All About Student Loans
AAA
  1. Student Loans: Introduction
  2. Student Loans: What Can You Afford To Borrow?
  3. Student Loans: Federal Loans
  4. Student Loans: Private Loans
  5. Student Loans: Loan Repayment
  6. Student Loans: Repayment During Financial Hardship
  7. Student Loans: Paying Off Your Debt Faster
  8. Student Loans: Federal Loan Consolidation
  9. Student Loans: Private Loan Consolidation
  10. Student Loans: Conclusion

Student Loans: Introduction

By Reyna Gobel

How to pay for college is as complicated and important a decision as which college to choose, what to major in and whether to live on or off campus. Because if you don't have (or know where to get) at least $20,000 to go to a state college for four years, your college dreams will be shattered before you even set foot on campus for orientation.
Student loans bridge the gap between what you and/or your parents have saved for your education, the scholarships you receive and the part-time work you expect to acquire to complete the puzzle.

The student loan puzzle is also for those who already have student debt and need to determine their options for combining loans, reducing payments and paying off their student loan debt faster than they anticipated. Here's we'll address every aspect of student loans, from applying for one to paying it off.

Student Loan Benefits
The benefits to borrowing for your education seem limitless. You'll have the chance to work in your chosen career field because you'll have the money to complete college. If your loans cover all your expenses, you won't have to work as much, or at all, as you otherwise would have planned to while in school. With this newfound freedom, you can concentrate on your studies, work unpaid internships and/or engage in extra-curricular programs where you can explore different career fields that you wouldn't have had time for if you had to work your way through college.

How Student Loans Can Become a Burden
While student loans can help you pay for an education, many former students are learning the hard way that it would have been a good idea to base their student loan on the amount they will be able to afford in monthly payments after graduation.

During this tutorial, current and future students will learn how to obtain and pay off student loans. We'll also consider options available for repayment and consolidation - a valuable piece of information for those already saddled with student debt.

Student Loans: What Can You Afford To Borrow?

  1. Student Loans: Introduction
  2. Student Loans: What Can You Afford To Borrow?
  3. Student Loans: Federal Loans
  4. Student Loans: Private Loans
  5. Student Loans: Loan Repayment
  6. Student Loans: Repayment During Financial Hardship
  7. Student Loans: Paying Off Your Debt Faster
  8. Student Loans: Federal Loan Consolidation
  9. Student Loans: Private Loan Consolidation
  10. Student Loans: Conclusion
RELATED TERMS
  1. Transferable Points Programs

    With transferable points programs, customers earn points by using ...
  2. Good Student Discount

    An auto insurance policy discount available to young drivers ...
  3. Whartonite

    A graduate of the Wharton School of Business at the University ...
  4. Luhn Algorithm

    An algorithm used to validate a credit card number.
  5. Roll Rate

    The percentage of credit card users who become increasingly delinquent ...
  6. Truncation

    The requirement mandated by the FTC for merchants to shorten ...
RELATED FAQS
  1. Why is more interest paid over the life of a loan when it is capitalized?

    More interest is paid over the life of a loan when that interest is capitalized because the capitalized interest is added ... Read Full Answer >>
  2. What are the most common sources of funds given in a financial aid award letter?

    Most people cannot afford to pay for college tuition for four or more years without some sort of financial aid or assistance. ... Read Full Answer >>
  3. Can I use my IRA to pay for my college loans?

    If you are older than 59.5 and have been contributing to your IRA for more than five years, you may withdraw funds to pay ... Read Full Answer >>
  4. Can my IRA be used for college tuition?

    You can use your IRA to pay for college tuition even before you reach retirement age. In fact, your retirement savings can ... Read Full Answer >>
  5. Can I use my 401(k) to pay for my college loans?

    If you are over 59.5, or separate from your plan-sponsoring employer after age 55, you are free to use your 401(k) to pay ... Read Full Answer >>
  6. What are the best MBA programs for corporate finance?

    Opinions vary based on which publications you consult, but the best MBA programs for a career in corporate finance are at ... Read Full Answer >>

You May Also Like

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!