How often should I apply for a student loan?

How do I apply for a student loan if my school says they don't endorse the checks?

  • I asked at my school for help with student loans, as I am a single mom and will need to supplement some income...the lady informed me several times that they do not endorse student loan checks. What does that mean? And where do I get a student loan if it's not through the school?

  • Answer:

    They are more than likely talking about third-party loans, which you don't want anyway (they tend to have a VERY high interest rate. IE: A $5000 loan can turn into $25,000 in just five years). Third party loans are from private lenders and tend to be a bit shady that's why many schools won't accept them. However, almost all colleges except federal student aid, which will be your best best considering they have an extremely low interest rate and you won't be expected to make payments on it until you are done with school. Even then, you can set up a payment plan that you can afford. If you are low income, you may not even have to take out a student loan. You might qualify for a Pell Grant which is up to $5100 a year for low income and need based students. Go to these websites that I'm about to give you as they have TONS of information on how to apply for federal student aid and how you can get money you don't have to repay. Also, there are several links on both of these websites that I found very beneficial when I was looking for money for school! Good luck to you! http://www.ehow.com/how_5846764_money-college-don_t-repay.html http://www.ehow.com/how_5878342_money-college-now.html

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