[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.10,0:00:01.41,Default,,0000,0000,0000,,- [Interviewer] We're here\Ntoday with Sean Logan,
Dialogue: 0,0:00:01.41,0:00:04.05,Default,,0000,0000,0000,,director of college counseling\Nat Phillips Academy.
Dialogue: 0,0:00:04.05,0:00:07.38,Default,,0000,0000,0000,,Sean, one of the big\Ndecisions that students face
Dialogue: 0,0:00:07.38,0:00:09.72,Default,,0000,0000,0000,,is that of student\Nloans when they're going
Dialogue: 0,0:00:09.72,0:00:11.80,Default,,0000,0000,0000,,through the college admissions process.
Dialogue: 0,0:00:11.80,0:00:13.68,Default,,0000,0000,0000,,Can you kind of explain to me where are
Dialogue: 0,0:00:13.68,0:00:15.10,Default,,0000,0000,0000,,the different places I can get loans
Dialogue: 0,0:00:15.10,0:00:17.74,Default,,0000,0000,0000,,and then how that impacts\Nwhat those options are?
Dialogue: 0,0:00:17.74,0:00:19.36,Default,,0000,0000,0000,,- [Sean] Sure, so the government is
Dialogue: 0,0:00:19.36,0:00:22.21,Default,,0000,0000,0000,,probably the best source\Nof loans right now.
Dialogue: 0,0:00:22.21,0:00:26.62,Default,,0000,0000,0000,,And, you know, there's\Nalso smaller state loan
Dialogue: 0,0:00:26.62,0:00:29.95,Default,,0000,0000,0000,,programs that are out there,\Nand that varies by states.
Dialogue: 0,0:00:29.95,0:00:31.02,Default,,0000,0000,0000,,- [Interviewer] So that's sort\Nof the federal government,
Dialogue: 0,0:00:31.02,0:00:32.32,Default,,0000,0000,0000,,then there's the state government.
Dialogue: 0,0:00:32.32,0:00:32.97,Default,,0000,0000,0000,,- [Sean] Yep.
Dialogue: 0,0:00:32.97,0:00:33.37,Default,,0000,0000,0000,,- [Interviewer] Okay.
Dialogue: 0,0:00:33.37,0:00:34.49,Default,,0000,0000,0000,,- [Sean] There are colleges that will
Dialogue: 0,0:00:34.49,0:00:36.80,Default,,0000,0000,0000,,do their own institutional loans
Dialogue: 0,0:00:36.80,0:00:39.90,Default,,0000,0000,0000,,and then there are private\Ninstitutions that will do loans.
Dialogue: 0,0:00:39.90,0:00:42.32,Default,,0000,0000,0000,,- [Interviewer] Okay, and of all these
Dialogue: 0,0:00:42.32,0:00:45.20,Default,,0000,0000,0000,,different options, where should I begin?
Dialogue: 0,0:00:45.20,0:00:47.72,Default,,0000,0000,0000,,- [Sean] So, with your\Nfinancial aid package,
Dialogue: 0,0:00:47.72,0:00:49.68,Default,,0000,0000,0000,,colleges will help you\Nsort of understand this,
Dialogue: 0,0:00:49.68,0:00:52.18,Default,,0000,0000,0000,,but in general, colleges\Nare gonna use a lot
Dialogue: 0,0:00:52.18,0:00:54.12,Default,,0000,0000,0000,,of federal money at\Nfirst and try to package
Dialogue: 0,0:00:54.12,0:00:56.06,Default,,0000,0000,0000,,you that way, and again,\Nit's generally the best
Dialogue: 0,0:00:56.06,0:00:57.98,Default,,0000,0000,0000,,type of loan you can get.
Dialogue: 0,0:00:57.98,0:01:00.22,Default,,0000,0000,0000,,There are need-based\Nloans that are out there
Dialogue: 0,0:01:00.22,0:01:03.25,Default,,0000,0000,0000,,so you have to have certain\Nlevels of income to qualify.
Dialogue: 0,0:01:03.25,0:01:06.35,Default,,0000,0000,0000,,The first being that\Nthe Federal Perkins loan
Dialogue: 0,0:01:06.35,0:01:09.12,Default,,0000,0000,0000,,generally for more lower income students.
Dialogue: 0,0:01:09.12,0:01:12.24,Default,,0000,0000,0000,,That has a lot of really\Npositive perks to it.
Dialogue: 0,0:01:12.97,0:01:16.00,Default,,0000,0000,0000,,They include things like a fixed rate.
