<p>Alrighty, little background first. I'm a student at UT-Austin and for the last few semesters I've been doing the college access loan (CAL) to fund tuition, rent, food, etc. The parents neither have nor do I want them to spend the money for my education. Last semester, Spring 08, I was told by the financial aid office that everyone applying for the CAL loan was getting turned down because the govt. doesn't have any money to loan. So I tried to take a private student loan and even with my parents cosigning ( There credit is FLAWLESS, like never missed a payment on anything) they gave me a quote of 10.2% which is DOUBLE my CAL loan. From what I have heard from friends it will be the same case this semester with the CAL loan not coming. Where should I go for the lowest rates using my parents as co-signers. Or are there other avenues I haven't looked at to obtain money? I am already receiving the stafford loan so I will be needing an additional 6,000 for rent, food, and remaining tution. Have any of ya'll gotten rates in this 7-8% range? Also, I will need everything to be differed until after I graduate</p>
<p>Try applying for the stafford unsubsidized if you don't have it. Then you can defer payments up to 3 years. Look into Perkins loan -most federal loans are usually understanding and, I think, will let you defer. Google 'em as I am no expert in this area. </p>
<p>Also, if those two don't work out, try going to different banks and looking at different venues (Chase, BoA, USbank, etc.). Compare rates -this will take time though.</p>
<p>Perkins loans are distributed through the college financial aid office -- the funding for them is very limited and most schools distribute the Perkins loans to the most needy ($0 EFC) students. If they weren't included in your FA package, you weren't awarded them.</p>
<p>If you have maxed out your stafford loans, then it doesn't really matter if they are unsubsidized/subsidized. AGain -- they are awarded through the FA department and there is a limit. What about the ACG or Smart grant -- do you qualify?</p>
<p>have you looked at a PLUS loan? You will find that interest rates are considerably higher for loans right now -- I honestly don't think there are any lower interest private education loans available right now.</p>