Fiancial aid - loans! please help

<p>my ePAL "meeting net costs" states the following:</p>

<p>Direct Subsidized Loan + $5,500
Direct Unsubsidized Loan + $1,746</p>

<p>So, this means that i qualify for that amount in loans, right? But are these loans offered from the school or from banks?</p>

<p>'Cuz i was wondering if I can go to my bank and ask for a student loan (aside from the one above) because i'm not sure i'll meet the required amount.</p>

<p>I guess my question is whether the bank loan is entirely seperate from the loan offered in ePAL? </p>


<p>you usually can't just "get" a private bank loan. You have to go through the school first.</p>

<p>And, yes, direct loans are separate, especially starting this year, as you are borrowing directly from the fed.</p>

<p>oh, ok so i would have to talk to the school before applying for a student loan at the bank?</p>

<p>Thanks very much for the help btw! :)</p>

<p>yes, but you can only get as much as the your total cost of attendance is. Are you trying to get a private loan in place of a PLUS parent loan?</p>


<p>The loans you have received are both under the federal student loan program. However, the fed govt only pays the interest on the subsidized loan while you are in school. If its at all possible to avoid the second loan, I would; as interest will accrue while you are in school, and if you are say a frosh that is a long time, especially if you are going to follow undergrad with grad school.</p>

<p>@ the ocmom - if the OP is looking for "private loans" he most likely needs unsubsidized loans... </p>

<p>@ OP- Ucla offers Private loans and these are available through the financial aid office. They usually require a cosigner and are dependent on credit.. </p>

<p>good luck.</p>

<p>so do i have to wait until the eFAN comes out to apply to these loans? because i'm scared if I apply to late I won't have enough money to meet the payment deadlines</p>

<p>yes. if they dont give you aid money by the deadlines you don't have to pay.</p>

<p>until you receive the money, that is.</p>