Go to creditboards.com and start reading. Credit is a very serious topic, and should not be taken lightly. But in this world you need credit as almost everything is based on that (wonder how high someones car insurance is without ever using credit? A lot higher than someone who has good credit).
Do you know her credit scores? Many lendors do private student loans, and if her credit is good enough, can actually be better than the federal loans APR wise.
I would go with a credit union over a bank, credit unions have MUCH better rates.
I haven't looked yet, but she said all the private student loans had to go to her school, through them, then to her and her school won't. From what I briefly read, most institutions have backed out of private student loans that go straight to the student.
I would also look into how the financial aid will change once you slip that other ring on her finger.
I think at that point, your income is a direct factor.
Also kind of a side point, the way the government is spending money today, there could be quite a few cut backs in the near future. Only reason i am saying this is, you might want to have more than just one option in mind especially if you go the federal route.
Yea, we already thought of that. Have to look into it soon. But yea, my income would be a factor.
^^^^^^^^yes, yes and yes. Get it done before you're married. She'll get less financial aid with double income.
Her income will be significantly
less once she starts all her nursing stuff. So it won't be mine and hers, it'll basically be mine.
Is she under 25yo. If so her parents income comes into play as well. Even after you're married.
Student loans changed ALOT over the last 2 years as a result of Obamacare.
Govt backs all student loans now.
She's 20, will be 21 in Nov.
For her FAFSA, she claimed independent because she did so on her taxes too. Basically, we have our lives together way more than her parents do, and we've lived together for just over a year.
But for private loans, independent may not mean anything to them.
I did read that the loans are now 'backed with the full faith and credit of the U.S. Government'
Oh, and she said that when she asked for "private student loans," they said that that is a loan not from the government and one that goes to the school, then her. So I dunno