Dialogue: 0,0:01:16.00,0:01:18.43,Default,,0000,0000,0000,,It has no origination fee.
Dialogue: 0,0:01:19.11,0:01:21.70,Default,,0000,0000,0000,,You have the flexibility\Nwith the government
Dialogue: 0,0:01:21.70,0:01:24.09,Default,,0000,0000,0000,,paying all of the\Ninterest until six months
Dialogue: 0,0:01:24.09,0:01:27.38,Default,,0000,0000,0000,,after you graduate, so that's\Na great factor for that.
Dialogue: 0,0:01:27.38,0:01:27.98,Default,,0000,0000,0000,,- [Interviewer] Okay, so you're not gonna
Dialogue: 0,0:01:27.98,0:01:29.44,Default,,0000,0000,0000,,pay any interest while you're in school.
Dialogue: 0,0:01:29.44,0:01:31.13,Default,,0000,0000,0000,,- [Sean] While you're in school,
Dialogue: 0,0:01:31.13,0:01:32.76,Default,,0000,0000,0000,,and you do have, again,\Nsome flexibile terms
Dialogue: 0,0:01:32.76,0:01:36.07,Default,,0000,0000,0000,,with deferring that if\Nyou go to graduate school.
Dialogue: 0,0:01:36.07,0:01:37.79,Default,,0000,0000,0000,,And again, you can take out in your
Dialogue: 0,0:01:37.79,0:01:39.68,Default,,0000,0000,0000,,first year up to 5,500 dollars, uh,
Dialogue: 0,0:01:39.68,0:01:42.06,Default,,0000,0000,0000,,you can take out up to 5,500\Ndollars as an undergraduate
Dialogue: 0,0:01:42.06,0:01:43.28,Default,,0000,0000,0000,,for the Federal Perkins loans.
Dialogue: 0,0:01:43.28,0:01:46.17,Default,,0000,0000,0000,,- [Interviewer] Okay,\Nand that's up to 5,500?
Dialogue: 0,0:01:46.17,0:01:48.19,Default,,0000,0000,0000,,And is that per year or overall?
Dialogue: 0,0:01:48.19,0:01:49.79,Default,,0000,0000,0000,,- [Sean] Uh, a year.
Dialogue: 0,0:01:49.79,0:01:50.99,Default,,0000,0000,0000,,- [Interviewer] Okay, got it.
Dialogue: 0,0:01:50.99,0:01:52.84,Default,,0000,0000,0000,,Are there any other\Nkind of need-based loans
Dialogue: 0,0:01:52.84,0:01:54.49,Default,,0000,0000,0000,,that are available from\Nthe federal government?
Dialogue: 0,0:01:54.49,0:01:55.09,Default,,0000,0000,0000,,- [Sean] There are, so there's
Dialogue: 0,0:01:55.09,0:01:57.54,Default,,0000,0000,0000,,also subsidized Stafford loans.
Dialogue: 0,0:01:57.54,0:01:59.17,Default,,0000,0000,0000,,They're not quite as good terms
Dialogue: 0,0:01:59.17,0:02:02.01,Default,,0000,0000,0000,,as the Perkins loans, but\Nagain, still very good.
Dialogue: 0,0:02:02.01,0:02:04.88,Default,,0000,0000,0000,,Probably the next best\Nloan you'll find out there.
Dialogue: 0,0:02:04.88,0:02:08.32,Default,,0000,0000,0000,,There is an origination fee to that.
Dialogue: 0,0:02:08.32,0:02:10.36,Default,,0000,0000,0000,,Right now, the interest rate is actually
Dialogue: 0,0:02:10.36,0:02:13.27,Default,,0000,0000,0000,,a little bit lower than the Perkins loan,
Dialogue: 0,0:02:13.27,0:02:16.31,Default,,0000,0000,0000,,but that will go up\Ndepending on the markets.
Dialogue: 0,0:02:16.31,0:02:17.47,Default,,0000,0000,0000,,Again, it has the same maximum
Dialogue: 0,0:02:17.47,0:02:21.91,Default,,0000,0000,0000,,of 5,500 dollars per, for this\Nyear, for your first year.
Dialogue: 0,0:02:21.91,0:02:23.62,Default,,0000,0000,0000,,- [Interviewer] And is that\N5,500, does it stay 5,500
Dialogue: 0,0:02:23.62,0:02:25.22,Default,,0000,0000,0000,,every year or does that change?
