Never sign up with Sallie Mae - go directly through the Dept. Ed.

Discussion in Loans started by Esperahol • Mar 10, 2014.

  1. Esperahol

    EsperaholActive Member

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    I've seen some things on here regarding student loans being a scam or whatever, but here is the thing. If you went through your school's financial aid department you should be okay. The reason I say this is because you will have to submit a FAFSA and then you will be offered things several options including both Grants (which you want) and Loans (which you don't want) and possible Scholarships (which you definitely want) from both State and Gov and School. In fact you may qualify for things you didn't even know you could get like the S.M.A.R.T. grant which I personally got for being a double minority studying science.

    Even if you don't (somehow) qualify for that - you still shouldn't go with Sallie Mae because there are private companies you can go to instead that if worse comes to worse you can loose via bankruptcy. Bankruptcy does not work on Sallie Mae. She will follow you to the grave if need be and then some. Go to Discover, go to Capitalone, go just about anywhere but Sallie Mae. But before all that try your best to qualify for a loan through the Dept of Education. It's honestly you're best bet if you have no other way to pay for school. They will work with you and there are many programs to help you through hard times. Just avoid Sallie Mae.
     
  2. LindaKay

    LindaKayActive Member

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    I agree. It's definitely important to fill out a FAFSA. Even though you might not want student loans, getting them through the government is a lot better than dealing with big banks. The interest rates are lower, and the government even pays your interest while you're in school if you get a subsidized loan.
     
  3. jneanz

    jneanzActive Member

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    This is good to know. There was a class series offered by the local university that I was interested in but unless a person had $1600 laying around, financing was necessary. When I began to inquire, they recommended Sallie Mae and Wells Fargo. The latter wasn't happening because I still owe on a credit card but considered Sallie Mae. I held off because I wasn't sure if the investment would have a quick return because most employers want a degree and a certificate.