Student Loans?

summer_gphib · #1 08-07-2012, 03:03 PM

I know we've had threads on student loans in the past, but I was just wondering, now that we've had all the bank collapses and financial uproar, is it harder to get a student loan?

I'm thinking about going back to grad school. I graduated in 1999 with a perfectly useless degree in interdisciplinary studies, with focuses in history, poli sci, and public relations. I'm thinking about going after a masters in human resources. I'm thinking it would be better to get a student loan than using credit cards. I *think* it will end up costing me about $20k. I'm cringing at that. It also sucks because my husband has a good income (over 100k, but that doesn't seem as fabulous as I once thought it would be), and I wonder if that will count against us being able to qualify.

Neither one of us had student loans in college (we were very fortunate), so we know nothing. If you guys know any websites with info, I'd love it!

THANK YOU!!!

Kevin · #2 08-07-2012, 03:32 PM

You should probably be fine. Just fill out the FAFSA and see what happens.

AlwaysSAI · #3 08-07-2012, 08:03 PM

I am going back to graduate school in the fall. In fact, just moments prior to posting this, I completed the MPN for my first semester of loans. I'm going back part-time and am taking out $10,000 in loans this academic year.

The first thing you have to do is fill out the FAFSA. There is a priority FAFSA date (it was Feb. 1 this past year) which basically means--first come first serve. I don't know that anyone who completes the FAFSA late goes without loans but the loan amount is confirmed much later. (This happened to my sister one year.)

The one thing I DESPISE about the FAFSA is that you are required to report the total sum of all the money in your bank accounts the day you fill it out. As a teacher, who must save two months of salary every year because I don't get paid for two months, has to report that summer savings money to FAFSA even though every cent of it will be gone by the time the fall rolls around.

AGDee · #4 08-07-2012, 10:20 PM

You should be able to get Grad PLUS loans with that income if your credit is alright.

Yoquierotacobel · #5 08-08-2012, 12:03 AM

I'm not sure if we're allowed to post links but here I go:
-Fill out FAFSA
-Fill out CSS Profile
-Google "(insert your state) grants"

If you're looking for loans, you could apply for Federal Direct Graduate PLUS loan as well as any state loans.

Utilize all possible federal/state/university grants, loans and scholarships before turning to private loans or lenders or any loans period. If you do NEED a loan, look into Stafford loans(which would be Federal Direct Graduate PLUS) or any state education loans because they usually have a grace period like 6 months or so and come with lower interest.
I'll post links to sites to help you

Yoquierotacobel · #6 08-08-2012, 12:06 AM

FAFSA: http://www.fafsa.ed.gov/
CSS/Financial Aid Profile: https://profileonline.collegeboard.com/prf/index.jsp

For basic information on financial aid: https://bigfuture.collegeboard.org/pay-for-college
Just scroll over the "pay for college"

http://studentaid.ed.gov/types/loans...d-unsubsidized

summer_gphib · #7 08-08-2012, 07:37 AM

Thank you so much! My husband isn't 100 percent sold on student loans, especially since we do have some credit card debt, from Forrest's surgery and chemo. Our credit scores are both in the upper 700's. We spent about 35k, and put about 25k on our low interest (thank God) credit cards. We've paid off about half of it, with the remaining being on zero interest credit cards, and should be able to have that paid off by May of next year. He's like me to wait, then we could just pay cash for my education... but I'd like to start sooner than that. I'll show him these websites and give him this info tonight!