Seniors … borrow wisely for college!
The financial aid award notification you received from your college(s) indicates the loans you qualify to borrow. It may include loans you borrow directly from the school (Perkins), from a lender (Stafford Loan), or from the federal government (Direct Loan). In addition, your parents may qualify for a PLUS loan. Your college will provide borrowing procedures.
Before you borrow, estimate your future monthly loan payments using our Student Loan Repayment Calculator at EducationQuest.org.
· Carefully research the college you plan to attend to make sure it’s a good fit. Transferring to a different college can add additional years of school and loan debt.
· Compare the estimated starting salary of potential careers to your estimated college debt to ensure you can afford future loan payments.
· Work while you go to college and use that money to pay living expenses.
· Use your student loan money only for tuition, books and fees.
· Keep track of your student loan debt throughout college at nslds.ed.gov so you’re not surprised by the amount when it’s time to graduate.
