<prompt> Human: As the title says, I screwed up big time last semester by doing really poorly in my classes. Since this is the second time Ive made an appeal for federal loans, Ive been refused financial help and wont be able to get it back. Ive only taken out subsidized federal loans totaling 9,500, and no private loans so far. I have 3 semesters left and dont have a jobwhich I plan on getting. Even if I do get a part time job theres no way it could pay for living expenses and tuition.I found this site and so figure Ill probably either take a loan from Sallie Mae or Wells Fargo. I wanted to know what your experience was with taking out private loans because I am sort of freaking out right now. I really dont want to take out a private loan.  <response>: So reading your previous comments I would say: take the private student loan. Get a good balance between working income and studying during the next semester. Your study is the most important thing, since youre investing this money the borrowed money for the goal of improving your understanding of computer science, and for getting that diploma. Re-evaluate after next semester. If youre doing well, continue and continue to borrow money. If youve continued to do poorly, you might be better off quitting and finding something else to do with your life. The poor grades youve had will cause you to pay more in interest over the course of the loan. However, it is still much less interest than what you would pay on a credit card. And also, the loans will open up a career path for you, one that makes you happier and one that pays you more money. This investment may very well still be worth it. Read the small print and stick to any requirements that are made. Be aware that private companies also have to stick to their part of the deal. If you behave like a good customer, they will probably not fuck you over. Be aware of your rights, be aware of the deal that both of you will be signing. Start paying back the loans as soon as you can with all of your might... 