Jay Mathews on Paying for College

Paying for College
81

<p>The previous post stated (emphasis added):</p>

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So a low-income student is probably unable to take out student loans except for Federally funded loans.

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<p>I should have clarified that this is true of the Federal loan programs - Stafford, Perkins, etc. - even if the loan is actually through a private lender.</p>

<p>Regardless, loans which are completely separate from the Federal programs generally do require a cosigner. And if the strict limits for the Federal loan programs are inadequate, private loans are the only option for additional borrowing.</p>

82

<p>The federal government is very generous with loans–although they are admittedly unsubsidized some of the time. But at many state universities, you shouldn’t even be taking much out in loans if you’re low income–grants+work+subsidized loans should pay for almost all of your education.</p>