Private College Student Loan

How do college loans work?

I am currently looking for a college loan and have applied for an Education One Loan through Chase. The terms are full deferral with 4.5 Deferment Period Margin. 4.5 Repayment Period Margin and a 7.50 Loan Origination Fee Percentage. Interest is Accrual beginning on Disbursment date on each day divided by number of days at the Variable Rate. The Variable Rate is the Current Index plus a margin. Does this mean my interest is 7.95 (market) and 4.5 Margin..eg. 12.5% from the origination fee of 7.5%? I need help understanding how much this is going to cost after college. Regards, Bryan agreed. i dont want to get anally raped either. it seems like 12.5% yearly rate and a 7.5% charge on the front end. Seems high..although it is a private long term loan. I figure 14% a year in the stock market..with a trust fund building. I dont want to pay 200% in 5 years. That would be extremely high. I need this in a quick figure so I can figure out my best option. Not worrying about it...is why im getting the college loan. obiously...im looking for a private loan. i dont want to have the restrictions of a federal loan. im a rich kid. i dont live cheap.

Public Comments

1. Just go to college...and worry about how you will be able to pay it all back when you are done. You can't put a price on your education.
2. They are very low interest and do not have to pay back the loan until 6 months after you stop going to school. NOT WITH A BANK NO NO NOT WITH A BANK NOT WITH A BANK NOT WITH A BANK NOT WITH A BANK NOT WITH A BANK NOT WITH A BANK NOT WITH If the WEB SITE IS IN YOUR INTEREST IT WILL HAVE ----------.edu.gov or ed.gov. or end in federal.gov. There is no application fee and there are humans who can help you, too! The rate should be under %5 and even if you geta B.A. you can go for anoothe B. A. as long as youv maintain the requirements below: In Spring and Fall you MUST maintain a C average and go to school at least 1/2 time ( 6 units/credits). Do not seek a money lender, call up any Financial Office in any college and they will give you 3 different companies, at least 2 of which will invest in your future. You will have to proove what you spent the money on. It is for school, is the message. Tuition, books, computer, etc...but you do have to eat and have shelter, I just don't know if they are applicable. THIS IS ONE OF THE TOP 10 BIGGIES, MAKE A LIST OF QUESTIONS, TO ASK[ Baloon payment, climbing interest, length of grace period, penalties and other horrible punishments, options of payment plancs, etc. ASK OTHER PEOPLE, ASK THE FINANCIAL OFFICER AT OUR COLLEGE, DO RESEARCH, E-mail WWW.FSA.edu.gov