College Loans

So I am going to be a freshman in college next September and the realities of tuition and loans are beginning to settle. I am in categorized in a "no-need" for financial aide, from what I understand.
 
For those who have done this before, could you give me a breakdown of how the whole loan thing works out?
 
Annual Tuition: 24,000
College: 4 Years
 
WILL be going to graduate immediately following graduate school, how does this come into play with deferrment?
 

Current Supplements: Multi-Vitamin, Glucosamine/Chondrotin, Vitamin C
Current Cycle: Stength

"Run to live, and live to run."

first of all it sucks, sorry bro it just does
 
Ok i cant believe your tuition is 24 grand a full year thats crazy bro. I go to a top school in texas and its like 5-7grand per semester so about 14 a year if that.
 
the deferification-if thats a word, works like this. If you quit school of finish with bacholors than 6 months after they start adding intrest. So on 24,000 the first 6 months you owe 24,000 than after that what ever intrest rate you signed your life to will be added to that.
 
If you continue schooling the payments will be deffered until you finish school and than intrest added after 6months,
 
What you want to watch for is that you have no COMPOUNDING INTREST. Very bad thing. If you want details i can explain.
 
Try to get a subsidised(sp) loan, means goverment pays the intrest and you just worry about the base amount.
 
Comprende hombre? 
 
if not just holler bro, im a accounting and bio chem major. I can explain mmost of the stuff to you
 
 
 
 

It is not the years in your life, but the life in your years.

The 24,000 is for PSU. It's including room and board, books, and in-state tuition. I will be attending for 4 years, then medical school following for 4 more years.

I believe I will be getting the stafford loan about FAFSA gives me barely anything, then the PLUS loan for the remaining amount.

Explain Compounding interest more...

Current Supplements: Multi-Vitamin, Glucosamine/Chondrotin, Vitamin C
Current Cycle: Stength

"Run to live, and live to run."

aite im a lil fuc*^^*& up so yeah im going for my best attepmt...

compounding intrest is like a scheme put out by the banks. Lets say you get that 24,000 and then 6 months later you owe the intrest like 16 percent annually. thats how the normal senario when not on compounding intrest.

If you were on the compounding intrest side you will have to that money back in 6 months or the accumulated intrest if the four years and 6months will be added to your amount and thhen you will pay 16 percent anuually on tthat amount. itss a bad deal  

It is not the years in your life, but the life in your years.

Is this a private school or a state university? Based on the cost I'd say private. A state university, with in-state rates would be much cheaper but might be difficult getting accepted at this point-but certainly not impossible. Regardless of your financial status there are many grants and scholarships available and you should apply for all that you can. Additionally, work at the school. The school will put you to work to help offset the cost. Visit your school's financial aide office and talk with someone there. You might need to talk to several different people till you find one who really knows their stuff and is aware of all the different opportunities.

175 lbs
47 years old
Feeling pretty good

PSU=Penn State University.

At the moment, I am getting the stafford loan, a little from FAFSA, and then I'm getting a co-signer for the PLUS loan. Then deferring all of it until after graduate school, which then I get slammed like everyone else.

Make sense?

Current Supplements: Multi-Vitamin, Glucosamine/Chondrotin, Vitamin C
Current Cycle: Stength

"Run to live, and live to run."

Those are most common, but there are a lot more sources out there. You will seem swamped your first year but find time to keep looking for sources of financial aide-remember you will be there four years and you do not want to start your career off being 86,000 dollars in debt.

Apply for every scholarship or grant that you can. There are thousands of small one time grants that range from 100-1000 dollars and a few of those can make a big difference. You can apply for many online just be careful, there are lots of scammers as well.

175 lbs
47 years old
Feeling pretty good

£17,000 after my degree

thats $12,000 just so you know lol, for the entire set of years i do, not wanting to rub it in or anything hahaha.

Thats why ODW came to UK for university, cheap tuition.

It varies from college to college here twisted. I am in the Midwest, northwest Illinois actually, and that rate is a good deal higher than our state universities. My daughter attended a private university and that is still higher than the rate we paid there. The cost could also be offset with two years at a community college (two-year college for those in the UK), which has substantially lower tuition (average in Illinois is about 60 dollars per credit hour vs. 300 per credit hour) and many with first-rate instructors. One of my instructors at my two-year school for example had previously worked for GE on their Apollo support program and was one of the designers of the Saturn V Moon rocket.

175 lbs
47 years old
Feeling pretty good

There are other colleges I am looking at with much less tuition, and I could receive scholarship to(James Madison University-15,000) However, I have had my sights set on PSU since 9th grade and also I need a school that is connected in the medical field. JMU isn't really connected anywhere, and PSU is connected to Jefferson Medical College(A good med school) in Philadelphia.

86,000....no no my friend. Undergraduate will be approx. 96,000 then I am defferring that until after medical school which will be another 100,000. I am looking at a 200,000 dollar debt that must be paid off in 10 years. However, if I'm a cardiologist, I shouldn't have a problem.

I will also be working during undergraduate year, probably as a bartender, to start the payoff of the undergrad loan.

Current Supplements: Multi-Vitamin, Glucosamine/Chondrotin, Vitamin C
Current Cycle: Stength

"Run to live, and live to run."

I'm glad I go to school for free.

President of the Emancipation Detoxification. DBB's oldest forum group, punching baby seals since 2/12/08

Not after you see the malpractice insurance rates. A couple of years back, four actually, I was at a ceremony at Johns Hopkins and was talking with a young Neurosurgeon intern at George Washington. He was in his last year of internship and said that he expected the malpractice insurance rate he would be paying the following year to be approximately 300,000 per year.

So yes, if you are going to grad school the cost will be much higher but, again you are right, you can expect higher income. All the same, student loans can saddle you with a lot of debt and though it is low, there is an interest rate. Have a couple bad months, perhaps not go to work right after graduation and miss a couple loan payments and the next thing you know that interest rate is doubled. No matter what kind of income you can expect when you graduate this is some serious debt that you are taking on so look for all the help you can get.

175 lbs
47 years old
Feeling pretty good

PearlJammer919


There are other colleges I am looking at with much less tuition, and I could receive scholarship to(James Madison University-15,000)

If you are a senior now and are looking at pre-med, you had better get going on applying. Ask for an early decision on acceptance and apply to multiple schools. If you already have acceptance to a school with a scholarship than you should strongly consider that provided they have a decent pre-med program and acceptable medical school admission rates. You cannot put this stuff off to the last minute so get going.
 

175 lbs
47 years old
Feeling pretty good

PearlJammer919


86,000....no no my friend. Undergraduate will be approx. 96,000 then I am defferring that until after medical school which will be another 100,000. I am looking at a 200,000 dollar debt that must be paid off in 10 years. However, if I'm a cardiologist, I shouldn't have a problem.

 
It will be a problem once you realize they'll be paying you in peanuts for those 10 years. If you acctually get into medical school that is.
 
But if you get throught that you're golden.

True. A cardiologist, like the Neurosurgeon I mentioned has a very long internship (8 years at most big time schools) and during that time you are paid little.

175 lbs
47 years old
Feeling pretty good