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 KillerPicklez
Garden Hands
 
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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 college loan help
#8560141 - 06/24/08 09:22 PM (3 months, 15 days ago) |
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im just getting ready to apply for my first semester of college student loans. I will be obtaining loans with no help from my family and need some advice from other students.
my total for the first semester came to 9,131$ which includes 2,000$ to pay off my credit card account. Now, do I apply for a new loan each semester or should I apply for a loan for the duration of the entire year?
What loan do I apply for? There are several types of loans, which is the most common? I was leaning towards the Federal Stafford Loan, subsidized.
Any help is greatly appreciated
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pblover456
Stranger
Registered: 07/07/08
Posts: 10
Last seen: 2 months, 1 day
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if you're hurting for money, and middle-lower class, apply for a grant, grants are nice, I'm putting myself through school with a grant right now.
if you cant get a grant, it depends on what type of job your going to goto school for, for example some employers will actually pay for everything you need for college but you have to work for them 1+ years when your out, not all but some will
if you cant get any grants or employers to put you through school, and you HAVE to get a loan, i would recommend picking up a job, and putting 80+% of your money into school(if you can) and get the smallest loan possible, you don't wanna be paying for loans the rest of your life =/
as far as loans, there really isnt a "most common" loan, the lowest interest rate and being able to pay once your out of college is the best to look at, i'm pretty sure most loan centers do 1 school year loans at a time.
i have grants and i still have a job for other stuff i may need
hope that helps a little bit
-pblover
Edited by pblover456 (07/08/08 08:30 AM)
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WornTraveler
Captain Cannabis
Registered: 06/15/08
Posts: 354
Last seen: 1 month, 9 days
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Re: college loan help [Re: pblover456]
#8608573 - 07/08/08 03:06 PM (3 months, 2 days ago) |
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The subsidized Stafford loan is great- you don't have to worry about interest building up and everything because you don't have to start paying it right away. Basically, you get "free money" for years, and only have to worry about paying it back once you're done with your degree.
I would honestly also go for the unsubsidized as well if you can get both. The unsubsidized is trickier because you have to start paying interest right away, but TBH it's negligible, you won't even miss the money. What I did was, I took the subsidized loan, and that including a lot of grant and scholarship money covered the basics: dorm, tuition, food, books. Then I took the unsubsidized as well, got 3.5k for the year from that, and managed to pay for my computer, and repairs for me motor scooter to get around town easier (great mileage btw, if you are looking for a college-friendly vehicle hehe), and then took the rest of the remaining loan and paid it back instantly.
It's working great for me so far. Also, the way it worked for me was I applied for the loan and got half the first semester, and half the second. I'm a first year student as well, in fact my loan payouts and everything just happened a few days ago, but I've got pretty much this entire term paid for now, with honestly minimal debt on my part. It's great knowing you don't have to worry about cash man. 
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Captain Cannabis, Guardian of Ganja, Sultan of Shrooms, Giver of Green, Tabbed Tripper, and all around Good Guy.
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Thank you for the advice guys. I accidently declined my Stafford loan so I have to write in to the financial aid office and get it back but it looks like I have my financing figured out.
I somehow managed to get an additional 3,000$ in Pell Grant money after spending some time on the phone yesterday. I have also managed to cut some costs out by scratching my meal plan completely and im 50/50 on getting my own apartment off campus instead of living in the dorms. (this would also help because I have a vehicle I would like to take with me)
I have to rework numbers either today or tomorrow but it looks like I am going for free + the stafford loan (1,700$ per semester)
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pblover456
Stranger
Registered: 07/07/08
Posts: 10
Last seen: 2 months, 1 day
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GL with college man, its a very fun experience, especially when you get out and start a career you love you wont even wanna leave =D
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Re: college loan help [Re: pblover456]
#8608883 - 07/08/08 04:24 PM (3 months, 2 days ago) |
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I just finished number crunching and I have it worked out where I am not only going to college for free but I am going to end up with 2,700$ in my pocket. (1,700$ in form a the Stafford Loan)
As long as I can find a semi-cheap 1 BR apartment on campus I am all set.
Thank god this headache is coming to and end
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 16,305
Loc: Caribbean
Last seen: 2 hours, 7 minutes
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> Any help is greatly appreciated
Your school should have a Student Financial Aid Department. Use this resource! They know the system inside and out and will know how to help you better than any of us.
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Just another spore in the wind.
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Re: college loan help [Re: Seuss]
#8626421 - 07/12/08 05:45 PM (2 months, 29 days ago) |
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That is actually how I got my Pell Grant increased. I just spent some time on the phone explaining my situation and he managed to get me an additional 1,500$ per semester. I also got my name added to this "additional funds requested" list that they generally disperse some extra money in September.
I now have it changed where I am living in the dorms and going for free but I had to scrap my meal plan completely. I end up with about 250$ in my pocket to help buy a book or two.
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HighTek
A FunkyPhoenician
Registered: 03/22/07
Posts: 801
Loc: In your pants.
Last seen: 1 day, 5 hours
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Can't help much with loans, but I borrowed for the first time this summer. Since it was my first time, they released the money to me 30 days after my first class started. They only released half, the second half will be released 1/2 way through the semester.
I'm really not sure if this is just for my school or universal for Federal Stafford Loans.
As for books, my college has summer programs for high school students. The program purchases their books for them and when summer is over, they store the books for the next summer... they were nice enough to let me borrow the books I need for the year as long as I return them...check to see if your college has anything like that.
My calculus book was 130$ but they let me borrow so I saved 130$. My sister saved over 300$ because she borrowed some reading, writing, math, psychology, and medical terminology text books.
