Student loans

[riverfever]

When going for undergrad, loans are based on income level. I want to know if it's different for Masters. Is it pretty likely that anyone can take additional student loans for that? I was going to take some Continuing Ed. courses over the summer but I have to pay for them out of pocket (about 600 per). If I can just chill out until the fall and start Masters classes and take loans and be no worse in the pocketbook (for now), I'd rather go that route. If it makes a difference, I am planning on doing Masters classes online with University of Phoenix. Who has experience with them?

[XJ_Vikings]

my sister is getting her masters in phoenix, different school though. I seem to recall she had no problem getting loans reguardless of her income. I will ask her about it when she gets back from class.

[riverfever]

Thank you. It just doesn't make any sense for me to pay for classes over summer just to see a move on the scale in October when I can start in the fall with loans and make that move next January.

[frebius]

It makes no difference as long as your FAFSA hasn't changed. If you are making substantially more money then you ability for financial aid will probably go down as far as grants and Perkins loans go. But you should be able to get a run of the mill Sallie Mae Loan (I hate Sallie Mae) as long as you have good credit.

[footdale]

The income mainly determines if the loan will be subsidized by the gov't or not. This was for Stafford loans. There is a yearly maximum on those, I think it is around $8500 for grad students, but check with the financial aid office. I took out a loan my first year of grad school and only 10% of the amount was subsidized. This was with my wife having a full time job and I was getting a decent stipend from the school.

[ekulrenlig]

Look for some kind of an assistantship if you can. Sometimes you can get your tuition paid for plus a stipend.

[riverfever]

No can do. I'm a school teacher. I wish my district paid for it or did some percentage of reimbursement.

[XJ_Vikings]

my sister has a 40,000$ a year loan for 2 years that she got without issue. I do recall that she had to itemize what she expected in expenses, everything down to gas money

[riverfever]

Thank you sir. I'll know more tomorrow after I talk to the University.

[Beej]

Loans are great...until you and your wife somehow end up owing over 85,000.00 between you...

:bawl:

[riverfever]

STOP!! We don't like to look at it that way. We like the way it looks each month when we write the check. :rattle: