Financing Q from incoming MBA student: Applied through Juno and just got approved for a loan from Earnest. Three quick questions: 1) confirming that I can only borrow for the upcoming year and would have to reapply next year? 2) I got 5.16% Fix APR - should I accept or look elsewhere? 3) does having a co-signer make a big difference?

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Also curious about these.

1) yes I believe that’s right — one year at a time and the upper limit will be determined by your school
2) that rate seems high. Isn’t the federal fixed rate around 4%? Why not consider variable rate given how low rates are right now?
3) I don’t know what difference it makes but my variable rate was very close to 1% last year with a co-signer

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