#1
So I'm currently looking into taking out some student loans, but I'd like to ask for the Pit's advice first as I've never done anything like this (or known anyone who has) and wouldn't know where to begin.

What's the best way to do this? Best repayment plans? Best company/bank with lowest interest?

Preferably share experiences of triumph and failure.

Let me know if you need any additional info.



EDIT: Just to clarify a few things. International student in Los Angeles (So it's got to be a private company). I just need someone to point the direction to the place with the best plan (least interest and most flexible repayment schedule). Plus any and all advice on my options.
Last edited by ali.guitarkid7 at Oct 8, 2011,
#2
In Dubai or are you studying abroad?
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#3
It's generally better to get as many student loans from your school and the government as possible, because they're a lot cheaper, and oftentimes don't collect interest until after you graduate.
#4
Quote by Kensai
In Dubai or are you studying abroad?

I'm studying abroad in LA.


^ So basically small amounts from different places?
Last edited by ali.guitarkid7 at Oct 8, 2011,
#5
Quote by ali.guitarkid7
I'm studying abroad in LA.


The American state? Ouch. Education will be good, maybe not on your wallet.

OT: I really don't have a lot of experience. My sister just went off to college but she got some kind of mega scholarship. Make sure you really read the agreement really good I guess
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#6
Quote by GuitarThoughts
The American state? Ouch. Education will be good, maybe not on your wallet.

It's actually a lot cheaper than Dubai. Not the state though, the city.


By the way I'm not a US citizen, so I can't take out any public student loans. (Correct me if I'm wrong) I'm going to have to stick with private loans.
Last edited by ali.guitarkid7 at Oct 8, 2011,
#7
^Really? Is the exchange rate good? Also be sure you find good housing because LA is kind of a shit town when it comes to cleanliness and security, though it has so many opportunities and sights to see. Weed is practically legal there so....


Quote by ali.guitarkid7
By the way I'm not a US citizen, so I can't take out any public student loans. (Correct me if I'm wrong) I'm going to have to stick with private loans.

Correct
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Last edited by GuitarThoughts at Oct 8, 2011,
#8
Quote by GuitarThoughts
^Really? Is the exchange rate good? Also be sure you find good housing because LA is kind of a shit town when it comes to cleanliness and security, though it has so many opportunities and sights to see. Weed is practically legal there so....


Correct

Well the exchange rate's $3.67 for every One Dirham. So I'm not sure, but I know that the price of education and housing there is $4000 cheaper than just the education here. It's the same Uni, with the same facilities (SAE institute)

I know
#9
Does LA mean Los Angeles or Louisiana?
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#12
Quote by smokeysteve22
Take student loan out
Complete course
Rob bank

I don't do that anymo-

I mean, how would you even suggest such a thing?!

EDIT: Any help would be nice guys
Last edited by ali.guitarkid7 at Oct 8, 2011,
#13
Quote by ali.guitarkid7
It's actually a lot cheaper than Dubai. Not the state though, the city.


By the way I'm not a US citizen, so I can't take out any public student loans. (Correct me if I'm wrong) I'm going to have to stick with private loans.


See if your school offers loans or financial aid. Those also usually don't collect interest or have to paid back until you graduate.
#14
Never get student loans in England. Im in serious debt with my banks because they still havnt sorted it, 3 weeks after they said they would.
#16
I've taken out my first loan this semester. YAY!
Banks should be your very last choice, and only if you literally cannot get money from other sources. No loan is ever a good loan, but they best I found was from StudentLoans.gov. https://studentloans.gov/myDirectLoan/index.action
I didn't qualify for any financial aid at school, so I had to go this route. It's based on credit check rather than financial need.
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#17
Quote by metalh3ad88
See if your school offers loans or financial aid. Those also usually don't collect interest or have to paid back until you graduate.

Yeah I looked this up, apparently they do. Even offer 'em for living expenses.

It took me 2 hours to find it

Anyway, yeah thanks.

Any advice on what to expect in my first year?

^ Thanks for the link, is there a section there about international students? The page is taking forever to load...
Last edited by ali.guitarkid7 at Oct 8, 2011,
#18
I would never take out a loan. I get financial aid and pay the difference myself. I don't want to spend the rest of my life paying some degree off.
#19
I haven't had to pay a cent for school yet. Scholashipz bitchezzzz!

I know this doesn't help. I just want to brag.
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#20
Quote by ali.guitarkid7
Yeah I looked this up, apparently they do. Even offer 'em for living expenses.

It took me 2 hours to find it

Anyway, yeah thanks.

Any advice on what to expect in my first year?

^ Thanks for the link, is there a section there about international students? The page is taking forever to load...

http://studentaid.ed.gov/PORTALSWebApp/students/english/intl.jsp
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#21
Quote by ali.guitarkid7
Los Angeles ^ Forgot to clarify that when GuitarThoughts asked.


School is a lot cheaper in Louisiana. Like LSU. Only go to Southern University if you're black
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#22
Quote by element4433
I haven't had to pay a cent for school yet. Scholashipz bitchezzzz!

I know this doesn't help. I just want to brag.

oooohhh everyone look at me I'm a mod and I'm smart!




Quote by Horsedick.MPEG
School is a lot cheaper in Louisiana. Like LSU. Only go to Southern University if you're black

Yeah but this is the only good Uni that'll accept me since I haven't finished High School.

Foundation courses are the shitz

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That is awesome, thanks!
#23
Quote by ali.guitarkid7
That is awesome, thanks!

I'm no expert or anything, but I have taken out the loan already (not an international student, though.) So if you have any questions, I'll try to answer them as best as I can.
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#24
Don't forget to see if any grants are offered at your school. They're like student loans except you don't have to pay them back.
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#25
Quote by Assasaurus
Don't forget to see if any grants are offered at your school. They're like student loans except you don't have to pay them back.

Nah they aren't, no grants and no aid.


Quote by carlos_almighty
I'm no expert or anything, but I have taken out the loan already (not an international student, though.) So if you have any questions, I'll try to answer them as best as I can.

Alright I will
#26
If you are an international student, most likely you won't be eligible for financial aid from the federal government. I go to a private university, and international students are not eligible for university grants either.

Fortunately, my university offers scholarships to international students, so that can be helpful.

If all else fails, you can check private student loans from banks. Some good ones are Sallie Mae (though they spam you a lot) and Wells Fargo. Not sure if your interest rates would differ since you are not a US citizen, but good luck!

P.S. I go to a university in LA too.
#27
Yeah Sallie Mae's the one I'm going with (It's recommended by the School) but I've heard a lot of bad about them, discrimination and such. Hopefully there won't be any of that.