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General Resource : Resources for Financial Aid >> 2. Student Loans and Advice

  • Student Loans - Borrow as Little as Possible
  • Student Loans
    Borrow as Little as Possible
    By Karen Schweitzer

    Though they can be a great way to finance your education, student loans must eventually be paid back. Over time, interest accumulates and by the time you get your degree you will be paying back much more than you originally borrowed. Make sure that you figure out what the total cost of borrowing is before you sign on the dotted line.

    You should also honestly evaluate the repayment schedule and determine whether or not you will be able to comply with this schedule after graduation. If you think you will have a problem, you may want to borrow less and budget more while you are in school.

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