| Archives
for mtuparent-L (discussion list)
Subject:
Student Loans
Thu, 19 Jun 2003
From: D.S.
My son Aaron will be attending MTU in the fall. Because he lives with
his mom and step-dad he is unable to get any financial aid. The income
and assets of the household is to high. Are there any student loan opportunities
available to him? I do not have the financial means for any large lump
contributions to his expenses. I am able to make small monthly payments.
Can anyone offer any suggestions?
______
From: Felnan
Shirley:
If they haven't already done so, his mom and step-dad need to file a FAFSA.
They should be able to get one at the local high school counseling
office or go to <http://www.fafsa.gov>www.fafsa.gov. Filing a FAFSA
will make your son eligible for a small government loan. Otherwise,
check with banks for student loans.
_______
From: S.M-L.
watch out for what they dont tell you about financial
aid covering books and supplies....we found out the
hard way that books and supplies were "included" in
the financial aid awards,,,,BUT they dont let the
students charge them to the award at the bookstore and
then deduct the charge later like many colleges
do...you have to have the cash up front or a handy
credit card when the student goes to get his books!
_______
From: R. J.
I would NOT recommend MI Loans. We currently have a
loan with them. They charge $175.00/semester for the
loan and had terrible service. Computer problems made
our account look past due and it took many phone calls
and then a nasty letter to straighten everything out.
Your local bank probably could provide you with a
better deal. One friend of mine used a GMAC credit
card to charge it and then hopes to be able to put the
points toward a vehicle after graduation! |
