i work at disneyland barely scraping by even working full time, can barely afford anything but they pay for my school im waiting to get accepted for college and loan offers. when i get accepted Should i continue scraping by as long as i can get food in my stomach or when loan offers come should pull out like a 10k loan and have that in my savings so i can afford things i need for survival while also slowly paying it back ?? i could stack it up as well because i dont have many things that i need to buy that way i can build my savings sky high. how does that sound? am i living in a fantasy or is that legit
My son accepted the $5500 unsubsidized federal loan and also received an athletic scholarship. My wife and I want to pay the difference he’ll owe after taking these two items into consideration. Would you suggest a private loan or parent plus loan? Also, are loans to be applied for by semester or per year?
Can I take out more money?.. I took out the loan for my first 2 years of community college. And it covered just the amount I needed. But now that I am transferring to a university to finish out my bachelors. I’m scared that I can’t afford school. I am in a high demand healthcare program( respiratory therapy) and it’s advised not to work. I do have a internship though. Which is 16 hours a month. But that makes me just enough for gas. I’m jumping from 150 a credit to 800 a credit. It’s insane the amount of stress I’m going through being scared that I won’t be able to secure the funds for school.
So then you can’t call it interest free! 😅 subsidized, interest delayed 6 months, unsubsidized, interest paid immediately. None of which is “interest free”
Not wise, dude. If you have a debt already, and you intend to purchase a house by putting down a down payment will place you in double the debt. Both school and house, that's if you take out a loan to pay for mortgage. I would say use that money to pay off your school loan debt instead of buying a house.
@@edzamoracollegeprepchannel3820 What I meant is if I or We received the loan today can I start paying it the next month? Thank you for your response and all your content by the way I'm so blind about the way education work here in the US I'm an immigrant never been to school here I have a junior in HS that is planning to be a Pharmacist in college I put away some money for her but the more I've been doing research about college the money I save up seems like enough only for 2 semester so I know loan is the only way after that
@@edzamoracollegeprepchannel3820 Can I start paying it while she's still in college or I have to wait until I receive the final bill once she graduate?
Great video. This really helped me understand the benefits and risks associated with these loans. I like the idea of giving my kid “skin in the game”. I will gladly past this video to anyone I know needing clarity on this topic.
Hi I took out both unsub and sub loans. These loans are 5k per year and 20k in Total over 4 years. Im working on getting my computer science degree. Was this a good idea ? I come from a lower income family.
Hey Ed, what’s the typical interest rate on the amount that is not subsidized and what are the steps to getting those loans, I have already filled out the FAFSA back in march.
Interest Rates for Direct Loans First Disbursed on or After July 1, 2022, and Before July 1, 2023 Loan Type Borrower Type Fixed Interest Rate Direct Subsidized Loans and Direct Unsubsidized Loans Undergraduate 4.99% Direct Unsubsidized Loans Graduate or Professional 6.54% Direct PLUS Loans Parents and Graduate or Professional Students 7.54%
@@edzamoracollegeprepchannel3820 C’mon Ed…you can do a lot better than joining the legions of victim mentality RU-vidrs whining about the cost of college. It’s true that there are a lot of very expensive colleges out there, but guess what? You don’t have to attend them. My wife and I put $500 per month(total) into 529’s while our three kids were growing up. 18 years later by the time our oldest started undergrad we had $300k total saved(because of compounding stock market gains). In total we have spent about $400,000 and our three kids have zero debt. An MD, an MBA, and an MFT. Again no debt. How? Well besides saving money while they were growing up our kids went to Community College first, did not attend expensive private colleges, and(gasp) they worked while in school(with the exception of med school). We got zero need based aid along the way, but a lot of merit scholarships. Show me a graduate with six figures of college undergrad debt and I’ll show you a student and their parents who made a lot of bad decisions.
@@edzamoracollegeprepchannel3820 All in for three kids including professional degrees? C’mon, you know that’s a steal. Whole point was that with a little planning and some careful choices a family and their student does not need to borrow. If you *truly* want to help people then you will show them how to do college without borrowing. Or you can whine about the cost of college to parents and students who spend their discretionary income on cars, eating out, smoking drinking, etc and they will all gladly play victim with you. But that doesn’t help anything does it?
@@edhcb9359 Considering you had them go to community college and you got aid and it STILL COST $400,000 that's a a huge amount and I say that being a college advisor for 25 years having helped close to 250,000 families. College is too expensive
why?? what if were barely effing scraping by and need something in the savings to survive?? im working my f*cking *ss off and cant save anything for sh*t because its all too expensive. you probably have a black bald business dad that gives you money.
