Student Loans: Conclusion
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: Conclusion

By Reyna Gobel

Let's recap what we've learned about student loans:

  • How to pay for college is as complicated and as important a decision as which college to choose, what to major in and whether to live on or off campus.
  • Only borrow what you can afford to pay back after graduation based on income estimates in your career field.
  • Filling out a FAFSA form is crucial to securing student aid.
  • Exhaust federal funding options before applying for private loans.
  • Most private loans have variable interest rates, and initial rates vary based on yours or your cosigner's credit rating.
  • The standard federal loan repayment program lasts 10 years.
  • Public service employees and others with low incomes have additional options for repayment based on annual income.
  • Federal loan programs offer options for postponing payment during a financial hardship situation.
  • Federal consolidation can extend your loans up to 30 years.
  • Consolidating private loans is the best way to secure a fixed interest rate on your private student loans.
  • Managing your student debt borrowing based on what you can afford to repay is the best way to get an education and avoid financial trouble down the road.

  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. Fullz

    A slang term that criminals who steal credit card information ...
  2. Dial-Up Card Reader

    An electronic credit card machine that sends data through an ...
  3. Soft Inquiry

    A credit report check that does not affect an individual's credit ...
  4. Balance Chasing

    The gradual lowering of a consumer’s credit limit by a credit ...
  5. Closed Loop Card

    A credit card or gift card that a consumer can only use to make ...
  6. Bust-Out

    A type of credit card fraud where an individual maxes out the ...
  1. What are the most common sources of funds given in a financial aid award letter?

    Read this article to learn about the four most common sources of funding given in a financial aid award letter sent to a ...
  2. How does accrued interest work on student loans?

    Learn how student loan borrowers are affected by accrued interest on outstanding loans balances while in deferment and during ...
  3. What advice has Tim Cook given to would-be business leaders?

    Learn what Apple CEO Tim Cook had to say to the business leaders of the future during an address at Duke University's Fuqua ...
  4. Where did the term Magna Cum Laude originate from and why is it used in academics?

    Learn what "magna cum laude" means, read about its etymology and review why academic institutions use this phrase and other ...

You May Also Like

Related Tutorials
  1. Professionals

    Complete Guide To Corporate Finance

  2. Credit & Loans

    Credit Card Tutorial

  3. Credit & Loans

    Credit And Debt Management

  4. Savings

    529 Plan Tutorial

Trading Center