# Advice on paying for school - US (non-stafford/perkins loans)

**URL:** <https://boards.straightdope.com/t/advice-on-paying-for-school-us-non-stafford-perkins-loans/164035>\
**Category:** In My Humble Opinion\
**Created:** [March 25, 2003, 3:51pm UTC](https://boards.straightdope.com/t/advice-on-paying-for-school-us-non-stafford-perkins-loans/164035 "2003-03-25T15:51:27Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Lsura](https://avatars.discourse-cdn.com/v4/letter/l/7993a0/32.png) [@Lsura](https://boards.straightdope.com/u/Lsura)\
**Post date:** [March 25, 2003, 3:51pm UTC](https://boards.straightdope.com/t/advice-on-paying-for-school-us-non-stafford-perkins-loans/164035/1 "2003-03-25T15:51:27Z")

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Has anyone taken outside loans (like the [Signature Student loan](http://www.salliemae.com/apply/borrowing/signature.html) through Sallie Mae)? If so, has your experience been good/bad/neutral?

I’d be looking at a maximum of _maybe_ $4,000 taken to cover expenses for this summer - this would be combined with my minimal summer financial aid (staffords were maxed out for fall/spring) and would let me fully cover my tuition expenses and rent/living expenses. I am hoping for a GA that would begin next fall - technically, it could begin this summer, but the tuition waiver does not kick in until fall 2003. Being able to take two classes this summer would make a huge difference in my workload for fall and spring next year or allow me to finish this master’s next spring instead of next August.

Help.

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**Author:** ![BonoVox](https://avatars.discourse-cdn.com/v4/letter/b/7cd45c/32.png) [@BonoVox](https://boards.straightdope.com/u/BonoVox)\
**Post date:** [March 25, 2003, 5:05pm UTC](https://boards.straightdope.com/t/advice-on-paying-for-school-us-non-stafford-perkins-loans/164035/2 "2003-03-25T17:05:39Z")

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Sallie mae has been known not to ever, ever, ever let go of a loan, so if you look to consolidate later, it will have to be through them. Also, be sure to get you in school deferment asap. If you can, pay something, even 20 dollars a month, on the loan while actually in school. You would be amazed to see how fast interest adds up when people let these loans stretch out for long periods of time.