Wednesday, May 26, 2010

Sallie mae?

I applied for a student loan at sallie mae..and somebody told me if you dont have a cosigner they wont give you more thatn 2000 dollars for freshmen. Then other people say they will give u up to 40,000 dollars..Should I just call sallie mae and talk to a person on the phone? Ug I need help



Sallie mae?

It sounds to me like you are applying for a private loan for college, but have you considered looking to the government for help?



If you have not already, you should look into Federal Student Loans, which have one of the lowest interest rates out there for Student Loans. This is because they are backed by the Federal Government and also come with Federal Benefits that Private Student Loans don't have.



Your Federal Student Loans can be used for travel expenses, books, food, school supplies, etc. The amount that you are approved for and you agree to borrow will be disbursed starting with your tuition costs for that semester, then moving to your room and board if you live on campus, then satisfying any other school fees you may have. Any left over funds will be sent to you, usually in the form of a check. You will be able to do whatever you wish with these funds.



You are eligible for Federal Student Loans as long as you are attending school at least halftime. If you are below halftime status as a student, you will not be eligible for Federal Student Loan help. Your status is determined by the school and the amount of credit hours you are taking during a given semester.



For more information on Federal Loans and the FAFSA application, please visit the source below. Good Luck and I hope this helps!

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