Help with Student Loans -- Share your Story

[Alahondor]

Hi there! I just recently graduated high school, and have been accepted into a university in my state. This particular school (Georgia Southern University) requires all first year freshman to live on campus and to have a meal plan. Those will probably cost around 8,000 for the first year. Personally, I haven't the resources to pay for that since I just graduated, and neither do my parents. (long story short, I sort of told them I wanted to attend a university in April, so they didn't need to save any money, because the alternative was a cheap 2 year college with nothing to buy but books) Student Loans are my only option at the moment, and I was wondering if those of you out there who have received student loans can help me out. I'm looking for resources, information, websites, data, etc. I'd love a website that compares different student loan companies. Perhaps you got a student loan and it cost you hardly anything to pay back. I'd love to hear about that. Thank you for everything!

[icedwarrior]

Have you looked into Financial Aid? From the sounds of it, since your parents can't help you, you should be able to get help that way. That's the way I've been to able to afford going to college.

[Zergin8r]

Yeah I had to borrow almost $20,000 to take 3 years of college, paying it back at $190 a month now so its not so bad. If you do get financial aid try to pay it off faster when you have extra money as it will increase your credit rating and you will pay less interest.

[Slowpoke is a Gamer]

Free Application for Federal Student Aid (FAFSA)

[Grizzly Willy]

Free Application for Federal Student Aid (FAFSA)

Yup. Fill out your FAFSA. I include the link because there's a phony site out there that mimics the real one. Best you check for the ".ed.gov."

[Schmeebs]

Free Application for Federal Student Aid (FAFSA)

which if you are the average middle class white male will give you jack shit.

[Grizzly Willy]

which if you are the average middle class white male will give you jack shit.

Never hurts to check.

[Cliche]

I'd definitely recommend filling out your FAFSA, however like Schmeebs posted, if you're white, no disabilities, and your parents have a job, you won't qualify for anything.

I went to school out of state for 2 and half years, realized I had no clue what I wanted to do and accumulated roughly 25k in student loans. I realize that going to a big university has it's perks, but I'd definitely reconsider the local community college for at least the first year. A lot cheaper, and not to mention there are quite a few scholarship opportunities for transferring students.

Only telling you that, because I had to learn it the hard way :P

[Talokami]

I'd definitely recommend filling out your FAFSA, however like Schmeebs posted, if you're white, no disabilities, and your parents have a job, you won't qualify for anything.

I went to school out of state for 2 and half years, realized I had no clue what I wanted to do and accumulated roughly 25k in student loans. I realize that going to a big university has it's perks, but I'd definitely reconsider the local community college for at least the first year. A lot cheaper, and not to mention there are quite a few scholarship opportunities for transferring students.

Only telling you that, because I had to learn it the hard way :P

Echoing the others: FAFSA doesn't stretch as far as you're lead to believe. :/ I'd recommend looking at scholarships to local colleges in your area. Those can help cover whatever FAFSA won't. Most scholarships will require you to maintain a certain GPA or have other requirements but they're not unreasonable.

And I envy some of you. Tuition alone for my college was $40,000 per year. That excludes books and other ammenities. I lucked out and had most of mine covered by my parents (I am incredibly thankful for that and also a little embarrassed). My wife is not so lucky. FAFSA and scholarships only covered so much so she's left paying off around $80,000 (my in-laws have the other half). The interest rate on private student loans is horrendous and they are not forgiven upon bankruptcy.

Try applying to federal loans before touching private loans. Federal student loans tend to be smaller and have a reasonable interest rate. They are also forgiven if there is debt still outstanding after 25 years. Private loans are not. Student loans in the US will screw you over big time.

Good luck though, mate! I really hope you stick with it and study something you enjoy!