But…I’ll be attending a reputable college, but one that doesn’t use FAFSA, so loan options are limited.
At my age (54), I don’t want to wait and save, so I’ll be taking a loan. Good news is tuition for all three years is less than $15k. So repayment will be affordable.
Ok, here’s the thing: I’ve heard awful things, granted mostly on Reddit, about Sallie May. However they have the best rates by far.
Are they really that bad?
Going to get my doctorate!
byu/vase-of-willows inStudentLoans
Posted by vase-of-willows
10 Comments
>a reputable college, but one that doesn’t use FAFSA
So… outside the US?
If you’re talking about universities within the USA, the words “reputable” and “doesn’t use FAFSA” are diametrically opposed
Do you mind sharing the name of the school. I am interested in going back to school for my PhD and that proce sounds great. I would like to research that school a bit.
Paying for a doctorate isn’t a great idea
Doctorates usually come with funding to advance research in an area
A fee-based program is a red flag imo, especially at a school that doesn’t take FAFSA
Be real careful OP that this degree is going to pay off for you. If your employer is footing the bill, that’s one thing. If you’re planning on taking personal debt to obtain a fee-based doctorate, that’s another.
Edit: saw this was the American college of education. This would be an online doctorate? Those programs are all $25k. Will this help advance your career?
If it does not take FAFSA, it is a scam. Do not go there.
If you can’t afford $15k over three years, which equates to $100/week, then you probably shouldn’t go back to college.
if you are thinking about loans for a doctorate you are getting ripped off and the word “reputable” does not apply. do not do a self-funded doctorate unless you are independently wealthy.
No, Sallie Mae isn’t actually some horror story waiting to devour your credit. They can be annoying with servicing and customer ***service “lots of people shout about that”*** but the loans themselves aren’t traps if you borrow responsibly.
They’re not “the worst thing ever,” just a private loan servicer with some quirks. Borrow what’s necessary, plan your payback, and you’ll be fine.
At 54, I would not be taking out student loans. You need to be maxing out 401K and talking to financial planner. Do you plan to retire?
There is nothing disreputable about ACE. They’re regionally accredited, and are high quality. Ignore the haters here, they don’t understand education as a field.