Borrowing Educational Loans
Educational loans can play an important role in covering your educational expenses. Before you borrow, it is important to assess your needs: Do I need additional funds to cover expenses? Do I need the full amount that is offered? Can I reduce my borrowing? Which loan is right for me?
Understanding the terms of each loan program will help students and families make educated decisions about their loan borrowing. Borrowers need to understand what will be expected once their loans enter repayment. Some important terms to understand are the interest rate, grace period, length of repayment, minimum monthly payment, repayment plans, and deferment/forbearance options.
Our web pages and resources can help you make informed decisions.