Approximately 70-80% of students attending both public and private colleges and universities will depend on some form of financial aid to help offset their college and living costs while pursuing their degrees. It is important for all potential college students to understand how to use student loans and other financial aid resources effectively.
When you accept student loans, understand that this is not free money. Repayment is an obligation!
Understand the reason you need to incur student loan debt — for your education not for hanging out. Realize that you don’t have to accept the full amount of financial aid that you are rewarded. Accept what you need.
Student loan debt is often a long term debt. There are 4 different student loan repayment plans; the most common, Standard Plan allows 10 years to repay the loans off after college.
Being a student can be very stressful; don’t allow the stress of student loans or personal debt while at college become a barrier to your dreams of a degree.