Not eligible for FAFSA grants - which student loans are best options based on personal experience?

Federal student loans are ALWAYS better than private loans. Always. Even without qualifying for grants, you should still complete your FAFSA to access federal Direct Loans. As a dependent undergraduate, you can get up to $5,500 your first year, $6,500 second year, and $7,500 for years 3+4. These have fixed interest rates (currently 5.5%), flexible repayment options, forgiveness possibilities, and deferment options if you hit hard times. Private loans should be your last resort because they typically have variable interest rates, require credit checks/cosigners, and have much less flexible repayment options.

omg i was in the same boat last yr!! my parents made like 120k but they have 3 other kids and a mortgage so they could only give me like 5k a year. i ended up with the federal loans first (take those!!!) and then had to get a private loan from discover to cover the rest. the federal ones r way better and u don't need a cosigner

Here's the full breakdown of federal loan options available to you even without qualifying for grants: 1. Direct Subsidized Loans - government pays interest while you're in school (better option) 2. Direct Unsubsidized Loans - interest accrues while in school (still decent) 3. Parent PLUS Loans - your parents would need to apply for these For private loans, shop around and compare rates. Sallie Mae, Discover, SoFi, and local credit unions all offer student loans with varying terms. The key differences are: - Federal loans have fixed interest rates; most private loans have variable rates that can increase - Federal loans offer income-driven repayment plans; private loans typically don't - Federal loans may qualify for Public Service Loan Forgiveness; private never do - Federal loans don't require credit checks (except PLUS); private loans do Have you also explored additional merit scholarships and work-study options?

My daughter got Direct Unsubsidized Loans and we supplemented with a Parent PLUS loan. The PLUS loan is in my name though, not hers, so that's something to consider when talking with your parents. I'm responsible for repaying it, not her, which was fine for our situation but might not work for everyone.

The whole system is RIGGED against middle-class families!!! Your parents make "too much" for grants but not enough to actually PAY for college?? Been there. My advice: take the MINIMUM loans possible. I graduated with $78k in debt six years ago and I'm STILL drowning even with a "good" job. College is a scam these days unless you're going into a high-paying field. What's your major? That matters A LOT when deciding how much debt is reasonable!!!!

I've been trying to reach the Federal Student Aid office for WEEKS to ask detailed questions about my loan options after getting no grants. I kept getting disconnected or waiting for hours. Finally used Claimyr.com and got through to an agent in less than 30 minutes! They have this service that holds your place in line and calls you when an agent is available. Saved me so much frustration. They have a video that explains how it works: https://youtu.be/TbC8dZQWYNQ The FSA agent was super helpful and explained all my loan options in detail, including some forgiveness programs I might qualify for later. Definitely worth getting that personalized advice directly from the source.

When I was applying for college 3 years ago, I was in the exact same situation. My parents made around 95K combined, but with 2 other kids and helping my grandparents, they couldn't help much with tuition. I did community college for 2 years to save money, then transferred. Saved probably $30K in loans that way. Something to consider if you haven't started yet?

One more thing to consider: Look into whether your school offers any payment plans. Many universities let you spread tuition payments across the semester instead of paying all at once. This won't reduce the total amount, but can make it easier to pay some out-of-pocket and reduce how much you need to borrow. Also, after you take the federal loans, if you still need more funding, have your parents check if they can take a home equity loan instead of a private student loan. The interest rates are often lower and may be tax deductible. Not financial advice, but worth investigating.

Thanks everyone for all the helpful advice! I'm going to focus on maximizing federal loans first (both subsidized and unsubsidized), look into payment plans at my university, apply for more scholarships, and try to get a part-time job to cover some expenses. I'll talk with my parents about whether they'd be willing to consider a Parent PLUS loan versus being a cosigner on a private loan if I need additional funding. The differences in repayment flexibility between federal and private loans is really eye-opening. And I'll definitely use that Claimyr service to get through to FSA with my specific questions. Really appreciate everyone sharing their experiences!

Great to see you getting such solid advice here! I went through this exact situation 2 years ago - parents made too much for grants but couldn't actually help with tuition. One thing I'd add that really helped me: consider taking a gap year to work and save money if you haven't already committed to starting this fall. I know it's not ideal, but I saved about $15k working full-time for a year, which significantly reduced my loan burden. Also, once you're in school, look into becoming a Resident Advisor after your first year. Most schools offer free room and board for RAs, which can save you $10-12k per year. The application process is competitive but definitely worth trying for. And don't forget to check if your state has any student loan forgiveness programs - some states offer loan forgiveness for graduates who work in certain fields or underserved areas within the state.