Private College Student Loan

Help on Sallie Mae student loans?

Hi, I'm looking to get a loan on sallie mae. Could anyone help me out on the basics of getting a private student loan? here are some few questions i have. When I take out a loan, will I be applying for a specific amount I need? What if i ever get a random scholarship money? can I adjust the money I borrowed? and what's better between these two sallie mae loans? https://www.salliemae.com/student-loans/ fixed repayment or interest repayment loans. looking on getting a $14,000 loan

Public Comments

1. You can apply for a specific amount as long as you are enrolled and the amount can be justified and its based off credit. If you get a random scholarship the money can be adjusted if it hasnt been disbursed yet. The repayment plan depends on your financial situation now. Are you able to pay the interest while your in school? Or can you post pone the payments until you graduate and the interest be added to the principle (higher payments)?