<p>Hey guys</p>
<p>I'll be off to college this year at the University of Connecticut and I'm in a bit of a bind!UConn has a monthly payment plan which I enrolled in so that I can pay the cost through 8 separate monthly payments. I've already paid the first payment. Leaving me with $16,000 to pay over the next 7 months. </p>
<p>UConn gave me $3,500 in subsidized stafford loans. Is it possible for me to take out a private loan for $4,500 for a total of $8,000? </p>
<p>And if I do take out the loans I've been looking at Sallie Mae as the main choice through their Signature Student Loan.</p>
<p>Any advice from you guys would be greatly appreciated!</p>
<p>Thanks.</p>
<p>Hi there -</p>
<p>The best thing to do when looking at private loans is to compare lenders. Look at any borrower benefits they might offer as well as interest rates and fees, and repayment terms. Also, if you borrow with a credit worthy coborrower you should get a better rate. You can borrow up to the cost of attendance less any aid you have already been awarded.</p>
<p>Good luck!</p>
<p>I just talked to one of the financial officers and luckily I was able to get 2,000 more for my stafford loan! For a total of $5,500. Which means now I need only 2,500 in private loans!</p>
<p>So now I'm looking at lenders like Sallie Mae or Chase for my private lane:)</p>
<p>Seems it doesn't hurt to ask about aid.</p>
<p>The limit for Stafford loans for a freshman is $5500 this year (a max of $3500 subsidized) so you should try and get the additional unsub Stafford before you go private.
FinAid</a> | Loans | Student Loans</p>
<p>I felt so relieved when I got the max stafford loan for freshmen. I hadn't even thought about it until I read some of the threads on this forum.</p>
<p>Lots of great advice here!</p>
<p>Sallie Mae seems to have a bad rep - lots of people post here with negatives about them - try doing a search in this forum. A couple of people have recommended Discover student loans. That is who we are considering for our Son.</p>