<p>Let's say that a university - in this case, NYU - gives me loans from the U.S. Dep't of Education as part of the financial package.</p>
<p>Do I need to take them out? Or can I find my own lender, one with lower interest?</p>
<p>You could always reject the loans and obtain your own. Remember though, if the University is offering you Subsidized Stafford loons, then the Government pays for the interest while you are in school.</p>
<p>Even you have a cosigner with a pristine credit score, you’re going to have a hard time finding loans with a lower interest rate (and you won’t find any that will have the interest rate subsidized until you graduate). But you’re free to not accept any part of the financial aid package you wish, loans included.</p>
<p>Where can you find lower rates?</p>
<p>I would like to know too! The Staffords are at what? 6.8%? Most privates are close to double that, or so I hear.</p>
<p>You won’t beat the Stafford loans.</p>