I’ve done the college shuffle more than once in my life and it’s given my a view of all sides of the experience. One thing that differs this time is how aware I am of the financial commitment required. I don’t know of too many people who could pay for college tuition and expenses out of pocket, so student loans become a reality for many students.
Whether you go through your college, bank, or an online lender studentloan.com education loans are a long term commitment and must be paid back when you are no longer attending college. Because of this it worth investigating different lenders and ensuring that you are borrowing from a valid student loan vendor.
Not sure what kind of loans are available or if you qualify for them or any other assistance? Check out check out the Department of Education’s Federal Student Aid site to apply for aid and learn about all the different types of assistance available.
Don’t wait until the last minute either. The earlier you apply for financial aid the more your chosen college may be able to do for you. It’s best to use student loans for only the portion of your education that other types of aid don’t cover so that you don’t graduate with more debt than you can realistically pay off.
Of course, if you need to use student loans you should do so. A quality education that helps you acquire the job you desire is worth the price. Just remember that except in rare cases these loans must be paid back and are not cleared by bankruptcy.
Once I’m done with my education I’m going to start putting money away for Miss Muffin’s education. I won’t be able to pay for it all but it would be nice to have a little something to offer her when she’s ready to go. I just wonder where we’ll be living then.