| Before getting a student loan, it is important to | | | | student loans, be sure to check into how much the |
| understand that you should only borrow for the cost | | | | borrowing restrictions are for your lender. The federal |
| of attendance including your tuition, lab fees, books, | | | | government places restrictions on borrowing amounts |
| and any living expenses you will have throughout the | | | | yearly and for the total amount you can borrow |
| year. Of course this amount should be lowered by | | | | during your education. Make sure you evaluate the |
| any other financial assistance you will receive. If you | | | | terms for each loan you will take on for the yearly |
| have been awarded a grant or scholarship, you | | | | and total restrictions. |
| should be able to lower your loan amount by the | | | | Take a close look at the financial commitments you |
| amount that has been awarded to you. | | | | currently have and honestly assess your current |
| Often, the school you want to attend figures the | | | | financial status. Doing this before you enter school |
| cost of attendance for a wide range of students and | | | | can let you have a better understanding of where |
| they don't take into consideration any grants or | | | | you are at in your current finances. After school, you |
| scholarships when publishing this dollar amount. You | | | | will be responsible for any of the student loans you |
| may not need to borrow as much as the school says | | | | have taken and any prior debt that you had as well. |
| you will due to your circumstances. Borrowing less | | | | Now take a moment to consider what your realistic |
| money now lowers your financial obligations in the | | | | future income will be. Do some job market research |
| future when it's time to start paying back the loan. | | | | online for the areas you plan on living after you attain |
| If you find you need more money than your school | | | | your degree. Your future income pays a big part in |
| allows to cover the cost of attendance, you can | | | | how much student loan debt you will be able to pay |
| make an appeal to have it re-evaluated. However, | | | | back after you leave school. Taking this into |
| the amount you are asking for cannot go over the | | | | consideration before getting a student loan will help |
| amount that federal regulations has established as a | | | | you to determine alternative payment plans to assist |
| maximum amount to be borrowed. | | | | you with making your payments early in your career. |
| If you are completely financing your education with | | | | |