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 16,305
Loc: Caribbean
Last seen: 2 hours, 7 minutes
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Re: college loan help [Re: HighTek]
#8645755 - 07/17/08 04:58 AM (2 months, 24 days ago) |
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> As for books...
If you are really hard pressed, talk to the professor teaching the class. Often, they have a "free copy" from the publisher...
Also, check online for used books (amazon, etc). I have found used college text books very cheap on line (tens of dollars compared to hundreds of dollars).
Are there any "non-campus" book stores in the area? At my college, there was only the campus bookstore for textbooks. (This was before online stores existed...) They would sell a textbook for $120, buy it back used for $10, and sell it used for $105. The last year I was in college, a privately owned textbook store opened up near campus. Their books were less than half the cost of the campus bookstore books, and their used books were only a few dollars more than what they paid for them. Competition is a good thing for the consumer...
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Just another spore in the wind.
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Re: college loan help [Re: Seuss]
#8647944 - 07/17/08 04:42 PM (2 months, 24 days ago) |
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Im looking into a program at the school where you get your textbooks for free based on financial need. Hopefully I can get the paperwork and get it turned in on time and maybe end up getting all free books.
thats a good idea as well though, online stores, I hadnt considered that option.
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WhiteBunny
How deep doesthe rabbit hole go?
Registered: 07/29/05
Posts: 1,350
Loc: Earth
Last seen: 22 days, 23 hours
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FYI: pell grants are first come first served for those in need. Register each semester day 1 that you are allowed, I had many friends in college wait too long and got $0.
WB
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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I just wanted to give an update. I ended up paying all of my fees and tuition today and at the moment I stand to pay 251.00$ out of pocket. But after I cancel my meal plan, the school should actually owe me a little over 500.00$ so that will help get books and get me settled.
I am packing tonight and probably moving either tomorrow or Thursday
Thanks to everyone who offered up their advice! this whole process has been quite stressful yet successful.
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HighTek
A FunkyPhoenician
Registered: 03/22/07
Posts: 801
Loc: In your pants.
Last seen: 1 day, 5 hours
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4 books cost me 400$.... Linear Algebra and Physics were almost 200 each!!!
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DieCommie
Ally
Registered: 12/11/03
Posts: 6,504
Loc: The Union
Last seen: 34 minutes, 54 seconds
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Re: college loan help [Re: HighTek]
#8797825 - 08/19/08 06:57 PM (1 month, 22 days ago) |
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Thats college book store rip off prices man. Surely you could have got a discount online? Often times science and math books have cheaper international editions online. My books cost over $100 used at the college book store, I get them for $30 to $50 new international edition.
CampusI.com is good.
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Behold yon miserable creature. That Point is a Being like ourselves, but confined to the non-dimensional Gulf. He is himself his own World, his own Universe; of any other than himself he can form no conception; he knows not Length, nor Breadth, nor Height, for he has had no experience of them; he has no cognizance even of the number Two; nor has he a thought of Plurality; for he is himself his One and All, being really Nothing. Yet mark his perfect self-contentment, and hence learn his lesson, that to be self-contented is to be vile and ignorant, and that to aspire is better than to be blindly and impotently happy.
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HighTek
A FunkyPhoenician
Registered: 03/22/07
Posts: 801
Loc: In your pants.
Last seen: 1 day, 5 hours
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Re: college loan help [Re: DieCommie]
#8798015 - 08/19/08 07:47 PM (1 month, 22 days ago) |
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I need them for now, I lost my card and waiting for a replacement. Once I get it, I can order a cheaper book then return my other books for full price....
I got ass raped...
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Re: college loan help [Re: HighTek]
#8798103 - 08/19/08 08:05 PM (1 month, 22 days ago) |
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Im expecting 500$ in books and I requested used books for everything if they were available.
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 S_2
Manic Depressive
Registered: 04/06/03
Posts: 5,454
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You might want to stick with the meal plan. College food can be shitty, but have you bought groceries lately? $500 for ~3 months of food? You can also choose to eat a balanced diet. You don't have to cook anything, store anything, clean anything. The hardest part is picking what you want to eat.
On books: half.com owns. Like Pell grants, you have to get on it really early (i.e. now). One semester my books were $600 at an off-campus bookstore and I ended up paying less than $150.
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Though I am old enough to have discovered that the dreams of youth are not to be realized in this state of existence yet I think it would be the next greatest happiness always to be allowed to look under the eyelids of time and contemplate the perfect steadily with the clear understanding that I do not attain to it.
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 16,305
Loc: Caribbean
Last seen: 2 hours, 7 minutes
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Re: college loan help [Re: DieCommie]
#8804180 - 08/21/08 04:31 AM (1 month, 20 days ago) |
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> Thats college book store rip off prices man.
Yep. I remember my college book store charging $120 for a paperback text book (for an English class) that was only 40 pages. This was before the days of online shopping, amazon, ebay, and the like. I got a copy through the campus library and spent a couple of bucks at the photocopy machine.
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Just another spore in the wind.
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KillerPicklez
Garden Hands
Registered: 12/13/07
Posts: 2,754
Loc: Arizona
Last seen: 22 minutes, 7 seconds
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Re: college loan help [Re: S_2]
#8806414 - 08/21/08 03:48 PM (1 month, 20 days ago) |
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Apparently it is mandatory to have a meal plan since I live in the residence halls. I tried to argue but they werent having it. I ligimately needed the money for text books and they still wouldnt have it.
Now I am moved into my dorm as of this morning. I have 100$ left and no textbooks. So this 1st semester might be a bit rocky but Im sure I can float through a bit without books
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