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Loan to pay apartment rent while in college?

So I'll be heading off to college soon and I will also be moving into an apartment and living by myself for the first time! ahh, the excitement. okay, haha. I was wondering what is the BEST loan to possibly take to pay my apartment's rent? Student loan? Private loan? If so, which organization? I'm going to a school in Boston, MA so 1 organization available is the MEFA loans but I would like to compare others. Any help/suggestions is much appreciated!

Public Comments

1. If it is a Federal Student Loan, you would need to have a FAFSA on file with your award package already determined by your school. That would be the best/
2. OMG!! this just screams disaster. PLEASE listen. If you do this you will end up paying back way more than you borrowed, unable to pay it off anywhere near quick enough due to interest rates etc and will end up blacklisted on your credit rating. Please listen to someone trying to save you a whole lotta heartache that will go on for YEARS. After I got myself into Uni as a mature student (24) I did my degree over a longer period of time by taking less hours so I could GET A CASUAL / PART TIME JOB or two, and live very strictly on a budget to put myself through uni and share a crappy house with a flatmate. As a result less than a few years after graduating I own my own home and other than that am pretty debt free. Before all this I got myself into all sorts of trouble taking out 'loans' and not getting ahead, just further in hell. It will get to the point where you don’t want to answer the phone because you already know who it is- the debt collectors. Take my advice. I work for a bank.
3. This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started. Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn't. If you find that you need more money then you are offered, you may want to try a private student loan. The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestudentloans.phtml Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.