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Student Loans
Posted on 8/25/26 at 10:23 pm
Posted on 8/25/26 at 10:23 pm
I’m really trying to find the best company with lowest interest rates to help my son with college tuition by getting a student loan. Several years ago my health took a turn for the worse and it put me and my family in some financial dept. My son was able to receive several scholarships, but it doesn’t help cover the semester tuition as a whole. Any help or advice would greatly be appreciated. TIA
20
Posted on 8/25/26 at 10:34 pm to chadzthename
Do not take a private loan out for college. Those stories about baristas in $250k of college debt for undergrad? Those are private loans.
Posted on 8/25/26 at 10:37 pm to chadzthename
Currently in med school and taking out federal student loans. IIRC the federal loans have lower interest rates compared to private loans. But these days, all rates are pretty high. Direct Subsidized Loans are specifically for undergrads with financial need. I've heard a lot of people take out federal loans, then refinance with a private loan company when rates drop
This post was edited on 8/25/26 at 10:40 pm
Posted on 8/25/26 at 10:39 pm to NIH
Also, make sure your son is doing something that makes sense. Getting loans for an engineering degree from your state university or medical school? OK
Getting a loan to go to U of Chicago or Columbia to study English literature? Please think twice
Getting a loan to go to U of Chicago or Columbia to study English literature? Please think twice
Posted on 8/25/26 at 10:41 pm to WestCoastAg
quote:
Also, make sure your son is doing something that makes sense.
Second this. Do not go into debt for a worthless degree
Posted on 8/25/26 at 10:41 pm to chadzthename
How much per semester does he need?
He can get some government loans on his own
Beyond that it’s parent plus or private but both are credit decisions
If you apply for parent plus and get denied, he can get 4K/yr more on his own
He can get some government loans on his own
Beyond that it’s parent plus or private but both are credit decisions
If you apply for parent plus and get denied, he can get 4K/yr more on his own
Posted on 8/25/26 at 10:54 pm to WestCoastAg
quote:
Getting a loan to go to U of Chicago or Columbia to study English literature? Please think twice
Still financially feasible if the goal is getting into a T14 law school, which both Chicago and Columbia have.
Posted on 8/25/26 at 11:13 pm to chadzthename
DO NOT go with private loans. Go through federal student loans. They are way more forgiving when/if ever in need. Private loans are going to want their money, even when you drop dead.
Posted on 8/25/26 at 11:18 pm to chadzthename
Also, tell him to get a public service job upon graduation ie Governemt, etc.
If he makes 10 years of payments, those loans get forgiven.
It’s called PSLF.
If he makes 10 years of payments, those loans get forgiven.
It’s called PSLF.
Posted on 8/25/26 at 11:27 pm to Roy Curado
quote:
DO NOT go with private loans.
Why are the terms that different?
Posted on 8/25/26 at 11:29 pm to chadzthename
National guard.
Posted on 8/25/26 at 11:37 pm to JS87
quote:
Also, tell him to get a public service job upon graduation ie Governemt, etc. If he makes 10 years of payments, those loans get forgiven. It’s called PSLF.
Terrible advice if the kid has drive. Give me the ability to actually climb a corporate ladder/company and make real money. 10 years in public service and sure, remaining loans can be paid off. But making $70k a year after 10 years? And then no useable experience to translate to the private sector? It's a waste.
Posted on 8/25/26 at 11:45 pm to armytiger96
Federal loans typically have a set fixed interest rate whereas private loans will be variable based on perceived credit worthiness
Federal loans also typically are a lot more forgiving when it comes to repayment vs private loans
Federal loans also typically are a lot more forgiving when it comes to repayment vs private loans
Posted on 8/25/26 at 11:47 pm to chadzthename
My advice is having your son get a part time job to supplement tuition expenses where he could get as little of a government student loan as needed after budgeting for what he needs each semester. If he’s already doing this and income is already going towards non tuition needs, the government student loan is really the best option.
You should also look into applying for Pell Grants.
You should also look into applying for Pell Grants.
This post was edited on 8/25/26 at 11:49 pm
Posted on 8/26/26 at 12:07 am to Indfanfromcol
Terrible advice to avoid these jobs. Ten years and student loan forgiveness. Also, the benefits in a whole is great too. Pensions, medical, dental, job security, and work life balance are just a few things that make these jobs worth it
Posted on 8/26/26 at 6:52 am to tigerbacon
quote:
Terrible advice to avoid these jobs. Ten years and student loan forgiveness. Also, the benefits in a whole is great too. Pensions, medical, dental, job security, and work life balance are just a few things that make these jobs worth it
I made 3 times what a 15 year state auditor made at like 27.
Posted on 8/26/26 at 7:06 am to Mingo Was His NameO
quote:
I made 3 times what a 15 year state auditor made at like 27.
No you didn't.
Hell, GS-11 step one in rest of US (lower locality pay) at the IRS, meaning a just a few years of audit experience and a certificate is 74k. And a year later you automatically move to gs-12
And CPA is not required for IRS fyi
State auditor in Mississippi, generally a lower income state, STARTS at 51k
Why lie?
Posted on 8/26/26 at 7:08 am to StTiger
quote:
State auditor in Mississippi, generally a lower income state, STARTS at 51k
Yep. And average Comptroller auditors in Texas make about $80k. Managers (which often have 20+ years experience) make like $120k.
Senior associates in public accounting make nearly $120k and they’re like 24.
This post was edited on 8/26/26 at 7:12 am
Posted on 8/26/26 at 7:08 am to NIH
You really, really don’t want to take out private student loans. Federal loans are the only way to go.
Posted on 8/26/26 at 7:23 am to chadzthename
Another option is for you to show your butthole on OnlyFans to help him out.
This post was edited on 8/26/26 at 7:23 am
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