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Say Hello to 0% Student Loans

by on July 13, 2012

By Samantha Savory

Hello FREE money! Are you gearing up to start college this fall? Need help financing your education? According to CNN Money, by reaching out to local foundations and state programs, and entering various writing contests, you can get zero interest loans to pay your way through school!

Jessica Lee, 28, who just started her new career as a dentist in Colorado this fall recently told CNN that she “spent dozens of hours filling out applications for such loans, and was rewarded when two charities fronted her a total of about $52,000 at 0% to fund dental school. After doing the math, Lee saved about $10,000 in interest.”

Obviously amazing bargains like this will take more than a simple Google search. To help students find them, posted a list of organizations offering them in 2012 below. Students who don’t qualify for these interest free loans may reach out to their local church’s or boys and girls/YMCA organization for assistance.

The only downside to interest free loans may be their repayment schedule.  Make sure to review all documentation regarding your interest free loan. Some federal funding may end up being more convenient because they are more flexible and offer deferment or hardship programs for a certain amount of time. You should also be aware that, unlike federal loans, many of the interest-free loans require cosigners and payments while you are in school.


From → Money Management

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