Private Student Loans
After you’ve exhausted Pell Grants, scholarships, Federal Direct Subsidized and Unsubsidized loans, Parent Plus loans and you still need money you pick your poison with a private lender.
Private loan lenders do not care about your dreams. They don’t care you have wanted to become a doctor since you were 12 years old and practiced surgery on your stuffed animals. Keep this in mind when applying for private student loans. The interest rates are higher and usually variable no matter how great your credit score is. They will almost literally throw money at you but don’t jump on it too quickly. Take out the bare minimum needed to pay your tuition. Don’t be tempted to use a little extra cash to book a trip on Hotwire to Daytona Beach just before senior year, because you’ve “earned it.” My friend did that and will probably still be paying for that trip when she’s 50.