<p>Not to get into too much detail here (since money is one of the touchiest topics around) but I would like to know if any posters here have experienced Columbia's loan program first-hand.</p>
<p>I think I may have to turn to them to finance my studies and while I don't have all the details yet, I'd like to know if it's generally a good/easy experience (better than a bank) and if it's manageable after graduation (i.e. no outrageous interest rates).</p>
<p>Do you mean loans where the university itself is the lender, or are you referring to student loans like Stafford and Perkins loans that you obtain from banks via CU's financial aid office?</p>
<p>And I'm not sure what you mean by "manageable after graduation (i.e. no outrageous interest rates)" when you speak in such vagueties.</p>
<p>Loans with Columbia as the lender.</p>
<p>Manageable after graduation (i.e. no outrageous interest rates) = Reimbursement plans with low interest rates that students can easily manage paying back after graduation.</p>
<p>
[quote]
Manageable after graduation (i.e. no outrageous interest rates) = Reimbursement plans with low interest rates that students can easily manage paying back after graduation.
[/quote]
</p>
<p>Whether you can "easily manage paying back" a loan after graduation depends on at least 1) the interest rate, 2) how much you take out, and 3) your salary. This thread is going nowhere. Why don't you call the fin aid office to inquire about the rate that applies to the Columbia loans?</p>
<p>Of course I intend to contact the school directly.</p>
<p>It's not meant to "go somewhere" in the sense of answering all my inquiries. I just asked if past or current Columbia students had any experience with the school's loan programs they were willing to share. I thought that was obvious.</p>
<p>If you don't then they're not much to add really. Other posters however may.</p>
<p>On year, Columbia offered me a $5,000 loan directly from them as part of my fin aid package. It's just like any other loan I took out for fin aid. Not sure how this helps you.</p>
<p>are you gs or cc/seas? cc/seas doesn't do loans anymore...</p>
<p>Shraf--Columbia still allows students to take out loans--I'm a freshman and am taking out as much money as I can. </p>
<p>I contacted my financial aid officer via email (which I reccommend you do too) and she gave me a link to a specific online application and all the information about loans which I'm sure, with a bit of searching, you could find on your own. The thing is Columbia does not act as a lender--instead they have private banks giving out loans. I know for me the most I can take out this year is 5500 and it goes up by about 1000 each year. The interest rate is 6.8% I think and it does not start earning interest until after you graduate as far as I understand.</p>
<p>
[quote]
I contacted my financial aid officer via email (which I reccommend you do too) and she gave me a link to a specific online application and all the information about loans which I'm sure, with a bit of searching, you could find on your own. The thing is Columbia does not act as a lender--instead they have private banks giving out loans. I know for me the most I can take out this year is 5500 and it goes up by about 1000 each year. The interest rate is 6.8% I think and it does not start earning interest until after you graduate as far as I understand.
[/quote]
</p>
<p>This sounds like a Stafford loan to me.</p>
<p>If you have the opportunity to take any loan where interest doesn't accrue until graduation, take it. It's free money because you can pay it off in full before upon your graduation.</p>
<p>
[quote]
Shraf--Columbia still allows students to take out loans--I'm a freshman and am taking out as much money as I can.
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</p>
<p>there's a reason i deleted my post...mainly because i realized i had no idea what i was talking about after doing a bit of googling</p>
<p>
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This sounds like a Stafford loan to me.
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</p>
<p>yes, this is a stafford loan</p>
<p>
[quote]
If you have the opportunity to take any loan where interest doesn't accrue until graduation, take it. It's free money because you can pay it off in full before upon your graduation.
[/quote]
</p>
<p>i would be careful here for two reasons</p>
<ol>
<li><p>most times there are fees associated with these loans whereas paying the tuition upfront if you can is free</p></li>
<li><p>There is a limit to the amount you can borrow lifetime ...this might only become a problem if you decide to go to grad school</p></li>
</ol>