College Loan Question?

I really would like to go to culinary school, but i%26#039;m paying off a student loan already for my first bachelors, and was wondering if there was a way for me to go again, if not for free, for possibly a low rate? I%26#039;m looking into Le Cordon Bleu here in Atlanta, GA as it is local, and I can%26#039;t afford to move anywhere at this point in time. Any hints or tricks would be welcome. Thanks!!

College Loan Question?

It%26#039;s important to know that the government only offers Pell Grant funding for students who have not yet received a Bachelor%26#039;s degree. So, even if you show as much or more financial need this time around, there will be some types of funding that will be unavailable to you now. If you%26#039;re considering entering a graduate program, there is almost no grant aid available to you but you WILL be eligible for a lot more loan funding than you were as an undergraduate.

Most federal student loan rates are set by the federal government. The current Stafford rate is fixed at 6.8%, Perkins loans are still 5%, and PLUS loans are fixed at 8.5%. These rates are here to stay (at least for the forseeable future) and, although they aren%26#039;t super-low, they%26#039;re still sub-prime.

Your best bet at this stage is to apply for federal student aid by filing the FAFSA and take advantage of the many lenders competing for your business. When you are offered a loan, you will be given the opportunity to choose your lender. Do your research into the different lenders%26#039; benefits and choose one that appeals to you. Some lenders offer interest rate breaks after a certain number of on-time payments; others offer principal credits and interest rate incentives for EFC/automatic repayment. Sallie Mae, Citibank, and Bank of America all have interesting Stafford Loan benefits. College Board and AFC have nice-looking PLUS loan benefits. Just pick one that works best for you, given your lifestyle.