I want to attend a private school that cost about $20,000 a year. I won't be on scholorship the first year. Is it possible to take out 20k in student loans?
I want to attend a private school that cost about $20,000 a year. I won't be on scholorship the first year. Is it possible to take out 20k in student loans?
Yes, fill out a fafsa, go on from there....
You can take out both Subsidized and Unsubsidized Stafford Loans, as well as Federal Perkins Loans and your parents can apply for a PLUS loan.
Yes it is, but you probably won't have to do that. I went to a school that was about $30,000 5 years ago. I got some need-based aid, some merit based aid and then the federal student loans that everyone can get ($4000 for freshmen). To cover the difference, I took out a $10,000 private education loan each year from Great Lakes. It wasn't that bad. I ended up with $27,000 in private loans to repay ($250/month for 20 years, but 5 years later I'm about to pay it off early) and $13,000 in federal loans ($125/month for 10 years). If you're willing to pay that much per month starting 6 months after you graduate, it is definitely possible to get those loans. In many ways, I regret spending all that money, as I could have gotten a degree that would have suited me better at a much less expensive school, but at the time, I loved every minute of attending that expensive college.