Can I cancel a private loan after signing off on it? Just realized I could have gotten a federal loan to cover it instead... Student Loans |
| Posted: 30 Apr 2020 09:39 PM PDT I got a private loan for 10.74% interest rate. No idea why as I have great credit and my dad co-signed with great credit as well. My dad said to just take it because we thought it was my only option and I'm planning to pay it back within 2 years. Now, I just realized we could've taken out a PLUS loan because I'm still a dependent. I already exhausted all my subsidized/unsubsidized from my first undergrad degree and this is a second bachelors so I didn't think I could get more federal. I do think I still qualify for this PLUS loan if my dad will apply. It's a 7.08% rate. If I signed for the private loan, but it hasn't been officially dispersed, can I cancel the private and take the federal instead? [link] [comments]  |
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