What is the best loan option for prospective grad students?
Should I get a loan from a bank or from a student loan company? Which is more affordable? If bank, any specific bank with lowest interest rates? If other, which one is best option? Thank you!
loan best answer:
Answer by payingcollege
Your best bet for grad school is the federal GradPLUs loan. Federal loans typically have the best interest rates and most generous repayment options. You must start by filling out your FAFSA.
If you've missed the FAFSA deadline for this year, private student loans are also available. These loans are credit-based, which means the interest rate will probably be variable, and based on your credit history. Having a cosigner with good credit can help. Private student loans are usually more expensive than federal loans, but still have benefits over "bank" loans, such as potential interest deduction on your taxes.
Explore your options, and borrow only what you need, b/c you will have to pay it all back eventually.
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2009 Loaned and Sponsored Representatives Luncheon
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To all of this year's Loaned Representatives, a heartfelt "thank you" on behalf of United Way and the thousands of children, families and seniors your hard work will help.
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Orignal From: What is the best loan option for prospective grad students? and 2009 Loaned and Sponsored Representatives Luncheon
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