Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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- Posts: 3
- Joined: Tue Jun 16, 2009 8:53 am
I owe my dad about $5,000 (we split undergrad costs). Can i get more student loans to pay for it? I'm going to a state school with instate tuition, so the debt load wont be crushing. I just saw where you can request for more loans for purchases like computers, but they require a proof of purchase. thanks!
- Posts: 458
- Joined: Mon Mar 22, 2010 12:37 pm
lewis louis wrote:Not to thread jack, but how do you go about requesting more loans for a laptop purchase? Thank ya!
LL - I think you need to get in touch with the finaid office at your school and things go through them. You have to explain to them that you need a computer for school and they just bump your COL numbers.
OP, why can't you just let the loan with your dad ride for another three years? An interest-free loan from family is more desireable than paying interest on a bank loan for the next 10 years?
- Posts: 283
- Joined: Thu Mar 05, 2009 8:21 pm
Yeah, about owing your parents money, unless they are complete psychos I can't imagine that they won't let you defer the payments. The fed. lets you defer, so that should help you there. You can take out loans to pay for specific things like a computer, but you need to prove that you purchased it, then you fill out an extra form for an additional loan to cover that expense. Your school's FinAid office should be able to provide you with details.
- VA LawDog
- Posts: 29
- Joined: Sat May 29, 2010 11:23 am
Mr. Pablo wrote:Yeah, about owing your parents money, unless they are complete psychos I can't imagine that they won't let you defer the payments.
True. I wonder why OP is wanting to take out a loan to pay it off so soon.
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