How Does One Hire A Financial Aid Expert To Guide You Through The Private Loan World?

Question

Does such a consultant even exist?

The school has a financial aid office. They can help with federal aid. But there one is on one's own re: the private loan world.

Is there a financial aid adviser one can hire?

In general, hiring an expert usually pays off and prevents costly mistakes.

I'm in MA (Boston-area). How would one go about finding one?

Anyone know?

Answer 1

do you REALLY need to hire someone to do this for you?  You are in college, you are smart enough to figure out who is offering the best terms on these loans.  I think private loans are a horrible way to go, they could just drown you in debt, but if you really really need it and have no choice, I guess you must.  But those are some bad bad loans to have over your head.  Just taking them out will probably be one of the more costly mistakes you ever make

Answer 2

In general paying for what you can receive free is sort of unnecessary, in my opinion.  Your school's aid office is an authority on federal loans, but they are also pretty knowledgeable about private loans as well.  I would go to them first and hear what they have to share with you about private loans.  It is free advice, and while they are not "experts" of finance per se, most of us working in the business have a lot of experience with private education lending, and the lenders that are available.

Barring that, I think what you are looking for is a financial consultant or financial planner.  Try looking for one of these either at your local bank or in the yellow pages (or google the term with boston ma).  I am sure they will have good insight on the matter, as well as other financial aspects.  Just remember - money you spend on this sort of advice is money you could put toward your tuition bill.