Grad School loans

[coll214]

Ok, so this afternoon i've been trying to read up on some of the different kinds of school loans. I get paid back for school from work, but it's not until after the class is over and I don't want to keep putting it all on my credit cards. Is there a best way to do this? I know Citibank has a link through their website for some, but any other anyone can suggest? or the best kind of loan to take out?

[Kitty]

Ok, so this afternoon i've been trying to read up on some of the different kinds of school loans. I get paid back for school from work, but it's not until after the class is over and I don't want to keep putting it all on my credit cards. Is there a best way to do this? I know Citibank has a link through their website for some, but any other anyone can suggest? or the best kind of loan to take out?

Do you have a credit union through your university? We have one here and the loans are really good with good interest rates. you can see a financial advisor for free.

[coll214]

Ohh, I didn't even think of that!

[analogman]

Does your employer’s program have the option of pre-paying the graduate school tuition? My employer's tuition reimbursement program has that option. I didn't choose it because I just started and I don't want to risk having to pay them back if I don't have good enough grades (they only pay if I get above a certain grade).

[cameralady]

Another option would be an installment payment program. (Some schools have this)

[CityGal]

Have you tried some of the government loans? Fannie Mae? If (god I so hope I do) I get into grad school this is something I would def. need to do. I was just going to fill out my fafsa and pray I get any government money.

[Deni81]

Anyone looking into or done work-study to help pay for grad school?? I'm looking at all my options.

[Dude]

My suggestion is to pay close attention to the interest rate before agreeing to any loan. The rate can vary greatly. I would also try to stay away from private loans if I were you although the rate may not be that bad if you have good credit.

Try to get a subsidized federal student loan if you can. You should be able to get 9K in subsidized student loans unless there have been recent changes to the laws. A subsidized loan does not accrue interest while you are in deferment which makes it better than any loan you can get from the credit union.

[awhitmer83]

A little late to the party here... Beware private loans! I took out an "alternative" loan during grad school after being assured that it was just like a federal loan. Graduated, started trying to consolidate my loans, and guess what! The alternative loan can't be included in the consolidation. I'm now stuck paying this thing at 18% interest (it started at 6% but they jacked my interest after I missed a few payments on a totally unrelated credit card - now that the bankruptcy laws changed, companies can do that even if you were never late paying them). Do anything you can to borrow from the government!

[AshleyJordan]

Ouch! Have you tried to negotiate with them at all about the interest rate? That sounds ridiculous that they're able to do that. If nothing else, you know that you can deduct the interest paid, up to $2,500, on your taxes (at least you'll get a little bit of a break).