General guidelines for responsible borrowing are: Keep track of how much you’re borrowing. Think about how the amount of your loans will affect your future finances, and how much you can afford to repay. Your student loan payments should be only a small percentage of your salary after you graduate, so it’s important not to…
DetailsThe first step in getting student aid is completing the Free Application for Federal Student Aid (FAFSA) at www.FAFSA.gov.[1] The website features a number of tutorial videos on obtaining a student loan and responsible borrowing. [1] https://studentloans.gov/myDirectLoan/index.action
DetailsBefore you take out a loan, it’s important to understand that a loan is a legal obligation that makes you responsible for repaying the amount you borrow with interest. If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Even…
DetailsIf you apply for financial aid for undergraduate college or graduate school, you may be offered loans as part of your school’s financial aid offer. A loan is money you borrow and must pay back with interest.[1] Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations.…
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