<p>How can I get private student loans? I'm an out of state hs senior going to ASU. And how much is too much to borrow?</p>
<p>I think I’ve read somewhere that a rule of thumb is to not borrow more that 1 year worth of expected salary after graduation. For example, if you project to work as a sales rep earning $40,000/yr, then you shouldn’t borrow more than that in loans for your education.</p>
<p>As far as where you can get one, the following has some really good information on comparing different private educational loans and towards the bottom is a list of participating lenders:
[FinAid</a> | Loans | Private Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Private Student Loans - Finaid)</p>
<p>Hope this is a start.</p>
<p>Christina, if you are asking about loans without a cosigner, I think you are going to have difficulty getting a loan. Will you already have the $7500 stafford loan?</p>
<p>I think the op is a hs senior going to ASU next fall, not a senior at ASU. OP the stafford loan for freshman year is 5500.</p>
<p>How much do you need to cover the costs at ASU?</p>
<p>Christina17 -</p>
<p>Many parents here in the Financial Aid Forum would advise you to keep your loan burden to no more than the Stafford Loan limits (5,500 freshman, 6,500 sophomore, 7,500 junior, 7,500 senior). That is all you can take out without a co-signer. To go past those limits you would have to find someone who is ready, willing, and able to accept responsibility for your loans if you can’t pay them back - that’s what co-signing means. Some parents will co-sign, or they will take out Parent Plus Loans or some other type of loan, in order to help their children get the education that the parents want them to have.</p>
<p>If you can’t meet the cost of your education at ASU without a loan or two, sit down with your parents and talk about this. Different families have different notions about borrowing money, and different capacities for repaying loans.</p>
<p>Wishing you all the best.</p>
<p>I’m an out of state [high school] senior going to ASU</p>
<p>It’s not worth it to borrow much for an OOS school and you’d be looking at 4 years of borrowing.</p>
<p>Did ASU give you any scholarship money? how much?</p>
<p>How much are your parents paying?</p>
<p>The fed loan amounts are:</p>
<p>5500 frosh
6500 soph
7500 jr
7500 sr</p>
<p>That’s the MOST you should borrow.</p>
<p>What is your major and career goal? </p>
<p>How much do you think you’ll be earning when you graduate.</p>
<p>Will your parents co-sign private loans (hopefully not.)???</p>
<p>What is your likely EFC?</p>
<p>What other schools did you apply to?</p>
<p>What state are you in?</p>
<p>edited to add…</p>
<p>Will I get in with a 3.688 gpa, top 25% in my class but only an 18 on the act?</p>
<p>I don’t think you got any merit scholarship money, so it looks like you’d be borrowing a lot unless your parents are paying a chunk. BAD IDEA.</p>
<p>[Few</a> options available to help in paying off private student loans ? USATODAY.com](<a href=“http://www.usatoday.com/money/perfi/college/story/2012-01-12/private-student-loans-relief/52520848/1]Few”>http://www.usatoday.com/money/perfi/college/story/2012-01-12/private-student-loans-relief/52520848/1)</p>
<p>Iron Maiden, that is a really great link. I’m going to post it on the thread by the NYU kid who needs a co-signer so that he can get more loans – and be $100,000 in debt when he graduates with a graphic arts degree! (Although it’s not clear if that OP is still reading…)</p>
<p>The article should be a “must read” for all kids who want private loans.</p>
<p>I agree. College is an investment. You need to look at the investment and the return.</p>
<p>A graphic arts degree with $40,000 in debt is crazy let alone $100,000.</p>
<p>Thank you so much mom2collegekids. You probably just saved me from making the worst decision of my life. Haha ok not really but I’m glad I read what you said and am definitely reconsidering.</p>