Student Loans
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I just had some general questions on these. If anyone can help that would be greatly appreciated. Here is my situation. I am going to be a freshman this fall at UND. I got approved for something around $2,000 for financial in some sort of a grant. Instead of paying for the other amount that will be left over right now out of pocket, can i take a student loan to cover it? How do these work? Pros/Cons. Anything anyone can tell me about this would be great. Thanks in advanced!
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I never paid for any of my college out of pocket immediately, so yes, depending on your (parents) financial situation it can be done. Now if you were only approved for $2k after filling out the FAFSA paperwork then you'll likely not be getting some of the govt loans I did and you'll probably be stuck looking at banks for the loan.
Cons... you'll be paying out the ass for the next 20 years of your life and if I take mine to term will be out a little over $20k extra on about $36k in loans.
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