Housing Loans

(housing, friendships, future exams, all things 2012)
meraz
Posts: 3
Joined: Sun Aug 02, 2009 12:10 pm

Housing Loans

Postby meraz » Sun Aug 02, 2009 12:14 pm

Is there a loan people reccommend to use towards housing?

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Georgiana
Posts: 647
Joined: Wed Jul 22, 2009 5:42 pm

Re: Housing Loans

Postby Georgiana » Sun Aug 02, 2009 12:37 pm

meraz wrote:Is there a loan people reccommend to use towards housing?

I use gov loans + institutional loans + grad plus loans for everything (tuition, food, housing, bills)

meraz
Posts: 3
Joined: Sun Aug 02, 2009 12:10 pm

Re: Housing Loans

Postby meraz » Sun Aug 02, 2009 12:52 pm

could you be more specific? I have used the Stafford and Grad Plus for tuition and at 8.5% for the grad plus, i don't want to use that for housing. Also, the way the Grad Plus is worded i thought it could only be used towards tuition

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jaudette
Posts: 56
Joined: Fri Oct 10, 2008 8:52 pm

Re: Housing Loans

Postby jaudette » Sun Aug 02, 2009 12:55 pm

I'm not sure I understand you question. Treat all law school expenses the same using the following hierarchy:

1.Subsidized Stafford
2.Unsubsidized Stafford
3. Perkins (If Available)
4.Grad Plus
5. Private

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Georgiana
Posts: 647
Joined: Wed Jul 22, 2009 5:42 pm

Re: Housing Loans

Postby Georgiana » Sun Aug 02, 2009 12:55 pm

meraz wrote:could you be more specific? I have used the Stafford and Grad Plus for tuition and at 8.5% for the grad plus, i don't want to use that for housing. Also, the way the Grad Plus is worded i thought it could only be used towards tuition

I have subsidized and unsibsidized stafford loans, mckean loans, perkins loans, and grad plus loans. Grad plus can be used to cover up to the cost of attendance which includes housing and everything. If you don't want to use any of those, you can look into private loans from your lender if you have good credit.

meraz
Posts: 3
Joined: Sun Aug 02, 2009 12:10 pm

Re: Housing Loans

Postby meraz » Sun Aug 02, 2009 1:07 pm

Thanks for your help, I will take a look at those other loans.

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srb
Posts: 62
Joined: Sun Dec 21, 2008 12:49 am

Re: Housing Loans

Postby srb » Sun Aug 02, 2009 1:14 pm

meraz wrote:could you be more specific? I have used the Stafford and Grad Plus for tuition and at 8.5% for the grad plus, i don't want to use that for housing. Also, the way the Grad Plus is worded i thought it could only be used towards tuition


While the 8.5% is steeper than one you might be able to get from a private lender, it is still probably a better choice for many reasons. It's fixed rate, there is no penalty for early repayment, you can stop paying for a period if you need to bc of lost job or what have you, you can pick what repayment structure you like, etc.




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