Under any circumsatnce good to go w/ private loans?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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scifiguy
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Under any circumsatnce good to go w/ private loans?

Postby scifiguy » Fri Jan 18, 2013 9:47 am

It seems like most people go with government school loans for law school.

Are there any circumstances under which it is a good idea to go with private loans? I know that paopel have said that the rates may be adjustable and can hurt you later in interest. But suppose a person has a very low expected loan need (maybe b/c of a scholly and savings, etc.) of like $30K. Would that situatoin or any other make private loans better?

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dingbat
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Re: Under any circumsatnce good to go w/ private loans?

Postby dingbat » Fri Jan 18, 2013 9:57 am

scifiguy wrote:It seems like most people go with government school loans for law school.

Are there any circumstances under which it is a good idea to go with private loans? I know that paopel have said that the rates may be adjustable and can hurt you later in interest. But suppose a person has a very low expected loan need (maybe b/c of a scholly and savings, etc.) of like $30K. Would that situatoin or any other make private loans better?

Just like study abroad, the only time it is not bad advice is during 3L year after you have a job offer secured

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h_jane_w
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Re: Under any circumsatnce good to go w/ private loans?

Postby h_jane_w » Fri Jan 18, 2013 10:58 am

If it's a family member offering you lowest interest rate possible.

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A. Nony Mouse
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Re: Under any circumsatnce good to go w/ private loans?

Postby A. Nony Mouse » Fri Jan 18, 2013 12:13 pm

Doesn't IBR only apply to federal loans?




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