Learn About Loans

Make an In-School Budget:
Resources vs expenses

Institutional Resources
Scholarships, grants, loans, assistantships and other funds offered by your school

Federal Financial Aid
U.S. Department of Education financial assistance for students at eligible institutions

Other (non-loan) Financing Options
Installment or prepayment plans, tuition remission, employer benefits, veterans benefits

Pin down the key factors:

• Cost of attendance
• Lender-imposed loan limits
• Existing financial commitments (credit cards, auto loans, etc.)
• Future income (assess the job market)

Shop for your loan

• Federal Student Loans - They're not all the same.
• What to look for in a private loan student loan
  • The overall cost of the loan (e.g., fees &
    interest rate)
  • Credit criteria & approval
  • Monthly payment
  • Grace period, deferment and forbearance options
  • Reputation of the lender, customer service and other service

Be a wise borrower

• Borrow as little as you need to attend the school you choose.
• Explore Federal Stafford Loans and Federal PLUS Loans before considering private student loans.
• Understand the terms and conditions of your loan.