<p>I've been calculating and I'm just wondering if there's any more significant costs I'm going to need to consider when taking out my loan.</p>
<p>So far I've added tuition, housing, board, books, and small student fees (no parking fee... don't have a car yet*...) and that adds up to about $12.5K (both semesters). Anything other major expense that I'm missing? My school's projected costs doesn't mention anything else but I don't want to be caught surprised by... something...</p>
<p>Also, I'm not sure if I should just take out half of that 12K, for each semester instead. I'm going to call my school's office to see what they suggest, but it doesn't hurt to ask you guys too :P It does sound smarter to take only half; I don't want to wait for the next semester with $6K lying around, doing nothing but accruing interest. </p>
<p>I am sleepyman and through the next few weeks or months I shall provide several more questions ranging from valid to stupid. :)</p>
<p>*to start with the stupid questions, I don't NEED a car to be socially accepted do I :P ? My school is a small campus...</p>
<p>is it a federally funded loan or private loan? what is the interest rate? fixed rate or variable rate interest? when does repayment begin? </p>
<p>will you be working during the semester?
this thread might be better on the financial aid board, but I'll try to help once I have more information.</p>
<p>I have encountered with private (alternative) loans the following: You request the loan amount for the entire school year and they will disburse half at the beginning of the fall, and the remaining half at the beginning of January (on the semester system). That way you only take out one loan and you won't have the other half lying around for the first half of the school year. Also, I don't believe the second half will accrue interest until it is disbursed. For specifics you should contact your prospective lender.</p>
<p>It will have to be a private loan, probably from Chase. I've already taken out a $3.5K subsidized stafford loan and as a freshman that's the most I can get from the govt. The private loan will probably be variable interest, with repayment 6 months after graduation.</p>
<p>I will hope to find a job during the semester but its possible that I'll be out of luck. And I posted this thread in the college life board because I thought, if there were any other significant expense, that those that are in the middle of college would know them best.</p>
<p>Ah I didn't think of that Student35 but now I remember hearing something like that in a fin aid speech or something. I'll call them then.</p>