How do I take out loans for college?
Have you filled out and submitted the FASFA? Are you a Freshman/Sophomore/Junior/Senior?
How much in loans do you need?
Your other threads say you’re going to Northeastern this fall. Have you filed the FAFSA yet? If so, the financial aid package you got from your school probably already incudes the federal student loans. You have to go onto your school portal to accept them. Those loans are only ~$5500/year, though, and that’s all you can borrow on your own. Your parents would have to cosign for anything else, and that’s not generally a good idea. How much more money do you need?
Agree with above…NEU meets full need and I believe includes the Direct Loan of $5500 in their aid package.
You applied EA to Northeastern. What was your aid package?
In another thread, you mentioned getting a large award from NEU. How much did you get in “free money” (grants/scholarships)?
How much did you get in loans and work study?
How much will your parents pay each year?
How much is still left to pay after what your parents will pay?
Are you still premed?
If there are loans in you FA pkg? If so, those are the loans you can take out. If you need to borrow more, then your parents will have to borrow for you.
Pre meds should NOT borrow much since you’ll have to borrow a LOT for med school.
Free Money- I got 13K/yr Dean’s Scholarship and 20k/yr grant
No work study, but I got 2k/yr Federal/direct unsubsidized stafford loan and a 3.5k/yr federal/direct subsidized Stafford loan.
Can you explain to me what the difference between Subsidized and unsubsidized means? Also what does Stafford mean?
This leaves around 25k left to pay. My parents I think are okay with paying this much a year, but do you think it would be a good idea for me to take out additional loans?
I still intend on doing premed, but I haven’t made it “official” yet, I guess. Don’t I need to talk to my course adviser/counselor to confirm premed?
The interest on subsidized loans is paid by the government while you are in school. You are responsible for all of the interest on unsubsidized loans.
It’s just the name of the loan program, in honor of former Vermont Senator Robert Stafford.
You won’t be able to do that without a co-signer.
You wouldn’t be able to take out that additional $25,000 a year yourself. Please discuss this with your parents. You need to know if they can really pay this amount annually…and maybe a little more as costs do go up each year.
You should also plan to have some kind of job both now and while you are in college. You should be able to work ten hours a week or so.
Generally, you don’t need permission/approval from your school to be premed. you just take the premed prereqs which are regular classes. look at your school’s premed page to see what numbers those are.
no, as a premed, you should NOT be borrowing any more money.
Are there other schools that offered you merit and where you could go for less?
NEU has the co-op program, will that cause you to graduate in 5 yrs versus 4?