COLLEGE STUDENT LOANS EXPLAINED | fafsa loans vs private students loans

The college student loan process is usually thought of as RIDICULOUSLY complicated (which honestly, it is) but in this video, I'll break down the different types of student loans - FAFSA (federal) loans as well as private student loans, and I go into the pros and cons of both. Each student is going to have different financial needs, so understanding all of your funding routes for college is so integral to not overpaying for your collegiate experience. Hope this video helps, and leave any questions you may have down below!

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Timestamps:

00:00 hello all!
00:49 federal loans, fafsa, private loans
03:11 3 different types of federal loans
06:45 pros/cons of federal and private loans
09:20 who needs students loans

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Welcome to my channel - College Tips From the Almost Astrophysicist! I'm Priya and I'm here to help you get into college. I'm a University of Chicago grad with an Astrophysics degree that currently works as a Data Scientist and I want to break down the college application process and tackle all of the misconceptions about college for you! Let me know in the comments section down below if you have any video requests, or just want to say hi! :)

[leviferrell]

YOU ARE MY HERO…I LITERALLY LOVE YOUR CONTENT, I am a junior in high school and I’m dreading the rigors that lie in my future…such as student loans😒

[KetchupIsSyrupForFries]

Thank you so much for making this video. I am not sure if you will see this, but I personally want you to know that you provided a lot of clarity for me and it boosted my confidence when facing student loans and fafsa. I'm a first Gen college student and I haven't a clue what to do or how to do it. This helped so much. So once again, from the bottom of my heart. Thank you. :)

[avanisingireddy]

As an incoming freshman at UMich I def needed this video. Thanks so much!!

[mysticalorb]

one of things i think is important to consider too is if the president is going to move on student debt forgiveness and if that covers federal loans but not private loans :/ i hope in my lifetime, there’s some forgiveness for student loans

[ronaldreagan-ikhz]

how about get a job, go to community college, get a useful degree and graduate debt free? yeah --- lots of us do that.

[MYVloliDiruJP]

Actually quite the opposite in New Jersey. Public university in NJ is the same as a university in Europe if your parents don’t earn enough. It’s free 99% of the time.

[nasebamutib]

Wouldn't it make more sense to not give interest to people who are going back to school to better them selves, I don't understand it feels like a catch-22. I know that we can't remove interest from this society, but at least for education, I don't know why the government puts interest on students. You explained it well I really just don't understand.

[kindoboy]

This video was very much needed. Thank youu

[ashveet]

Amazing video. It's really helpful.😀

[NadaFAli]

You have a talent, I've existed most videos talking about loans as they weren't as attractive as the way you're making the video and super repetitive

[ZCdmnck]

According to FAFSA they pay up to 20% of your schooling. How were you helped with 70%?

[corbinbrittain]

If I am on my own, I pay complete rent on a two bed by myself and I’m working on top of taking federal loans when I apply next year and have to submit my income will they no longer give me aid because I’m making money? I won’t be able to afford to survive so I’m confused about all of that. I really wanna complete my degree but I was a high school drop out. Went back to school and now I have a 3.0 and study very hard and take it very seriously. I just worry I won’t be able to finish my degree period I’m 25 years old with zero help. Thanks

[karikennedy]

Private student loans is the worst debt you can have especially if you do not know that you will make a ton of money when you graduate. There is no income based repayment plan as there is with federal loans and there is no income forgiveness as there is with federal loans. It is the only debt you can never walk away from under any circumstance. I personally think parents telling their kids to go to college before they know what they want to do and letting them take private loans is the worst advice. If you take federal loans and make very stupid mistakes and get a worthless degree you can work for a non-profit or government, pay next to nothing a month if you do not make a ton of money and have the rest forgiven in 10 years. However, the really smart thing to do is get college credit in high school, go to a community college, work and pay for your last two years of school. If you want to go on and have good grades, graduate school is often free and paid for with assistantships.

[ManuelBaez-yi]

Hello! I just stumbled across your YouTube channel, love your content! I had a question regarding the FAFSA however. If you could possibly answer it I would really appreciate it :) When you receive your SAR after your form is processed a few day before, Do you have to accept every SAR like grants, scholarships, or loans? Or is it really up to you? Or the college/university that accepts you?

[damarisrobinson]

I really wish you could help with mine 😭🤦🏿‍♂️

[anuxious]

hey !! i'm an international student applying for a computer engineering degree but my ECs are all not-so-stem oriented (I do have some web and app development projects, but i'm not sure if I'll put them) and I just released my first single yesterday! i was wondering how many *minimum* streams will impress college admission officers / will make my songs worth mentioning on my common app since i'm not actively promoting my music on social media (not paid promo, just regular story uploads or such) ?

[paigemcdonald]

You keep saying "the cosigner"... a lot of us do not have a cosigner. Great info but please do not assume all of us are relying on our parents to help with college because that is just not accurate.

[kamilandrew]

Me watching this the day before the fasfa opens

[Bob-cdpp]

Try Find Out About A Loan Before You Get It.

[farahkaboura]

Can you help please iam a cancer patient 😢