Hi everyone,
I'm turning to this community with a couple of questions that may seem absolutely ridiculous, but I've never had to do anything like this before, so there's a bit of a learning curve as I try to figure all of this out. I just got into my dream program (terminal MA), though (unsurprisingly) without funding (not much to go around). I went to undergrad abroad on a full ride so I've never had to take out loans for anything, and now I have to explain to my parents (both of whom also went to undergrad abroad) how this whole tuition payment situation is going to work.
My mom has graciously offered to cover the costs, though she's not sure how much she'll actually have set aside for it by the time the payment deadline rolls around. Where would I go (in terms of financial institutions) to procure a student loan with a low interest rate should it become necessary? Basically, the situation is that she will eventually (probably within a couple of months) send me (or them) a check to pay off the outstanding amount, so I'm not sure whether it would make more sense to take out a large loan for the whole cost of two years all in one go and pay a portion of it off every month, or take out one or several small loan(s) as they become needed, or just get a standard loan from the bank for the amount necessary to cover the first semester, or whether we should do something else entirely. If it matters, both of us have really good credit. How would you suggest going about this?
Thanks in advance for any advice you could offer!
