Jul
14
14
Astrid asked:
I’m a freshman, and recieve $3,500 in loans for this school year. Is it wise to begin paying them off NOW if I’m able to, as opposed to waiting until after my grace period? Wouldn’t this enable me to not pay interest? What would be the disadvantages of this? Rather than making monthly payments, if I ever saved up enough, couldn’t I pay in large incriments?
How would I even go about paying them off? That’s an idiotic question, but my school’s financial aid office don’t answer anything.
*my loan is subsidized.
Sphere: Related ContentI’m a freshman, and recieve $3,500 in loans for this school year. Is it wise to begin paying them off NOW if I’m able to, as opposed to waiting until after my grace period? Wouldn’t this enable me to not pay interest? What would be the disadvantages of this? Rather than making monthly payments, if I ever saved up enough, couldn’t I pay in large incriments?
How would I even go about paying them off? That’s an idiotic question, but my school’s financial aid office don’t answer anything.
*my loan is subsidized.
Tags: Direct Loan, Financial Aid Office, Freshman, Grace Period, Incriments, Loan Question, Loans, School Year, Student Loan
July 14th, 2008 at 10:42 pm
Yes! Starting paying now while you don’t actually owe yet. I have a direct loan I am currently paying off. I left school so I had to start paying 6 months after I left. The interest will kill you if you don’t start paying what you can now. TRUST ME!!
July 15th, 2008 at 5:03 am
Don’t start paying them now……Pay them later because that way you could find many ways to pay them later on in the future..Every year money market changes
July 17th, 2008 at 1:16 am
you have 6 months after u graduate to start making monthly payments if u want to pay them off now to avoid interest rates u can do that !!! but why stress over the money now cause u might have to take some more loans before u r done!!! so i would wait and do the payments all together or just save now and when ur done with school just send the money back in!!
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