Loans and NYU

milkandsugar
Wed, 25 Jun 2008 09:09:27 +0000

NYU gave my DD a FA package that contained, Perkins Loan, suggested Stafford loans, Federal work study and suggested Family plus loans. You do not have to accept any of there suggestions, but if you need loans the absolute BEST option is to take the federal loans, not a Private student loan. The perkins and subsidized stafford loans, the gov pays the interests while the student is in school. The federal loans are backed by the government and they also have deferrment terms as well as forbearance should something happen to the student. Also laws can change later down the road which may benefit the borrower. Private student loans are not dischargeable in bankruptcy. Many finance and money exerts say the private student loans should be considered absolutely lastr after the government loans.