Do you need a cosigner for Grad Plus loans? Forum

[BarbellDreams]

I know Staffords max out at 20,500 per year. The rest people generally cover with Grad PLUS loans. I know I don't need a cosigner for the Stafford, but do I need one for the PLUS loans?

Also, I already have about 20K of Staffords from Undergrad, will this in any way affect my ability to take out staffords for law school?

[ryguy]

Only if your credit is really really bad.

[im_blue]

Only if your credit is really really bad.

Or an international student (not U.S. citizen or permanent resident).

[Doritos]

Only if your credit is really really bad.

And by bad he means bad. Not the FICO score mind you but i'm talkin' liens, bankruptcy, discharges, and open collections that are over 90 days old.

[BarbellDreams]

SOunds good, how about my second question?

WIll having taken out about 20K is staffords during Undergrad not allow me to take out the 20K per year of staffords in grad school?

[ryguy]

Not at all, those will be for grad school.

[TTTennis]

http://studentaid.ed.gov/students/attac ... oansQA.pdf

Check this out, it will answer your first question. I am almost positive your UG loans will not affect your ability to take out additional grad loans.

HTH

[clint4law]

what are the interest rates on these loans if you have good/excellent credit?

[TTTennis]

what are the interest rates on these loans if you have good/excellent credit?

Almost positive your credit score does not affect your interest rate on federal loans. If you decide to take out private loans, that is a different story. For Grad Plus loans I think the interest rate is somewhere around 8%.

[clint4law]

what are the interest rates on these loans if you have good/excellent credit?

Almost positive your credit score does not affect your interest rate on federal loans. If you decide to take out private loans, that is a different story. For Grad Plus loans I think the interest rate is somewhere around 8%.

where can one get private loans from? what are the most reputable firms?

[TTTennis]

what are the interest rates on these loans if you have good/excellent credit?

Almost positive your credit score does not affect your interest rate on federal loans. If you decide to take out private loans, that is a different story. For Grad Plus loans I think the interest rate is somewhere around 8%.

where can one get private loans from? what are the most reputable firms?

I believe most of the major banks provide private student loans. I know Sallie Mae and Wachovia provide private student loans. Google it for a more accurate answer.

[BarbellDreams]

Is there ever a reason to take out a Private loan over a GradPLUS loan?

[TTTennis]

You can't get a GradPlus loan or your credit is so great that you can get a lower fixed interest rate. Don't see many other advantages.