Dialogue: 0,0:02:25.22,0:02:28.02,Default,,0000,0000,0000,,- [Sean] So that can go\Nup as you're a sophomore,
Dialogue: 0,0:02:28.02,0:02:30.28,Default,,0000,0000,0000,,junior, or senior, that amount can go up.
Dialogue: 0,0:02:30.28,0:02:32.90,Default,,0000,0000,0000,,So you have a little bit\Nmore flexibility with that.
Dialogue: 0,0:02:33.28,0:02:35.83,Default,,0000,0000,0000,,And the subsidized Stafford, also,
Dialogue: 0,0:02:35.83,0:02:37.05,Default,,0000,0000,0000,,their interest rate is also paid for
Dialogue: 0,0:02:37.05,0:02:39.79,Default,,0000,0000,0000,,by the government until six\Nmonths after you graduate.
Dialogue: 0,0:02:39.79,0:02:40.49,Default,,0000,0000,0000,,- [Interviewer] I see, so that's also
Dialogue: 0,0:02:40.49,0:02:42.14,Default,,0000,0000,0000,,no interest paid while in school.
Dialogue: 0,0:02:42.14,0:02:43.81,Default,,0000,0000,0000,,- [Sean] Correct.
Dialogue: 0,0:02:43.81,0:02:45.64,Default,,0000,0000,0000,,- [Interviewer] Are there any loans that
Dialogue: 0,0:02:45.64,0:02:48.38,Default,,0000,0000,0000,,the federal government offers\Nthat aren't need-based?
Dialogue: 0,0:02:48.38,0:02:48.98,Default,,0000,0000,0000,,- [Sean] There are.
Dialogue: 0,0:02:48.98,0:02:51.09,Default,,0000,0000,0000,,Now, one thing to remember is you still,
Dialogue: 0,0:02:51.09,0:02:53.32,Default,,0000,0000,0000,,you need to fill out a\NFAFSA form to qualify
Dialogue: 0,0:02:53.32,0:02:56.78,Default,,0000,0000,0000,,for any federal loans,\Nso even if you, go ahead.
Dialogue: 0,0:02:56.78,0:02:57.43,Default,,0000,0000,0000,,- [Interviewer] Just so I understand,
Dialogue: 0,0:02:57.43,0:02:59.23,Default,,0000,0000,0000,,so it's even if I don't\Nhave financial need,
Dialogue: 0,0:02:59.23,0:03:00.73,Default,,0000,0000,0000,,my family makes a lot of money,
Dialogue: 0,0:03:00.73,0:03:02.27,Default,,0000,0000,0000,,I still fill out the FAFSA just
Dialogue: 0,0:03:02.27,0:03:03.86,Default,,0000,0000,0000,,to get access to federal loans.
Dialogue: 0,0:03:03.86,0:03:04.95,Default,,0000,0000,0000,,- [Sean] Correct, and that's an important
Dialogue: 0,0:03:04.95,0:03:07.37,Default,,0000,0000,0000,,fact that people don't realize.
Dialogue: 0,0:03:07.37,0:03:09.82,Default,,0000,0000,0000,,So there is an unsubsidized Stafford loan
Dialogue: 0,0:03:09.82,0:03:12.09,Default,,0000,0000,0000,,and again, it's not quite as good of terms
Dialogue: 0,0:03:12.09,0:03:13.53,Default,,0000,0000,0000,,as the other two we've talked about,
Dialogue: 0,0:03:13.53,0:03:16.63,Default,,0000,0000,0000,,but it's still a very good\Noption for many families.
Dialogue: 0,0:03:16.63,0:03:19.38,Default,,0000,0000,0000,,- [Interviewer] Okay,\Nso I know that the rates
Dialogue: 0,0:03:19.38,0:03:22.45,Default,,0000,0000,0000,,for the Stafford subsidized\Nand unsubsidized are the same
Dialogue: 0,0:03:22.45,0:03:25.10,Default,,0000,0000,0000,,so what are the actual\Ndifferences between the two loans?
Dialogue: 0,0:03:25.10,0:03:26.33,Default,,0000,0000,0000,,- [Sean] So the biggest\Ndifference is is that
Dialogue: 0,0:03:26.33,0:03:28.03,Default,,0000,0000,0000,,the federal government\Nwill not pay the interest
Dialogue: 0,0:03:28.03,0:03:29.37,Default,,0000,0000,0000,,while you're in school.
