How much do you Owe in Student Loans
College is expensive, it is a simple fact. College costs keep going up and most people can't afford it without taking out loans. If they are lucky they can pay for it all with savings, scholarships, financial aid, and grants. Loans are the most popular type of aid for college and most students will graduate with some student loans.
How much do you owe in student loans? Your first choice in student loans should always be the government. They offer the Stafford Loan and others often with a better interest rate then if you looked for money in other places. Also, if you are in more financial need, you can get a subsidized Stafford Loan. This means that the government will pay the interest on your loan until six months after you graduate.
After government loans, you can look for student loan services, get a personal loan, take out a second mortgage, or use credit cards. I would recommend against the second mortgage or credit cards. If you are desperate enough to take out a second mortgage, you should look for a cheaper school.
If you still can't manage to pay for college, consider going to a cheaper school. Cheaper doesn't necessarily mean worse. State schools are cheaper because they also get money from the government, but they are no less quality.
If you really want to minimize your student loan debt, change your college choice. There is no reason to go to a really expensive school unless you either get a full ride there or you are a genius and just most go Ivy League.
If you go to a community college first and then transfer to a state school, you can save even more money. Community colleges are cheaper than state 4 year schools, and you will still get the four year degree.
If you can, go to a school nearby, live at home and commute. You can save a lot of money not having to pay for room and board. Many people find living in dorms overrated anyway. At my college, most students ended up getting their own apartments after the first year because they didn't like the dorms. If you stay at home, your parents will continue to support you just as they were before and it won't cost you extra for school fees.
Another way to help pay for college is to get a job. Get a part time job during school to at least pay for all your daily expenses and books. If you are a good saver, you can even stash some away for tuition.
How much do you owe in student loans? Your first choice in student loans should always be the government. They offer the Stafford Loan and others often with a better interest rate then if you looked for money in other places. Also, if you are in more financial need, you can get a subsidized Stafford Loan. This means that the government will pay the interest on your loan until six months after you graduate.
After government loans, you can look for student loan services, get a personal loan, take out a second mortgage, or use credit cards. I would recommend against the second mortgage or credit cards. If you are desperate enough to take out a second mortgage, you should look for a cheaper school.
If you still can't manage to pay for college, consider going to a cheaper school. Cheaper doesn't necessarily mean worse. State schools are cheaper because they also get money from the government, but they are no less quality.
If you really want to minimize your student loan debt, change your college choice. There is no reason to go to a really expensive school unless you either get a full ride there or you are a genius and just most go Ivy League.
If you go to a community college first and then transfer to a state school, you can save even more money. Community colleges are cheaper than state 4 year schools, and you will still get the four year degree.
If you can, go to a school nearby, live at home and commute. You can save a lot of money not having to pay for room and board. Many people find living in dorms overrated anyway. At my college, most students ended up getting their own apartments after the first year because they didn't like the dorms. If you stay at home, your parents will continue to support you just as they were before and it won't cost you extra for school fees.
Another way to help pay for college is to get a job. Get a part time job during school to at least pay for all your daily expenses and books. If you are a good saver, you can even stash some away for tuition.
About the Author:
Looking to find some of the best college loans? Avoid expensive college loan repayment and try to pay as much for school as possible without loans.
posted by Debt Consolidation Loan at
7:35 AM
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