Private Loans: What am I getting into?





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Discus: Financial Aid and Scholarships: May 2004 - Archive: Private Loans: What am I getting into?
By Omnivore (Omnivore) on Tuesday, July 06, 2004 - 12:19 am: Edit

I think the question on a lot of people's minds involves the true cost of taking out private loans.

I'm considering both NYU and UNC, and cost is definitely an issue I'm taking into consideration as I choose my destination.

I figure if I do well enough at NYU and on the necessary GRE/Grad School tests, I can go to grad school for relatively cheap. It's scary to jump into debt for just an undergrad education... so I'd like some advice on these matters.

ARE PRIVATE LOANS WORTH IT??? AHHH HELP!

By Smhop (Smhop) on Tuesday, July 06, 2004 - 02:50 am: Edit

the question is not "are they worth it".. the question is "are they worth it to you?"

If its any consolation, I am taking out a truckload in private loan funds... and yes, it is worth it to me. But, I did have to do some soul searching to determine that. I believe it will prove to be the right choice.

By Floppydee (Floppydee) on Tuesday, July 06, 2004 - 03:53 pm: Edit

How bad do you want to invest in your education? You must think of your education as your own business that you put your time and money into-for possibly a better outcome in the end! I am only in community college-and since I am a non-trad student in her early 20s, I both work and attend school part time. I had to take 10K out just for community college!! Then I plan to transfer and will probably be looking at close to 30K-40K after my BS! But I also don't plan to go to any "fancy" expensive college either. So bottom line-go for it-it will all be worth it!


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