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Old 08-07-2009, 08:07 PM   #21
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Financial aid office is your best friend! Be nice to them, go to them with your questions; they are a great help! And, like I mentioned earlier, go to the learning center, they should be able to provide you with free help, like tutoring.
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Old 08-07-2009, 08:09 PM   #22
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Derek, don't borrow more than you need to -- you DO have to pay it back, and they DO charge interest.

If you can buy the software from the store I recommended for $90, don't borrow $3900 to buy the same thing from the college. That's just plain nuts!
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Old 08-07-2009, 08:11 PM   #23
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One gets their Stafford $$ that is leftover from tuition , room and board (if applicable), then the rest is dispersed to the student. One can use that money to buy what one needs, regardless of the source. Many students buy their books online. Or not at all! I knew a gal that used her extra $$ to buy Halloween decorations instead of books. Granted, she didn't pass those classes...
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Old 08-07-2009, 08:36 PM   #24
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Stafford Loans currently have an interest rate of 5.6% to 6.8%. If you wait until you graduate to start paying it back, even that seeming low rate can significantly increase the amount owed. Do the math! Anyone who would use the money for halloween decorations, or any other discretionary expense, is a stone fool. It's NOT free money; it's a friggin' LOAN, and if your fail to pay it back, you will be financially screwed for years to come.
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Old 08-07-2009, 08:52 PM   #25
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Actually, a stoned fool, and hers was a grant because she is poor.
Of course, the best way is to pay cash for everything. But, not everybody has cash up front for college. I got my master's with a Stafford, paid it back rather easily after I got my degree.
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Old 08-07-2009, 11:26 PM   #26
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Quote:
Originally Posted by Wyogal View Post
Financial aid office is your best friend! Be nice to them, go to them with your questions; they are a great help! And, like I mentioned earlier, go to the learning center, they should be able to provide you with free help, like tutoring.
Thank you Wyogal, I will do that And Monday I will see what they say?

Quote:
Originally Posted by Scotch View Post
Derek, don't borrow more than you need to -- you DO have to pay it back, and they DO charge interest.

If you can buy the software from the store I recommended for $90, don't borrow $3900 to buy the same thing from the college. That's just plain nuts!
Oh Scotch I know that and I am planining on only barrowing $300 for the adobe bundle, and I know I have to pay it back.

However with a Substudiced Stafford loan I will not have to pay the intrest back, but the unSubstudiced loan I would have to as soon as I barrow it.



Quote:
Originally Posted by Wyogal View Post
One gets their Stafford $$ that is leftover from tuition , room and board (if applicable), then the rest is dispersed to the student. One can use that money to buy what one needs, regardless of the source. Many students buy their books online. Or not at all! I knew a gal that used her extra $$ to buy Halloween decorations instead of books. Granted, she didn't pass those classes...
Quote:
Originally Posted by Scotch View Post
Stafford Loans currently have an interest rate of 5.6% to 6.8%. If you wait until you graduate to start paying it back, even that seeming low rate can significantly increase the amount owed. Do the math! Anyone who would use the money for halloween decorations, or any other discretionary expense, is a stone fool. It's NOT free money; it's a friggin' LOAN, and if your fail to pay it back, you will be financially screwed for years to come.
Quote:
Originally Posted by Wyogal View Post
Actually, a stoned fool, and hers was a grant because she is poor.
Of course, the best way is to pay cash for everything. But, not everybody has cash up front for college. I got my master's with a Stafford, paid it back rather easily after I got my degree.
Thanks Wyogal, My loan is a stafford also but it's Substudized and I don't need to pay intrest which is great for me so if I barrowed $300 for the program I need I am not going to end up paying them back $1,500 in intrest & the loan.


YAH,
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