<p>My brother is going to be starting college in the fall and unfortunately he is going to need to get a loan.</p>
<p>The lazy arse didn't fill out his FAFSA.</p>
<p>Any tips on what I should watch out for and what I should look for?</p>
<p>So, with no FAFSA he is going to have to look at private loans. </p>
<p>Just make sure you read ALL the documentation and pick the one with the best terms. There are all kinds of different programs where they'll drop the interest a little if you pay on time, or pay through direct debit, stuff like that. </p>
<p>I personally chose a bank rather than a credit card company, because I feel like credit card companies often change the rules in the middle of the game, and banks are a little less likely to do that. But that's just a subjective opinion, not anything particularly solid.</p>
<p>He can still do FAFSA for the 2008-2009 school year. Although he will have missed out on some limited funding federal aid and probably institutional aid he will still be eligible for federal Stafford loans and possibly Pell grants (if EFC is below 4042 for Pell). The Stafford limit for a freshman is $5500 and all students are eligible for unsubsidized Stafford loans as long as they file FAFSA.</p>