for a bank.
Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn’t. If you find that you need more money then you are offered, you may want to try a private student loan.
The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestudentloans.phtml
Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.
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