Question Dealing with School Loan Advice Needed.

[tekno99]

Hey Fam, I need some quick advice from those in the know.

My current job pays for 100% of your education including books and labs. The only catch is that I have to pay for the semester 1st and pass before they reimburse me.

I really do not want to use any of my money to pay for this mainly because its kind of expensive. What are some things that you all have done when the company pays you back after you pass?

Get a private loan? Put it on a credit card? What did you do?

Thanks in advance for the help.

 

[GT2BK007]

See if your credit card company would give you 0% interest or lower your interest rate for 4 months. Use the credit card and then pay it off when you get the reimbursement. The key is to not have any interest. A private ED loan might be a better option as long as they don't penalize you for paying it back early.

 

[Dwayne Wayne]

Dude take out a federal loan and when you get the money from your employer just apply it to the loan balance. You have to fill out a FAFSA first. as long as you don't have a drug conviction they won't turn you down.

 

[tekno99]

with the fed loans, dont you have intrest to pay as well? Good idea gt2, im going to have to look into that.

 

[Dwayne Wayne]

with the fed loans, dont you have intrest to pay as well? Good idea gt2, im going to have to look into that.

Subsidized: the government pays it
Unsubsized: you are responsible but you can defer till you finish school. any way @ 6% or less its a good deal if you need it.

You can get up to around 10000 a year subsidized