| One of the best things about going to college is being | | | | pay for tuition, purchase a new computer, buy books |
| able to pay for your studies by way of student | | | | and pay for living expenses while studying. |
| loans. These loans are quite easy to qualify for as | | | | However, you have to remember that when you |
| long as you have not defaulted on any previous | | | | apply for students loans, they will appear on your |
| student loan. To qualify you for college loans, the | | | | credit report as debts even if the loans are not in |
| lenders usually do not do a credit check. You just | | | | repayment mode, and this can affect your credit |
| have to give a few references who are only | | | | score adversely. As a student you may not make |
| contacted if your lender is unable to reach you. | | | | enough money to the anticipated monthly payment |
| More than half the student grants available in the US | | | | on the loan. This will reflect on your credit report as |
| are subsidized wherein the interest on the loan is paid | | | | having more debt in comparison to current income. |
| by the federal government and not the student. | | | | The fact that you are still studying and are not |
| However, to qualify for subsidized student loans, a | | | | making enough money but will obviously earn more |
| very low income is necessary and family size is also | | | | after completion of studies has no bearing with credit |
| taken into consideration. | | | | agencies. So, if you apply for another loan while |
| Student loans make it possible for many students to | | | | studying, it can affect you as you may not get |
| pursue higher education which otherwise would not | | | | approval for the loan. |
| have been possible. Student loans allow students to | | | | |