<p>I need about ~20,000 in loans this year. Can I just go to a bank and get them or should I go through my school (Cornell)?</p>
<p>This is the parents/student contribution portion. We don't have it on hand or anything. </p>
<p>I'm confused.</p>
<p>In your financial aid award letter from the school, did they include the suggested Parent Plus loan?
If they did this would be the BEST option. It is federal money, with an interest rate of 8.6%. The terms are usually very favorable and don’t have to be paid back while the student is enrolled in school. Private loans should be the last option. Exhaust federal money first. My suggestion to you would be to call the FA office, ask for their list of preferred lenders, e.g. Sallie Mae, Discover, Wachovia, etc.You do not have to use any of them, you can use whomever you wish, but this is a starting point and take it from there. The application process is fairly simple and usually on-line and you get instant approval in most cases.</p>