- Understand the type of aid offered: Identify your loans and grants (free money). Be wary of any package with more than 50% loans, and remember that work study does not go directly towards your tuition bill.
- Know your total debt Add $2,000 to $3,000 to each loan you will have to take out in your first year, and multiply by the four or five years you will be in school.
- Federal loans first Always accept all federal loans offered before resorting to private loans.
- All loans are not alike Be aware that loans have additional fees and different interest rates.
- Choose wisely Select the college that has the lowest unmet need and that allows you to incur the least debt.
SOURCE: ACCESS
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