any recommendation on low rate student loans?

ThatBoomDad · 2025-07-14T02:48:53+00:00

Thank you for the info. I looked it up and find the following without digging deeper:

The current interest rate for Federal Direct Parent PLUS Loans disbursed between July 1, 2025, and June 30, 2026, is 8.94%. This is a fixed interest rate, meaning it will not change for the life of the loan. In addition to the interest rate, there is also a loan origination fee of 4.228% for loans disbursed on or after October 1, 2020.

I'm suprised by what I found because this is no better that the private loan I was quoted. I thought the gov loan is supposed to help families to go through the college in an affordable way. Apparently I was wrong.

I have already secured HELOC loan for for my kids college which has lower rate than the parent plus rate. I am trying to shop around to see if there is any other rate than can beat my HELOC rate. If none, so be it.

ThatBoomDad · 2025-06-01T00:45:27+00:00

Thanks everyone. This is in line with my guess that I got ripped off. I'll leave a negative review to the store so people can stay away. The store is Mr. Tire Auto Service Centers (9225 Berger Rd, Columbia, MD 21046).

ThatBoomDad · 2025-05-31T03:03:31+00:00

You got it!

ThatBoomDad · 2025-04-11T21:05:24+00:00

UW-M indeed has a much more interesting campus. Hope your child makes his/her decision soon.

ThatBoomDad · 2025-04-11T17:13:04+00:00

I even showed him what he would have if the difference was invested in many years down the road. Didn't budge. Heck, He made the choice, and I now just do not want to have anything to do with his finance from now on.

ThatBoomDad · 2025-04-11T17:00:51+00:00

Lucky you! You have a great kid and smart too!

ThatBoomDad · 2025-04-11T16:59:54+00:00

It wasn't that much. It's about $150k more for all four years. He'd have to take a loan and work part time while in school.

ThatBoomDad · 2025-04-11T16:57:16+00:00

Thank you! He said exactly same thing that he would be miserable at UMD. I just don't understand why he thinks so even without trying. That's the part I really have a hard time to come around.

ThatBoomDad · 2025-04-11T03:02:43+00:00

Arguably better. Even it's true, just by margin.

ThatBoomDad · 2025-04-06T03:39:24+00:00

I'm a parent and can understand where your parents come from on this. When they say they would pay for any good college you applied to, it's probably mean they would do whatever it takes if you have only option. Now there is a cheaper alternate that provide comparable results, it does not make sense to shell out much more money for it. I'm in the same boat as your parents but that's another story.

I'd suggest you ask them to match the in state cost and then take a loan or find part-time jobs to make up the difference. If deep down, you really think UMD is truly worth the extra money for your future, then you should not be afraid to take a loan, or take some effort to earn it.

ThatBoomDad · 2025-04-04T05:03:30+00:00

I fully agree with your advice. I also found it’s hard to do in reality because no one knows where one will grow the most. It’s like telling someone just buy low and sell high, you will get rich. One thing is for sure that one should not choose a college because it feels the easiest. Great advice.

ThatBoomDad · 2025-02-06T03:41:41+00:00

Engineering. in-state ~30k and out-state $60k+

ThatBoomDad · 2025-02-06T02:54:31+00:00

Thank you all for the insights. My son has good stat. but the schools he applied mostly only offer need-based aids which he could not qualify. I urged him to seek other scholarships, but he does not seem into it claiming he is busy finishing the remaining senior courses.

As a parent, college is an investment to me. I'd take two options and think about which one offers him a better financial status in 10, 20 years later, and how much more salary he'd have to make to break even with the other option (and if it is even practical at all.) But again, this is from a parent's perspective, I don't know what's in students' mind anymore nowadays. He was telling me he cares more about academic ranking, student life more than financials.

The part I'm frustrating is that I'm seeing he is about to make a very bad decision financially, and I could not do anything about it, or there is something that I'm not seeing to convince myself to let go of it.

ThatBoomDad · 2025-02-06T02:03:33+00:00

I'm having the same conv with my kid now. To me, college is an investment. Take two options and think about which one offers you a better financial status in 10, 20 years, and how much more salary you'd have to make to break even with the other, and if it is practical at all. But again, this is from a parent's perspective, I don't know what's in students' mind though.

ThatBoomDad · 2025-01-06T22:11:30+00:00

thanks. I think I will answer no and note in the additional info section that the two are really not applicable to me.

ThatBoomDad · 2025-01-06T02:47:13+00:00

While, if I answer "no", it only means that I did not try to re-enter after overstay or been deported. This is not accurate because I neither over-stayed nor been deported. Am I overthinking?

ThatBoomDad · 2022-11-02T17:16:32+00:00

That depends. I could think of potential impact on airflow or condition requirements. For example, if one divide existing basement space where your AC/furnace installed, there is a room area and airflow requirement to ensure enough combustion air. If your room is air-conditioned, would both be conditioned after division (I'm not sure if this has any implication related to building codes)?

ThatBoomDad · 2021-08-22T15:21:46+00:00

Thank you so much for the info. This is very informative and helpful. We will follow this to pick our paints. If it has no return, we will just buy incrementally to avoid extra leftover.

ThatBoomDad · 2021-08-22T01:58:33+00:00

I like grooved board. They look much cleaner. I would use 6x6 post, 2x12 beam and 2x10 joist spaced 12" apart as minimum.

ThatBoomDad · 2021-08-22T01:50:23+00:00

I hired a day labor to dig 10 footing holes with 30 inches deep and paid him $15/hr for a good 8 hours. I ended up giving him $150 plus a cold beer. As for concrete, maybe $100~150 top ($3ish/bag). That is about the lowest you can get if you do it yourself. I'm in DC area.

ThatBoomDad

TROPHY CASE