Understanding Student Loans

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What is a student loan?

Understanding Student Loans

Trying to find funding for your college tuition can be stressful, especially since you often feel like you're fighting a race against the clock. But don't let that race turn into an excuse for making a poor decision when it comes to choosing the student loan you take. Instead, be sure to give yourself enough time to compare student loans before you commit to one of them.

What is a student loan, really?
A student loan is more than just a vehicle to get you from class to class this semester. It's a long-term commitment to borrow money and pay it back with interest. Unfortunately, when getting a student loan, many students think that it doesn't matter who they borrow from because all the rates are the same. This is simply untrue, so you must compare student loans to make sure that you get the very lowest rates. There are both federal and private loans that you can take, and you must compare each to determine which offers the most benefit to you. In addition, during your search, you should explore any scholarships or grants you might qualify for.

   

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