Many students rely on loans to help finance their higher education. Here are some things you should keep in mind about student loans.
First, you should max out your federal student loans before looking at private loans. ?Though the rate is on the high end, Staffords come with valuable perks, including a flexible repayment option, which caps your child?s monthly student loan bills after graduation at 15% of his disposable income.?
If you do need more assistance after maxing out your federal student loans, shop for cheaper loans. PLUS loans may be a good alternative. In addition, some nonprofits and charities offer low-cost college loans. ?The Military Officers Association of America, for one, offers interest-free loans of up to $5,500 a year to children of soldiers or veterans with a GPA of at least 3.0.?
Did you take out student loans to help finance your college degree? How did you decide which loans to take?
Source: CNN
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