Is getting a private loan for my living expenses a good idea?
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i'm a senior in college. i'm having a very difficult time managing my 5 classes and working a part time job. (I have a 2.0 GPA. I suck at school) Would taking a private loan to cover my living expenses be a good idea? This way, I can quit my job and focus on school. my parents can't help me so the parent loan option is out of the question. I currently have about 15,000 in private student loans that are being deferred until after I graduate. i think the interest rate I would qualify for around 10% percent. Any ideas?
Is getting a private loan for my living expenses a good idea?NO, NO, and NO!!!!
Look into a federally-backed loan.
You can consult the financial aid office at your school for advice.
Is getting a private loan for my living expenses a good idea?A loan should be the last resort. It's not fun busting your rump through college for a better job just to have more loans hanging over your head when you finish. If you have to, you have to, but I would explore every other option first.
Good luck to you. You're almost there!!! C's get degrees!
Is getting a private loan for my living expenses a good idea?Private loans are NASTY.
Watch for VARIABLE APR's (variable=ever changing) meaning the interest rate will go up and up.
You may want to get a different job or really re-organize your life style to cut costs. Loans are no good and they are very serious.
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