Uhhhhh I would be VERY INTERESTED in knowing where and how you can get a NO INTEREST student loan, or any type of loan for that matter. Most likely it means no interest accrued while you are in school, but you have to pay interest once you start paying it off. Even my 5% interest loans add up per year, nearing a grand a year (which luckily can be tax write offs). Once you are out of college you will want those loans gone ASAP, regardless of interest.
I have a friend who has his set up like that - I originaly had Sallie Mae (evil bastards) but when I refinanced last year all the rules changed. Now, my monthly payment is like $200, but he interest is calculated quarterly, and then divided by the number of months in the quarter. So out of $200, like 180 is going to pure interest, and then whatever else I pay is all principal. What I do is pay the minimum which takes care of the interest, and then I write a Principal Only check for whatever else I can pay. Im still paying loads of interest that way, but at least the additional check is slowly knocking the principal down. Dunno, it confuses the hell out of me... I just like to make 3d
I asked a rich guy about it once - his advice was to pay for school with cash. REAL FREAKING HELPFULL Richguy lol
The way I understood it was you accumulate interest on loans while you are in school, you can either choose to pay that interest while in school, or wait until you're done and once you start the official payment plan usually 3-6 months after graduation, you first have to pay off the large amount of interest you accrued during school BEFORE starting on the principle.
Uhhhhh I would be VERY INTERESTED in knowing where and how you can get a NO INTEREST student loan, or any type of loan for that matter. Most likely it means no interest accrued while you are in school
Thats probably it, see why I through in the disclaimer about financial aid keeping me in the dark.
Talbot, that's a sweet ride. I wish I still had time to mountain bike. Bought a Rocky Mountain Hammer (Steel hardtail) a few years ago, but only really get to use it as an expensive commuter bike due to lack of time.
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oooh baby. Gives me goose bumps just looking at it.
.... you should pay off some of your loan i think ... seriously students shouldn't have to pay for their education who came up with this fucked system
I asked a rich guy about it once - his advice was to pay for school with cash. REAL FREAKING HELPFULL Richguy lol
-N
Thats probably it, see why I through in the disclaimer about financial aid keeping me in the dark.