How do I get rid of these "Student Loans?"

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Recently, I have been fighting with my parents because they don't want me to go to a regular, 4-year college. They did, however, say they would pay for me to go to community college.

I ended up feeling like they just want to control the purse strings, so I accepted a FAFSA unsubsidized loan and now I found out the interest would double the price.

Therefore, I feel I should let my parents pay, and my uncle said the same thing. I called the school and they are not there because of school vacation so it might get processed.

Worst of all, is the aspect where I'm still not sure if I even want to go. And, apparently, I am already kind-of enrolled just from applying because that's how CC works especially when you've taken AP.

They don't have my transcript yet, though, because I'm still not done graduating high school. But, I'm so freaking paranoid that I might already owe the government money! What should I do?

P.S.
I know that was a stupid move, LOL.

Have you completed the Master Promissory Note (MPN) yet? This is the paperwork in which you agree to pay back your loan, and if you haven't completed it yet, then your loan will not be processed. Even if you have already completed the paperwork, if you drop your enrollment at the school, the loan should be cancelled somehow. The monies get paid directly to the school when they send out the bill - which means you have to enroll in classes for money to be disbursed. No money disbursed = no loan.

In other words, don't panic.

Also, your title is funny. Before I read your post, I was going to reply "get a job and pay them off"

In regards to which school you should go to:

Why don't your parents want you to go to a four-year college? Is it just the money, or have they given you other reasons?

I suggest a compromise. Tell them you will go to a community college for two years, and after two years, if you get good grades and still want to go to a better school, that you will transfer to a four year school and that they will help pay for tuition. To help persuade them, tell them that graduating from a four year school will look better on a resume and help you get a good job in the future.

If you go this route, while you are at the community school, I suggest taking the most challenging classes available to help prepare you for transferring to the more challenging school.

look up their refund policy, make sure you have a checking account. If you get a refund for your tuition you can pay off the principal of the loan before it starts accruing interest.

Foss:

4 year college is expensive as f**k. I wasted 2 years at a 4 year school before deciding I couldn't do it to the tune of 10,000 principal (5000 paid so far) + 8000 (paid so far) of interest so far. If your on the ropes or still figuring it out community college is the way to go. Each of those 2 years I had 20,000 of scholarships and 5-10K out of pocket from my parents. If you aren't lucky enough to get that you will pay 20K a year in loans worth nothing if you f**k up, if you go to community college you can figure things out while gaining college credit on the cheep.

English 100 and 200 are going to be basically the same at down-the-road-CC and yale, its only the electives and advanced content courses that matter at 4 year schools.

If your not sure what you are doing, or you aren't done maturing. Either work or go to community college. or both.

http://studentaid.ed.gov/types/loans/interest-rates

not sure what you mean that interest rate doubled.

I just checked and the interest on subsidized and unsubsidized stafford loans are the same for this year 3.86%
this is a GREAT rate (but on an unsubsidized loan the interest accrues as soon as the loan is disbursed vs after you graduate with a subsidized loan)

also, whether or not your stafford loan is subsidized or not depends on how your EFC (based on the FAFSA) compares to the COA (cost of attendance) and your financial need (as determined by govt/school, not you)

I am the parent of a college graduate and I have experience with FAFSA, EFC and the whole process

lastly, Stafford/Perkins loans are in your name and are the ONLY loans you can get as a student withOUT a cosigner.

www.collegeconfidential.com
http://talk.collegeconfidential.com/
I have no affiliation with this website, other than a participant.
Great resource for parents and kids with questions about college

my son was in college from 2007-2011.

His first loan (fall 2007) was at 6.8% and rates went down from there in later years.
Stafford loans are a fixed interest rate.

Maybe you can consolidate your federal loans http://www.loanconsolidation.ed.gov/ into a lower rate.

We paid off the the stafford with the highest rate as soon as it went into repayment, it was the smallest one for $3500

I think the next year's was 5.6%. None of his was lower than 4.25%.

http://www.finaid.org/loans/historicalrates.phtml I was wrong previously, it appears that sub and unsub stafford loans do/did have different rates.

SO GLAD that the borrowing is over. He's paid off 1/2 his total loan amount of 29K in the past 3 years

College isn't a guarantee of success, and it's not for everybody (I didn't go), but for my kid it was a gateway to the world outside my house. My son is the exact polar opposite as far as 'personality/mentality' than I am.

Who knew I could end up with such a NT kid?

So you just accepted the loan on FAFSA? You can't receive the loan money unless you are already registered for classes at whatever college you are attending. When you say you accepted the loan, does that also mean that you registered for the regular 4-year college? Have they already distributed your loan money?

If so, and if you don't want the loan money, you can simply pay back the loan as soon as you receive the money...I'm pretty sure that is allowed. If not, you can always cancel registration at the college, which should cancel the distribution of your loan. The university handles the actual distribution of the loan money.

Make sure to look into scholarships and things also for financial support. What field are you planning to go in to? Make sure that whatever university you go to is accredited in your major (if your particular major has accredited programs). Community college is perfectly ok for certain fields, while I would recommend against it for many others.

If it works anything like it does here in Canada, you won't get your student loan money unless the college sends a confirmation of enrollment to the government agency that gave you the loan. If they never get a confirmation of enrollment, they'll cancel the loan.

you can always go to a free college. cooper union is tuition free for poor people and if you apply as an art major, you can get in with any gpa as long as you're artistic enough. other colleges are free too. take a gap year and apply elsewhere. dont get yourself in debt you cant pay off.