<p>I applied for school loans through FAFSA, and I got unsubsidized, and I was wondering if I can apply for more federal loans through discovery student loans?</p>
<p>anyone? please?</p>
<p>The only federal loans you can get are those awarded through your school. If you are maxed out on Stafford loans, you can talk to your parents about taking out a PLUS loan (they borrow that, not you).</p>
<p>How much are you borrowing through Stafford? What year are you in school?</p>
<p>third year, i'll probably be borrowing 7500 as a transfer to UCLA, which is the max. the interest rates on the PLUS loans are really high thats why i wanted to see if i can get more from discovery student loands.</p>
<p>If you are already borrowing $7500 in Stafford loans you will not be able to borrow more - it is a maximum for all Stafford for the year not a total from one borrower. Discover do have private Student loans but I don't know if the interest rate would be any better than plus loans.</p>
<p>Borrowing a private loan is often very difficult. The PLUS may be easier to get. Beware of loans with adjustable rates, and watch out for fees. If your parents are willing to help, it might be better for them if they borrow against their home equity.</p>
<p>my parents dont want to borrow from home equity because they dont want to pay monthly rates while i'm in school, they rather pay it later when i graduate so i can help pay back some of the money when i get a job.</p>
<p>i did however get a loan approval from chase, but they are asking 8% so i'm not sure if i can find any other loans that have a lower rate percentage...</p>
<p>Once you max out your Stafford eligibility, you (the student) don't have any options for loans that will defer repayment until after graduation. However, PLUS loans borrowed after July 1, 2008 offer the option of repayment after graduation ... like the unsubsidized Stafford, interest does begin accruing at disbursement. If you take out a private loan, you will have to begin repayment right away.</p>
<p>chase, the company that i was conditionally approved for offers principle and defer payment, is that the same thing?</p>
<p>Some private educational loans do allow the payments to be deferred just like Stafford Loans. If that is what you really need, then you really need to research the companies available until you find one that offers deferred payments.</p>
<p>check out Personal</a> Loan Management from Virgin Money</p>
<p>i dont understand the virgin loan? it costs $299 to start, but the repayment plan is only 9/month? or something?</p>