<p>Hi, I'm a junior undergrad student right now. I'm probably not likely to qualify for highly need-based loans. I'm looking at educational loans right now. </p>
<p>I have to take out the loans, not my parents. but i will be considered a dependent. Probably looking at loans in the 17000 - 18000 range this year, and 22000 - 24000 next year (worst case). </p>
<p>1) What are the best types of federal loans, and how long to they take to process? (I mean to actually get the money to pay for college)
2) Are there any private loans you guys would suggest, how long do they take to process?
3) If I get a loan, does it count toward my EFC?
4) Does the loan money go straight to me, or straight to my school or what?</p>
<p>5) Does anybody know what LIBOR means? I was looking at the FinAid site here:FinAid</a> | Loans | Private Student Loans. and i couldn't figure it out. </p>
<p>Thanks SO MUCH to anyone who replies!!</p>