I'm gonna have to take out a student loan to be able to afford anymore skewling. UW jacked up the tuition and fees and now I can't afford anymore school with what I had saved up, thankfully it at least covered two semesters.

I can only get private loans because I make more money then the cutoff point for federal aid. Not to mention that they still look at my parents earnings as well. So, three payment options; start paying in full now, pay just interest now, or defer all payments until 4 months after I gradumuntate. Which is the best option? I'm thinking about maybe just doing the interest only payments for now the next four years, but I don't know if that is the total interest on the loan and then I just payback the principle or if it is interest for the next four years, and then interest as well as principle until it s payed off, or what. Deferred might be the best option because there is no way right now that I could be making enough to pay the loan off while going full time to school. If I could be making monthly payments to the loan I could just be making monthly payments to the school and not fuck around with a loan.

I took out a few SC Student (Stafford) loans to cover misc. expenses, and they never looked at my parents income. The only time they look at your income is for grant funds. In that case, if you or your parents make a healthy salary, you won't get work study funds nor the Pell Grant.

You should be able to get a state loan regardless of what your income or your parents income is. Don't let them sucker you into those private loans that are 8%+. It'll bite you in the ass once you have to pay them back.

If you have any doubt about paying the loan while in school, then have it deferred. Student loans are INSTALLMENT loans, and will have more of an impact on your credit in the long run.

If you can swing it, pay off the loan amount each semester,

But Interest payments are the minimum I would suggest, The way it goes is each month you get a statement with the amount of interest that has been applyed for that month, as the loan value goes up the interest ammount goes up.