Well, I've got two semesters left of school, and it appears that I'll be having to pay out of pocket. I've received an unsubsidized loan through the school, but I'd prefer not paying the 6.8% interest for the Stafford Loan. So I'm hoping someone will know of another option that may have a lower interest rate or deferrable principle and interest until after graduation. Any help is greatly appreciated.:sx:
I wish you have mentioned this a few years ago. I have a huge comprehensive list of non-traditional scholarships, grants and loans. It usually takes a full academic year to establish one of these. It will also take a good amount of research, providing letters of intent and transcripts etc. The other options that I am aware of through federal funding are typically need based: Subsidized Stafford loan, Perkins loan, Institutional funding through your school, work study, Pell Grant, Hope scholarship. Other non-traditional funding is: Home loan, cashing in stock, bonds, T bills or any investment you may hold. Last and most undesirable if you flat out own your Suby sell it and by a newer one at a low interest rate 0-5% you still take the big hit for depreciation if it is a 08-09. If you PM me your personal e-mail I will send you the list. It is a rather large PDF so clear out some space in your e-mail If any one else is interested in the list I can e-mail it to you. It applies to undergrad and grad resources.
Heh I wish there was a way I can get my wife's loans at a better interest rate. She has $50K to pay off.
Ouch.....yea I am in the same boat. Based on my research if she does a new loan she can re-consolidate the loans. I am doing this. Went back for my Ma and it is essentially free but I made a minimal loan. Once I finish and the loan goes into repayment I will re-consolidate. If Sallie Mae won't do it I will get another servicer to. They should re-negotiate the interest rate when they combine the loans. I am hoping the rate keeps dropping. They usually renegotiate mid-way between the current and the rate you're at. Otherwise there is always the multiple life time repayment plan:rofl:
After I complete my MA I am going back for my doctoral and time the classes so that I graduate when I'm 85. Once my loans go into repayment I will either be dead or too senile to realize how broke I am..................yeeeha!