@zerbherb wrote:
My credit is none of your business good for my age. I'm 21. Look at my sig. Whats the best student loan for housing guys thats all i need it for. #cry for the young film editor who has to spend 16k on housing.
If you want your credit situation to be private, that's totally appropriate and no one should bother about that. That said, if you feel that way, you might want to remove the information in your signature since it seems to contain your credit scores and information about some (all?) of your revolving accounts.
IMO, the "best" student loans are federal loans. They generally have reasonable fixed interest rates that are not based on your creditworthiness. They are also some of the most flexible debt out there in terms of repayment options. Between deferment, forbearance and income-driven repayment, which can be paired with eventual loan forgiveness, every student should exhaust all of the federal aid before they apply for a private loan.
If you need additional loans, the best thing to do is rate shop private lenders. You will also want to evaluate the terms of the loan closely. Private student loans don't have a standard set of terms and benefits - one lender may offer limited economic hardship deferments or extended repayment options, another may only make loans with a fixed repayment amount.
That said, I would think long and hard before taking out $16k in loans just for housing. I'm sure you have very high hopes for your career and earning potential, but private student loans are nearly impossible to escape - so beyond the best case scenario what is the common outcome for people with your degree in terms of annual income? What is the worst case scenario? Can you pay back this loan comfortably based on a reasonable estimate of your income? If not, you probably shouldn't take it out.
No one HAS to pay $16k/year for housing - it might seem like your only option, but depending on the bigger picture of your earning potential and other debts, making some major changes to reduce the cost of your schooling and/or the amount you have to borrow may be the best thing you can do for your future self.
