Very complicated financial situation..

mom2collegekids
Sun, 09 Oct 2011 15:43:51 +0000

^^^

Sallie Mae now requires co-signers for good-sized loans. It may not require them for very small loans (but not sure). Sallie Mae caused a lot of problems a few years ago by letting kids borrow large amounts without co-signers. And, they now require “interest-only” payments while in college (to prevent interest from further jacking up the debt)

I can’t imagine having a student take out private loans to pay for college but especially to pay for the first 2 years…that’s just so unnecessary for a student (and risky).

You’re a New Mexico resident. Did you get any scholarships or aid for your current school? If so, how much?