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Freightliner
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College loans  Reply with quote  

I applied for FAFSA, and just received an email saying I'm eligible. It says I have access to a PELL grant of about 1,500$, and a direct subsidized for 1,750 this semester. What are these kinds of loans and do I need to repay them? I work full time and am starting classes at a community college for the first time this semester. I'm taking two classes. What are some things I should know to be safe financially, and how do these loans work?
Post Thu Jul 30, 2015 2:22 am
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Freightliner
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Bump
Post Thu Jul 30, 2015 3:53 am
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Wino
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Pell grants need not be paid back. They are grants. All loans, subsidized or not, must be paid back. I suggest you find another way to earn the $1750 rather than taking a loan. I'd say about 40 days delivering pizzas at $50 per night in tips (you should be able to get that anywhere) will pay for your gas and get you the cash to cover most of the loan.
Post Thu Jul 30, 2015 2:43 pm
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littleroc02us
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My first degree (BA in Liberal Arts) was an expensive good time with very little job prospects. I was able to pay those loans 10 years later and it was awful. Then in my late twenties I went back to a technical school and got my computer networking degree for 5k a year. I was able to work 4 days a week full time and go to school fulltime and exited school with almost no debt. So IMO, do whatever you can (scholarships, grants, work) to not take out any school loans.
Good luck.

Risk comes from not knowing what you're doing. (Warren Buffet)
Post Thu Jul 30, 2015 3:32 pm
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