Dialogue: 0,0:03:29.37,0:03:31.09,Default,,0000,0000,0000,,- [Interviewer] Okay, so\Nthey're not gonna cover you.
Dialogue: 0,0:03:31.09,0:03:31.91,Default,,0000,0000,0000,,- [Sean] Right.
Dialogue: 0,0:03:31.91,0:03:34.71,Default,,0000,0000,0000,,- [Interviewer] Okay, and then,\Nare there any other kinds,
Dialogue: 0,0:03:34.71,0:03:35.73,Default,,0000,0000,0000,,you mentioned there was one other kind
Dialogue: 0,0:03:35.73,0:03:37.81,Default,,0000,0000,0000,,of federal loan that's not need-based.
Dialogue: 0,0:03:37.81,0:03:40.71,Default,,0000,0000,0000,,- [Sean] There also is something\Ncalled a direct plus loans
Dialogue: 0,0:03:40.71,0:03:44.34,Default,,0000,0000,0000,,which a parent can take\Nout instead of the student.
Dialogue: 0,0:03:44.34,0:03:46.95,Default,,0000,0000,0000,,It's in the federal program, so it still
Dialogue: 0,0:03:46.95,0:03:49.37,Default,,0000,0000,0000,,has some of the benefits of that program
Dialogue: 0,0:03:49.37,0:03:51.23,Default,,0000,0000,0000,,but it's a higher rate, but again,
Dialogue: 0,0:03:51.23,0:03:53.65,Default,,0000,0000,0000,,it still has a lot of the other benefits
Dialogue: 0,0:03:53.65,0:03:55.05,Default,,0000,0000,0000,,of the federal program and it's
Dialogue: 0,0:03:55.05,0:03:56.63,Default,,0000,0000,0000,,backed by the federal government.
Dialogue: 0,0:03:56.63,0:03:57.40,Default,,0000,0000,0000,,- [Interviewer] Great,\Nokay, great, so that makes,
Dialogue: 0,0:03:57.40,0:03:59.41,Default,,0000,0000,0000,,those are for the\Nfederal government loans.
Dialogue: 0,0:03:59.41,0:04:01.64,Default,,0000,0000,0000,,What about sort of state\Nor college sources.
Dialogue: 0,0:04:01.64,0:04:03.25,Default,,0000,0000,0000,,What are those loans all about?
Dialogue: 0,0:04:03.25,0:04:04.91,Default,,0000,0000,0000,,- [Sean] So again, that\Nreally is gonna depend
Dialogue: 0,0:04:04.91,0:04:07.07,Default,,0000,0000,0000,,on the state and it's really\Ngonna depend on the college.
Dialogue: 0,0:04:07.07,0:04:09.31,Default,,0000,0000,0000,,So, those could be very good options.
Dialogue: 0,0:04:09.31,0:04:11.75,Default,,0000,0000,0000,,Personally, when I was in college I had
Dialogue: 0,0:04:11.75,0:04:13.78,Default,,0000,0000,0000,,some of my loans were college loans
Dialogue: 0,0:04:13.78,0:04:16.82,Default,,0000,0000,0000,,and those loans were actually,\Nhad no interest rate at all.
Dialogue: 0,0:04:16.82,0:04:18.51,Default,,0000,0000,0000,,So I was basically allowed to borrow,
Dialogue: 0,0:04:18.51,0:04:20.30,Default,,0000,0000,0000,,again, in that example we used before,
Dialogue: 0,0:04:20.30,0:04:23.22,Default,,0000,0000,0000,,I borrowed 5,000 dollars but\Nthere was no interest at all.
Dialogue: 0,0:04:23.22,0:04:25.09,Default,,0000,0000,0000,,All I paid back over the life of the loan
Dialogue: 0,0:04:25.09,0:04:27.71,Default,,0000,0000,0000,,was the 5,000 dollars, so college loans
Dialogue: 0,0:04:27.71,0:04:29.55,Default,,0000,0000,0000,,can be a really good opportunity,
Dialogue: 0,0:04:29.55,0:04:30.85,Default,,0000,0000,0000,,but again, not all colleges offer them
Dialogue: 0,0:04:30.85,0:04:32.85,Default,,0000,0000,0000,,and some of them don't\Nhave as good of terms
Dialogue: 0,0:04:32.85,0:04:34.57,Default,,0000,0000,0000,,as say the federal government does.
