| Here are some important details on getting a college | | | | reduce your loan. You can cover part of the |
| loan. You don't have to spend more for college than | | | | expenses by taking on a part time job, so that you |
| necessary. | | | | won't have to borrow as much money as you initially |
| 1. Your school may have its own college loan | | | | determined. |
| program, though it may not always be the best deal | | | | 6. Choose a loan policy that has a fixed student loan |
| around. Some may have arrangements with private | | | | rate, and stay away from fluctuating loan rates. While |
| lending firms, which tend to offer higher rates. | | | | fluctuating rates can either be an advantage or a |
| Always consider different loan providers and the | | | | disadvantage, a fixed rate will keep a low rate at |
| different loan programs available to you to get the | | | | such level until the end of the loan term, and thus |
| best value. | | | | help keep your finances more manageable come |
| 2. Choose between the lowest rates around. Because | | | | repayment time. |
| college loans do not require payment while you're still | | | | 7. You can avail of an additional loan, but do so only |
| in college, choosing a policy with the lowest rate | | | | after consulting with a financial aid counselor. You'll do |
| proves vital in preventing a post-college financial | | | | well in paying for the interest of the loan while you're |
| struggle. | | | | in college, instead of letting it accumulate and add to |
| 3. You don't have to borrow the maximum amount | | | | your future obligations. |
| they are offering. Borrow only the amount you really | | | | 8. Student loans are the least expensive of the |
| need, determined by taking into consideration your | | | | options around, followed by federal or direct loans, |
| financial status, the total amount of expenses you'll | | | | while alternative loans are the most expensive. |
| be incurring, and the amount that will be shouldered | | | | 9. When opting for a direct or Stafford loan, expect |
| by your parents or family. Minimizing the amount you | | | | a deduction of up to 4 percent, as a fee, from the |
| intend to borrow will be of big help when the time | | | | amount that is supposed to be sent to your school. |
| comes that you have to include the payments in | | | | 10. Once your loan becomes effective, it would be |
| your monthly budget. | | | | wise to monitor your loan account or the |
| 4. Applying for college loans takes time, so submit | | | | repayments due monthly after you have finished |
| your application early. This way, you won't have to | | | | college. This is to make sure that no unnecessary or |
| miss the first few classes. Also, follow instructions | | | | unfair adjustments are made, and help you determine |
| meticulously to avoid delays. | | | | what you could do to lower the amount. |
| 5. You can earn enough during college to significantly | | | | |