This should be your last resort to help pay for school after looking into scholarships and institutional aid (money given to students from the college).

Taking out a loan is a very personal decision therefore it is important to learn what it means to take out a student loan before you agree to do so. There are some loans that don't acquire interest until 6 months after you graduation like unsubsidized loans. 

 

If you think you are going to have to take out a loan, don't be afraid, be prepared. Many students take out loans to fill their financial need gap.

A common piece of advice is "Your amount of student loans should be less than your first year post-graduation salary." and only take out what you need. 

More Helpful Resources to check out!

FinAid

This site helps explain student loans, parent loans, loan interest.  They even have a loan calculator to see what your projected monthly costs would be. 

Ready Set Repay

Ready Set Repay helps high school students understand student loans and how to pay them off once they graduate.

UCanGo2

This website helps break down ways to pay for college. When you click "High School Student" you will find a tab that explains loans. 

Federal Student Loan Program

Read frequently asked questions and answers about federal loans that you could qualify to cover your educational costs.

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