Tips for managing your student loans
Tuesday, January 25, 2011
- Search and search again for that free money, which come in the form of scholarships and grants which you don’t have to repay.
- To make sure you’re eligible for grants and federal loans complete the FAFSA as early as possible each calendar year. That will help you determine if you will have to take out federal loans or private loans.
- Make sure to apply for federal loans first. They have lower interest rates and more generous payback terms.
- If you do take out private loans, compare interest rates, payment options, fees, and time limits.
- Meet with your college financial aid counselor as early as possible and set up a budget. Spend your money wisely.
- For detailed information about all forms of student loans, go to www.finaid.org/loans/studentloan.phtml
- Enjoy college as much as possible! This is the runway to take off on the beginning of your career, so enjoy it.
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