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April 2, 2008, 5:02 pm PDT

Career Goals

Quote From: shadesofblue1

i would like to hear about peoples experiance with financial aid and sudent loans. Who has taken a loan out for a private school? or who got financial aid for a private school?

Well...I went to a public university but my advice should apply to those planning to attend a private school as well.  The most important thing I can tell you is to stay away from student loans as much as possible. It is very easy to qualify for a student loan but it can be much more difficult to repay than many people anticipate. For instance, I went through a Master's program (6 years) and borrowed roughly $20K. That really isn't a lot considering I put myself through college (with the assistance of financial aid). Anyhow, I had to work some low paying jobs to gain some experience for quite some time before I was able to break into my field. I was able to qualify for economic hardship deferrments and forebearances, but of course the interest continued to mount. I am told that I now owe $76K+. I really wish I had just taken lighter course loads so I could have worked more hours and used more of my own money toward tuition. It would have taken me longer to graduate, of course, but I truely believe it would have been worth it.
 


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