[LanceH]

My son qualified for $100 a year in federal loans. To my dismay, he actually took that loan. I had to have a conversation with him that it is better to just pay the $100 and not have the possibility of missing payments, getting interest and penalties, etc... Everything he has is a private loan which I cosign for -- and with an 850 credit score, I didn't get anywhere close to the advertised interest rates.