Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
mirenda77
Just looking for point of views and advice or experiences on private student loan vs parent plus loans for college? Would like my son to be responsible for his own major part of loan and we would pay all stafford loans for the 4 years..I know interest rates would be higher with Private even with us as cosigners.
dardi
I was a single parent, my daughter applied for a government student loan and I provided her money for books, laptop and transportation. It taught her responsibility in the end.
mirenda77
when you say government student loan...so you mean stafford/ perkins etc? They are only offering my son stafford loan of the usual $5,500 for freshman year and he has a $4,000 scholarship from university per year but that still leaves $25,000 a year.
billwfriend
wow that is expensive school....I did my own loans on both my undergrad and my MA....but the thing is I also got a small pell grant...I did not have any scholarships....I went to in town school and lived on disability when I was in SLU for undergrad...for my MA I did not get any grant money and I lived on my own with no disability then too....but I used some of the student loans to support myself...of course again I went to in town school....and worked...
mirenda77
yes, it is expensive per year $35,000 because it is out of state so they more than double the price for out of state students....but no grants from PHEAA.....uggh
mybestself
Wow that is a lot of money. Tuition is much for affordable in state. Debt for education will follow a graduate for many years. Surely there are less costly options.
mirenda77
He is going to college for Pro Golf Mgmt, so that limits his college choices. Penn State "Main" does offer it, but his GPA just missed the acceptance for that site....they offered him berks campus for 1st yr, but no Pro golf mgmt there, so he would have had to spend longer in college overall $$$ Coastal Carolina Univ. is also Division 1 school which is important for him.
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