Timeframe for College Student loan --questionish..?

I was wondering what the timeframe is on getting approved or whatever for federal loans, I just filled out the FAFSA today, but I'm not sure how long it will take to get back to me, Do I need to apply for a private loan right now because the deadline is so quickly approaching? or have i just royally screwed myself, and even that path will take too long..?

Tuition is 'due' August 20 at my university, but I can just eat the late payment fee.

I have also signed up for a payment plan, so I will only need to pay around 3000 by August 20, I have 1600 that i've saved up all summer, and my parents and relatives cannot help with the remainder.

I'm not even sure if the FAFSA will approve me for anything.. My father lost his job of 25 years, this last apri, so even though our combined income for 2006 was around 70k, there was no money set aside for me for college, and they are now struggling to even pay the bills, but it doesn't look bad on paper. :/

In conclusion what steps should I take?

Timeframe for College Student loan --questionish..?

In all honesty you should look at taking out a private loan. The reasoning is this will be the fastest way to get the money you need. If you JUST filled out the FAFSA today then it will be a while before you find anything out. Yes the schools pretty much do the work for you, but you have to contact the financial aid office at your school to get things moving and to be honest I have no idea how long it will take from there. If memory serves me right it took few weeks before my fiance knew how much she was going to get. Now there are TONS of private student loans out there, and pretty much all of them offer decent amounts of money and good repayment plans.

The question is do you have good credit history or a cosigner with good credit history willing to sign their name? If so you can apply and pretty much anywhere you want online (I would recommend Astrive) and they will approve you within 24 hours. Once approved they send you a credit agreement (either my email or mail it is up to you) and you can print it out and fax it back or even give a digital signature. Then it should take another 24 hours at the most to get final approval and your funds can be available within 5 business days.

Now it isn't so much as %26quot;getting screwed%26quot; as it is what is the price you are willing to pay for the loan. For example I needed a loan for my tuition and like you didn't have parents to help me out. My dad also made too much money so I didn't get any federal aid. With my private loan I chose a full deferral and a 5 year repay, so I am accumulating interest the whole time until I pay the loan back (including the years while I am still in school, a total of 7 years of interest). However I don't have to make any payments until 6 months after I graduate. Now I end up repaying almost double what I took out on the loan due to all of these circumstances but I will have a degree in a field where I will be making triple, almost quadruple what I currently due so it is worth it in the long run.

When you don't have many other choices (from what is sounds like you don't) a private student loan is a great option. Just make sure you can pay it back after you graduate. You can usually have up to 20 years to repay, however, again you will be paying interest the whole time you are repaying the loan. So the faster you pay the less interest.

Timeframe for College Student loan --questionish..?

Wow should of filled out the FAFSA alot sooner. It will not be ready by AUG 20th. As for taking a private loan Im not sure how quickly you would be able to muster up the cash. I would highly reccomend not getting a private loan however because they can be tricky and you could get screwed. My dad makes about the same and I didnt get any help. Well that is because I owed less then 6000 a semester. If you owe more then 6000 a semester you might get some help. But then again you waited to long to fill out your FAFSA I reccomend filling it out in March or April next year.

Timeframe for College Student loan --questionish..?

I have recently heard that they changed the rules at some schools

Yet, I think that if you filled out that FAFSA, they are supposed to get that loan or grants for you. AND, THEY should have to wait till the gov pays them.

You will have to consider money for books, probably $100 per course these days. Sometime sthe library has em, public or the school library, sometimes request em and they can get em. Try to get em on amazon to or from last years students, sometimes they change the edition from 35 to 37 and change 3 words so they can sell more and to prevent resale of the books.

In a pich, borrow another students book and copy the pages you need on the copy machine. Often, RESERVE gas a copy or two. Sometimes things are online in 'lectronic versions.

Good luck. Sit in the financial adid office till they make you sure its paid for. Make em wait as long as you have to.

Timeframe for College Student loan --questionish..?

%26quot;I'm not even sure if the FAFSA will approve me for anything.. %26quot;

well, all is possible, you can, come on! you are beautiful person.

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