Dialogue: 0,0:04:34.57,0:04:35.84,Default,,0000,0000,0000,,- [Interviewer] Okay,\Nso that's really sort of
Dialogue: 0,0:04:35.84,0:04:37.66,Default,,0000,0000,0000,,state by state, college by college.
Dialogue: 0,0:04:37.66,0:04:39.37,Default,,0000,0000,0000,,There's not sort of a\Ngeneral rule of thumb,
Dialogue: 0,0:04:39.37,0:04:40.56,Default,,0000,0000,0000,,it's just worth looking into.
Dialogue: 0,0:04:40.56,0:04:41.42,Default,,0000,0000,0000,,- [Sean] But it's worth looking into.
Dialogue: 0,0:04:41.42,0:04:44.44,Default,,0000,0000,0000,,The colleges will, if\Nyou qualify for them,
Dialogue: 0,0:04:44.44,0:04:45.87,Default,,0000,0000,0000,,they'll give you those options.
Dialogue: 0,0:04:45.87,0:04:48.74,Default,,0000,0000,0000,,At the state level, it's\Nalso worth looking into.
Dialogue: 0,0:04:48.74,0:04:50.68,Default,,0000,0000,0000,,The colleges will\Ngenerally be able to sort
Dialogue: 0,0:04:50.68,0:04:52.46,Default,,0000,0000,0000,,of let you know if you\Nqualify for these loans
Dialogue: 0,0:04:52.46,0:04:54.78,Default,,0000,0000,0000,,and you can decide how good they are for
Dialogue: 0,0:04:54.78,0:04:56.43,Default,,0000,0000,0000,,your family and your situation.
Dialogue: 0,0:04:56.43,0:04:57.71,Default,,0000,0000,0000,,- [Interviewer] Great,\Nand then you mentioned
Dialogue: 0,0:04:57.71,0:04:58.96,Default,,0000,0000,0000,,federal, state, college, and
Dialogue: 0,0:04:58.96,0:05:00.18,Default,,0000,0000,0000,,you also mentioned private loans.
Dialogue: 0,0:05:00.18,0:05:02.20,Default,,0000,0000,0000,,Where do those kind of\Nfall into this equation?
Dialogue: 0,0:05:02.20,0:05:05.18,Default,,0000,0000,0000,,- [Sean] So, I think in\Nterms of the best terms,
Dialogue: 0,0:05:05.18,0:05:07.40,Default,,0000,0000,0000,,the most flexibility,\Nthey're probably at the,
Dialogue: 0,0:05:07.40,0:05:09.53,Default,,0000,0000,0000,,you know, they would be my last option.
Dialogue: 0,0:05:09.53,0:05:10.89,Default,,0000,0000,0000,,Now, they could be very\Ngood options for a family
Dialogue: 0,0:05:10.89,0:05:13.18,Default,,0000,0000,0000,,that still need money, but I would say
Dialogue: 0,0:05:13.18,0:05:14.89,Default,,0000,0000,0000,,if you've exhausted those other options,
Dialogue: 0,0:05:14.89,0:05:18.04,Default,,0000,0000,0000,,this is, that's probably\Nthe next place to go.
Dialogue: 0,0:05:18.04,0:05:19.56,Default,,0000,0000,0000,,You know, they aren't subsidized.
Dialogue: 0,0:05:19.56,0:05:21.22,Default,,0000,0000,0000,,They are not need-based.
Dialogue: 0,0:05:21.22,0:05:23.49,Default,,0000,0000,0000,,And they definitely require,\Nmost of them will require
Dialogue: 0,0:05:23.49,0:05:25.10,Default,,0000,0000,0000,,a parent to commit to repay
Dialogue: 0,0:05:25.10,0:05:27.01,Default,,0000,0000,0000,,the loan if the student fails to.
Dialogue: 0,0:05:27.01,0:05:30.72,Default,,0000,0000,0000,,The interest rates will vary\Nby the different institutions.
Dialogue: 0,0:05:30.72,0:05:33.32,Default,,0000,0000,0000,,So, banks, other financial institutions
Dialogue: 0,0:05:33.32,0:05:34.43,Default,,0000,0000,0000,,typically have the highest interest rates
Dialogue: 0,0:05:34.43,0:05:37.17,Default,,0000,0000,0000,,and the least flexible payment options.
