Question about school loans

Have you filled out a FAFSA? http://www.fafsa.ed.gov/ Choose a school and find the school code(s) to add to your application on the FAFSA site.

That will determine what your score is. The more money you make, the higher the value of certain possessions you own (land, investment properties) the higher score. A high score is considered a bad thing if you want to get traditional funding. My score was too high (17,800) to get traditional funding & pell grants. My school was however able to get me secured and unsecured Stafford loans through federal direct loans and an additional loan from ECSI to pay the full $9700 tuition.

 

Don't count yourself out on a student loan and grant until you sit down with a financial aid representative. They are trained to get you the student aid in other ways. And, why spend thousands of your savings when you can get the government to pay for a majority of it....then pick a company that pays reimbursement! Good luck whatever your choice.

 

Most schools will have their own financial aid, I didn't have a job, or good credit at the time. I went through the school for a loan, and payments didn't start until after graduation. Granted the APR was a whopping 17.99%. But, it was paid for 6 months after I started work so it was not a big bother.