Need money for college

[Claudio F]

I need money for college. Is it better to get a line of credit or a FAFSA student loan?

[Idalia B]

In my best opinion, and I'm speaking from personal experience, go with the FAFSA loan. They are usually good, you can later on get a lower interest rate, and you don't have to pay them back till 7 months after your college graduation. You can also get discounts on them if you do good in college. If you're looking for ways to find more money for college check out my published article below on how to do that! Good luck!

[Heather J]

I agree with what the first person wrote about taking a Stafford or Perkins loan (which are the ones you are talking about with FAFSA loans) over using a credit card, but I would like to correct some of what that person wrote.First of all, the date you have have to begin paying back your federal loans (FAFSA loans) depends on the loan. If you take out a Stafford loan the repayment begins SIX months after you are done with school unless you consolidate in which case you start paying them back immediately after you are done with school. With the Perkins loan, you start paying back NINE months after you are finished.Also, you do NOT get a discount on these loans with good grades. That has no bearing on your interest rate or repayment at all.I worked in a college financial aid office for three years so I do know what I'm talking about. Also, if you have any other questions about financial aid, your school's financial aid office would be your best resource.

[DanceCat Squiggy]

I agree with the first two people. They are very easy and lenient to pay back much Unlike creditors.