<p>I'm on the verge of transferring to a UC now that decisions are coming out. Regardless of which campus I'll be attending in the fall, I know that I'll need some financial aid, and I don't seem to ever qualify for Cal Grants or FAFSA or anything of that nature. Because of this, I'm going to need to get a student loan of approximately $40k to cover the next two years. Does anyone have any reccomendations as to what banks, credit unions, etc. are particularly good for student loans (meaning very reputable bank with low interest rates)? Any help is greatly appreciated. Thanks.</p>
<p>You can still apply for federal PLUS loans even if your EFC is too high. Your parents have to just have decent credit. From next year on, the Federal Gov is raising interest rates on all federal student loan programs (makes little sense to me), so you'll get a fixed rate of 8.5%. That's good though considering private banks which can now offer you as low as 7.5% are going to be hiking in return as well.</p>
<p>Where do I apply for federal loans? I have completed and submitted both my Fafsa and Calgrant forms. Thanks</p>
<p>Look up to see if the school(s) you want use the federal direct loan program or not. If they are part of the direct loan program, you're school has to arrange the PLUS loans for you most of the time. Look up the school on princetonreview.com, go to the scholarships and financial aid tab, and see if you school offers FFEL Plus loans, which are different from direct loans. If they have FFEL Plus loans, you can go to any major bank and apply for PLUS loans through them. All of the rates are the same because this is a federal program, but some banks will give some perks like no origination fees, perks for automatic repayment, etc. Bank of America has good perks and is in California.</p>
<p>Very helpful, thanks, bravesboy!</p>
<p>Yes, thank you.</p>