-- Posted by KweenZ at 9:28 pm on Dec. 26, 2007 Im thinking about accepting this stafford loan because im having a horrible time trying to get back and forth from college which is like an hour away. I desperately need a car, because no one seems to be able to help me get a ride, and I dont want to have to drop out of school because of it. Ill only accept about 1,500 - 2,000 though and the interest rate is i think 8.25% which doesnt start til 6 months after i graduate. Do you think this would really hurt me in the long run, or do you think I should do it? Do you have loans? If so, are you/do you think you will be in debt? How long do you think it would take me to pay it back if i start saving a little, starting now I guess? -- Posted by Another Chance at 9:33 pm on Dec. 26, 2007 I say take all the money you need now, then when you graduate and get a good job, pay it off in some years. Money shouldn't be an issue when in college. -- Posted by silverbullets at 9:38 pm on Dec. 26, 2007 stafford loand can not be used for buying a car. -- Posted by KweenZ at 9:43 pm on Dec. 26, 2007 Quote: from silverbullets at 9:38 pm on Dec. 26, 2007 stafford loand can not be used for buying a car. why not? -- Posted by Another Chance at 10:01 pm on Dec. 26, 2007 Quote: from KweenZ at 9:43 pm on Dec. 26, 2007 Quote: from silverbullets at 9:38 pm on Dec. 26, 2007 stafford loand can not be used for buying a car. why not? Uhh, yes they can. I used mine to buy a laptop, why not a car. -- Posted by silverbullets at 9:11 am on Dec. 29, 2007 Quote: from Another Chance at 1:01 am on Dec. 27, 2007 Quote: from KweenZ at 9:43 pm on Dec. 26, 2007 Quote: from silverbullets at 9:38 pm on Dec. 26, 2007 stafford loand can not be used for buying a car.    why not? Uhh, yes they can. I used mine to buy a laptop, why not a car. if you read the rules, the stafford loan CAN be used to buy a loptop, but NOT a car. i was going to get a stafford loan, i have called about the stafford loand and asked if you are able to buy a car with your loan, you are NOT.