Dialogue: 0,0:05:37.17,0:05:38.96,Default,,0000,0000,0000,,- [Interviewer] So then,\Nwhy wouldn't, as a student,
Dialogue: 0,0:05:38.96,0:05:42.07,Default,,0000,0000,0000,,why wouldn't I just\Ntake all Stafford loans
Dialogue: 0,0:05:42.07,0:05:44.45,Default,,0000,0000,0000,,or Stafford subsidized, or you know,
Dialogue: 0,0:05:44.45,0:05:46.46,Default,,0000,0000,0000,,if I didn't qualify,\NStafford unsubsidized.
Dialogue: 0,0:05:46.46,0:05:49.31,Default,,0000,0000,0000,,Why would I even bother looking
Dialogue: 0,0:05:49.31,0:05:51.05,Default,,0000,0000,0000,,at something like a private loan.
Dialogue: 0,0:05:51.05,0:05:53.30,Default,,0000,0000,0000,,- [Sean] Well, unfortunately,\Nwith a Stafford loan,
Dialogue: 0,0:05:53.30,0:05:54.74,Default,,0000,0000,0000,,right now, in the first\Nyear the most you can
Dialogue: 0,0:05:54.74,0:05:56.80,Default,,0000,0000,0000,,take out is 5,500 dollars and you may need
Dialogue: 0,0:05:56.80,0:05:58.56,Default,,0000,0000,0000,,a little bit more than that for loans.
Dialogue: 0,0:05:58.56,0:06:00.66,Default,,0000,0000,0000,,So, you may need to look at other options
Dialogue: 0,0:06:00.66,0:06:02.36,Default,,0000,0000,0000,,and so that's why you would move down.
Dialogue: 0,0:06:02.36,0:06:05.16,Default,,0000,0000,0000,,With a Perkins loan, you may not qualify
Dialogue: 0,0:06:05.16,0:06:07.10,Default,,0000,0000,0000,,because you don't meet\Nthe income standards
Dialogue: 0,0:06:07.10,0:06:09.04,Default,,0000,0000,0000,,and for the subsidized Stafford loan,
Dialogue: 0,0:06:09.04,0:06:10.42,Default,,0000,0000,0000,,you may not qualify for that.
Dialogue: 0,0:06:10.42,0:06:13.02,Default,,0000,0000,0000,,So, again, you may, you would definitely
Dialogue: 0,0:06:13.02,0:06:14.94,Default,,0000,0000,0000,,qualify for the unsubsidized loan,
Dialogue: 0,0:06:14.94,0:06:16.04,Default,,0000,0000,0000,,but then if you need a bit more
Dialogue: 0,0:06:16.04,0:06:17.53,Default,,0000,0000,0000,,you may have to go to\Nthese other alternatives.
Dialogue: 0,0:06:17.53,0:06:18.70,Default,,0000,0000,0000,,- [Interviewer] I see,\Nso if you kind of pass
Dialogue: 0,0:06:18.70,0:06:21.46,Default,,0000,0000,0000,,that yearly maximum on the Stafford loans,
Dialogue: 0,0:06:21.46,0:06:23.46,Default,,0000,0000,0000,,you don't qualify income-wise for Perkins,
Dialogue: 0,0:06:23.46,0:06:26.09,Default,,0000,0000,0000,,then it'll be down to either a plus loan,
Dialogue: 0,0:06:26.09,0:06:27.62,Default,,0000,0000,0000,,which has a fairly high interest rate,
Dialogue: 0,0:06:27.62,0:06:30.08,Default,,0000,0000,0000,,state or college loan,\Nwhich kind of varies,
Dialogue: 0,0:06:30.08,0:06:31.93,Default,,0000,0000,0000,,or the private loans, and\Nthose can have variable
Dialogue: 0,0:06:31.93,0:06:34.26,Default,,0000,0000,0000,,interest rates and maybe\Nnot as good repayment terms.
Dialogue: 0,0:06:34.26,0:06:34.87,Default,,0000,0000,0000,,- [Sean] Right.
Dialogue: 0,0:06:34.87,0:06:37.05,Default,,0000,0000,0000,,- [Interviewer] But it sounds\Nlike first and foremost,
Dialogue: 0,0:06:37.05,0:06:39.77,Default,,0000,0000,0000,,if you can get access\Nto Stafford or Perkins,
Dialogue: 0,0:06:39.77,0:06:40.77,Default,,0000,0000,0000,,that's the place to start?
Dialogue: 0,0:06:40.77,0:06:42.27,Default,,0000,0000,0000,,- [Sean] Yes, absolutely.
Dialogue: 0,0:06:42.27,0:06:43.96,Default,,0000,0000,0000,,- [Interviewer] Great, thank you so much.