Our DD starts college this fall. We have many questions on student loans. She has accepted some of her financial aid. She accepted the Pell Grant, another grant, Federal Subsidized loan, Federal Perkins loan. She also has a small scholarship and work study.
What we have questions on are 2 other loans in her financial aid award. The Federal Unsubsidized loan and the Federal Parents Plus loan.
We didn't want to do the Parents Plus loan, because than we are responsible for paying it back.
Is a Federal Unsubsidized loan ok to accept? We realize the interest starts accruing immediately on this one.
Or would we be better off not to accept these 2 loans and go to an outside student loan provider? We could get a really good rate through our credit union (DH and I have excellent credit scores). We realize we will have to co-sign for DD if we go to an outside source.
Can anyone offer any advice? This is all new for us! Thanks so much!
What we have questions on are 2 other loans in her financial aid award. The Federal Unsubsidized loan and the Federal Parents Plus loan.
We didn't want to do the Parents Plus loan, because than we are responsible for paying it back.
Is a Federal Unsubsidized loan ok to accept? We realize the interest starts accruing immediately on this one.
Or would we be better off not to accept these 2 loans and go to an outside student loan provider? We could get a really good rate through our credit union (DH and I have excellent credit scores). We realize we will have to co-sign for DD if we go to an outside source.
Can anyone offer any advice? This is all new for us! Thanks so much!