<p>Are there such things?</p>
<p>I know some private loans will lower your interest rate if you have a cosigner with good credit.. my mom is saying she could get me student loans with union bank with a 5.25% interest rate.. I looked at their site, I don't see anything that indicates this..</p>
<p>What are the best private loans/ student loans that have the lowest interest rates? What is the maximum I can take out per year?</p>
<p>Also, what private loans allow you to defer payments (and interest?) if you attend grad school after college on a fellowship?</p>
<p>Right now, I'm looking at taking out 16k my freshman year, 15k my sophomore year, and 6k my Junior and Senior year. Hopefully I'll find a way to lower this amount, but that's where I'm at right now. I plan to pursue a PhD in Nuclear Engineering.</p>
<p>Thanks!</p>
<p>Ask your mom how she knows this is the rate she can get…perhaps she has already spoken with them or it’s a special rate for good customers. The private loans have no set limits, it will be up to the bank to determine your cosigners ability to pay and your need will be based on your FA package. Many of them allow you to defer payments but, imo, deferring the interest charges is a bad idea. Try to pay the interest as you go along so the debt isn’t increasing while you’re in school.</p>
<p>I meant defer as in it won’t accumulate interest during that point of time…</p>
<p>Like, I’d take out the 43k plus interest that accumulated in college, with a somewhat low interest rate, and the have it pause while I’m in grad school… that way when I have a PhD, i’d have a higher paying salary, and thus could more easily pay off that 43k.</p>