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What are the best loans to get for college?
I am planning on attending college in the fall as a freshman and would like to know what would be the best way to fund my education through loans. #student-loans #loans #financial-planning #college
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Oscar’s Answer
Welcome to the most beautiful and yet most difficult time of your life! College will teach you things about yourself that you didn't even know.
First, the best option for student loans is not get one. The reason why is because those student loans accrued interest while you are attending school. Usually you don't have to start repaying you student debt until after 6 months of graduating from college. So if it took you 6 years to finish college, then you have 6 years worth of interest on your student loan. You should try to seek for scholarships, and this is one of the main reasons that you should perform really well in school so that you can gave good grades and get full ride scholarships.
Now, let's say that student loans are your only way to pay for school. In this case I would recommend you to submit your FAFSA application to your school's financial aid office. and in college there are two types of loans from the federal government one is subsidized (meaning you don't accrue interest until after you graduate) and the other one is non-subsidized (meaning you accrue interest while in school before graduating). Also, only borrow for what you need for school. I would recommend you to only borrow for your tuition and books. If you can work while going to school and to provide for your daily needs like food, rent, etc, then that's great because you would save so much money than borrowing.
First, the best option for student loans is not get one. The reason why is because those student loans accrued interest while you are attending school. Usually you don't have to start repaying you student debt until after 6 months of graduating from college. So if it took you 6 years to finish college, then you have 6 years worth of interest on your student loan. You should try to seek for scholarships, and this is one of the main reasons that you should perform really well in school so that you can gave good grades and get full ride scholarships.
Now, let's say that student loans are your only way to pay for school. In this case I would recommend you to submit your FAFSA application to your school's financial aid office. and in college there are two types of loans from the federal government one is subsidized (meaning you don't accrue interest until after you graduate) and the other one is non-subsidized (meaning you accrue interest while in school before graduating). Also, only borrow for what you need for school. I would recommend you to only borrow for your tuition and books. If you can work while going to school and to provide for your daily needs like food, rent, etc, then that's great because you would save so much money than borrowing.