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If you have a full ride, why on earth are you doing PAYE/LRAP?

The only place where you'll get loans above COA is private side, and those obviously wouldn't go away with PAYE/LRAP regardless. So instead of getting a car loan at 2-4% you'd get a student loan at 8.8%? Bad, bad idea.

See if your parents can spot you the difference for payments you can't make and then STOP BORROWING.

sorry.

hope this helps.

twenty wrote:If you have a full ride, why on earth are you doing PAYE/LRAP?

The only place where you'll get loans above COA is private side, and those obviously wouldn't go away with PAYE/LRAP regardless. So instead of getting a car loan at 2-4% you'd get a student loan at 8.8%? Bad, bad idea.

See if your parents can spot you the difference for payments you can't make and then STOP BORROWING.

sorry.

hope this helps.

No, you can get above COA on the fed side, but I am pretty sure you have to have a non-stupid reason

I took out a line of credit to supplement my student loans in case of an emergency. I was pretty nervous about running out of cash during law school so I got it just in case. It should also cover my Bar loan if I can't find one with a lower interest rate.

Try going through a credit union, you may find something decent.

yeah, but not for a car dude. sometimes they'll give you a few hundred for mileage though.

either way it's stupid to borrow money at 8.8% unless you're going full potato PAYE/PSLF. Even on 72+ months for a car loan OP can get 4% or so.

Why someone with no savings and no income for the next 3 years would puirchase a $15K car is beyond me. And don't take out student loans to pay for a car. That is not smart. At least get your parents to cosign car loan if your credit is awful (which it probably is).

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Sell your car and get a 10yo Civic. And stop making terrible financial decisions.

Well at this point selling the car would be a terrible financial decision, but you just have to actually make money over the summer. I can't imagine how you already committed to working a PI internship next summer if you aren't even enrolled in school yet. If you are definitely going that route, it sounds like you may have to work another job, which kind of stinks but its pretty manageable.

If your school has a summer practicum or offers distance/night summer classes, you may be able to take out loans for the summer, but that would be instead of a stipend, not in addition to it. Also get a cheaper apartment and do the math to see if it's possible to live frugally and stretch your loans out for 12 months instead of 9.