<p>If we would like to apply for complete student loans including tuition, board, allowance, books, etc… but we do not show financial need, will we still receive the loans? How does the interest on these loans work? Does the interest only begin accumualting after we finish college or grad/law/med school? Do we need our parents’ permission/signatures to receive student loans…if we cannot obtain this at what point can we apply for these loans without their signatures? do we need to be 18 years old?</p>
Only the subsidized Stafford loans have deferred interest (meaning interest will only accumulate after you’ve dropped below half-time enrollment in a school for more than six months – if you go directly to graduate school, your loans will be in deferral until you finish); on other types of loans and on unsubsidized Stafford loans, the interest begins to be due as soon as the loan is disbursed.</p>
<p>Those types of loans are in the student’s name, although I’m admittedly not sure what would happen if the student were under the age of 18.</p>
<p>If you need more loans than the per-year Stafford limit, I believe you generally have to use outside lenders and their terms regarding interest.</p>