Alberto Said:

Can I consolidate undergraduate student loans and get them deferred while in graduate school?

We Answered:

Yes, you can do that. Consolodate them whenever you need to. Then they're automatically deferred while you're in school if you consolodate with sallie mae and you're going to school that reports your status. If you consolodate with Sallie mae, you can go to their website and find out if your school participates. Even if they don't it's a simple application for deferrment and you'll definitely get approved if you're still in school

Jennie Said:

Undergraduate student loan deferment for grad school?

We Answered:

Yes. You should call or go to the website of each of your lenders or loan servicers and request an in-school deferment. You'll just have to show that you're enrolled or scheduled to attend grad school full time.

Allan Said:

are there undergraduate student loans with lower interest rates than the Direct PLUS Loan?

We Answered:

Yes there are Undergraduate Student Loans that have a lower interest rate than the Direct PLUS Loan, but it really depends on who is taking the loan out. Are you a parent taking out the loan for the student? Or are you an Undergraduate Student?

The Direct PLUS Loan is designed to be taken out by the parent of the student, who ends up being the beneficiary of the loan disbursement amount, but the parent is really the one on the hook for paying off the loan.

If you are an Undergraduate Student, there are two more options you could explore when looking for a low interest rate student loan; the Federal Stafford Loan and the Federal Perkins Loan. Both of these loans are need based, not credit based, and require the filing of the FAFSA form.

As of July 1st, 2006; the Federal Stafford Loan is issued with a 6.8% FIXED interest rate, previous to July 1st, 2006 Federal Stafford Loans were issued at a VARIABLE interest rate. Federal Perkins Loans are issued at a 5% FIXED interest rate. I hope this made it a little clearer for you, for more information on Federal Stafford Loans and Federal Perkins Loans visit the source below.

Jim Said:

Is it possible to apply for an undergraduate student loan BEFORE being enrolled?

We Answered:

Yes, you can apply in advance, but you will not receive the money until you are officially enrolled.

There are two types of private student loans - those where the loan is "certified" by the school and the money is disbursed to the school (such as the Sallie Mae Signature Loan) and the type where the student shows proof of enrollment and the money is sent directly to the borrower (such as the Sallie Mae Tuition Answer Loan). Either way, you will need to be fully enrolled before the money is sent. So, you can apply now, but there probably isn't much advantage to doing so.

Eddie Said:

I am looking for a undergraduate student loan... I need extra money for rent, books, food, gas etc?

We Answered:

Did you submit a FAFSA? If so, you should be eligible for some sort of government loan.

If your family is lower income, you could be eligible for subsidized loans (that don't charge you interest until six months after you graduate), but regardless of family income you should still be able to get low interest student loans. Stafford undergraduate loans are not based on your credit, so you wouldn't need anyone to cosign, and they will have the lowest interest rates around. I would talk to the financial aid office at your college to see if you can get things moving with these types of loans (which you are authorized to use for things like books, transportation and room/board) before resorting to private loans. If you are not able to get government loans, the financial aid office would likely know of the most reasonable alternatives.

Good luck!!