I need to apply for a student loan for my son for college ..HELP!!!?

Depending on your sons year in school, there are a few options. First fill out a FAFSA(Free Application for Federal Student Aid), both you and your son. This will show some of the grant programs he might be eligible for, and it will also show how much for Stafford loans he is eligible for. He will not have to pay these until 6 moths after he’s finished. It will show if you are qualified for Parent Plus loans, these would begin repayment 60 days after fully disbursed, but you would have the right to 3 years deferment, and three years forbearance, or six years non-payment, these rights can be refreshed by consolidation.

This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started.

Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. Once you have decided how much you will need in stafford loans, shop around for the best rates. All the rates will be very close but each company offers different borrower benefits and while they may seem small, something as little as .25% difference will be significant over the life of the loan.

Becasue of loan limits, you may need more then what you are able to get from stafford loans. If you find that you need more money then you are offered, you may want to try a private student loan.

The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestudentloans.phtml

Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.

First, make sure your son has applied for every grant and scholarship he can find. Then you want to make sure your son fills out the FAFSA (www.fafsa.ed.gov) so he can apply for federal student loans. Federal loans typically have the lowest interest rates and most generous repayment options. He should apply for the Stafford (no credit check, student applies himself) and then you should apply for the PLUS loan, which can cover the total cost of his education (minus other financial aid), including books and expenses, at a fixted rate of 8.5%.

If you’ve missed the FAFSA deadline (this varies by state and by school) there are private student loans available from banks. These loans are not guaranteed by the gov, therefore carry a much higher risk to the lender, so they are credit-based. Your interest rate will probably be variable and based on your credit history.

Lastly – that’s an expensive school to finance. Have you considered less expensive schools? It’s possible to attend a lower-cost college the first two years, then transfer to this expensive school if his heart is set on getting a degree from this school.

Good luck!

You and your son have many options.

Make sure the first thing he does is complete the FAFSA. Once this is done and he qualifies for financial aid, then you can decide what type of student loan to get.

If you really want to cosign for his loan, then you should get a Federal Plus Loan, which is a parent loan offered by the government to students regardless of their financial needs. Find out more here:

http://www.studentfinancedomain.com/student_loans/federal_plus_loans.aspx

I would highly suggest your son applying for a Federal Perkisn Loan on his own because this is the lowest interest government loan, plus, the government will help pay the interest as long as he is enrolled in school. Read more here:

http://www.studentfinancedomain.com/student_loans/perkins_student_loans.aspx

Another option is the Subsidized Stafford government loan:

http://www.studentfinancedomain.com/student_loans/perkins_student_loans.aspx

There are always resources out there to help you pay for college. My entire undergrad tuition was paid through government loans, and I consolidated them together and have only one payment a month. Here’s more about loan consolidation:

http://www.studentfinancedomain.com/student_loans/college_student_loan_consolidation.aspx

Good luck!

Read recentgradtrish’s message and ignore all those others about private loans….

By the way – how is it your son didn’t get any financial aid if you only make $30,000 a year? I make three times as much, and my son still got a grant for nearly $7,000 on a school costing about the same as your son’s. Did you not fill out the fafsa and the school paperwork?

It may depend on the state you live in, but in Michigan you can get loans from the government. Subsidized and unsubsidized, low interest rates and you don’t pay back until you are done with school. Also there are Pel Grants available, which you don’t pay back at all. I would start there, it worked great for me. Your local college should have all the information.

I purely graduated final 3 hundred and sixty 5 days and had to take out loans for college this 3 hundred and sixty 5 days additionally. first difficulty is that if he has good grades and/or performs activities he could desire to optimistically get a scholarship, 2nd difficulty is to do the fafsa reported above which estimates the family members contribution to college (mine became over how a lot college value me, so i became traumatic I wouldnt get any funds through fact my mother and father desperate to make me pay for it). So for some months i assumed i became screwed and did not understand what i became going to do… Then fafsa ended up giving me approximately 10,000 in unsubsidized and backed loans, then I took inner maximum loans out (which I did use my mother and father to cosign for) yet is his mom prepared to cosign for loans?? in any different case i might purely bypass on your economic company and notice what they could do for him after he turns 18 he can take out a private loan by making use of himself however the fees of interest would be larger. good luck! wish that helped.

The fasa program should hook you up with the dept of education parent loan program, it’s at 3.5 percent right now I think. (2 kids in college)

Call the burser office at the college as well, they are there to help.

try chase bank