|
|
Tips on Borrowing Smart
- Only borrow what you really need.
- Read your loan applications carefully and ask questions if you don't
understand something.
- Keep all loan information in single location.
- Know your rights and responsibilities as a borrower.
- Know what fees may be deducted from your loan amount before
it is disbursed.
- Speak with a financial aid counselor to get advice on possible loan options.
- Keep track of your loan debt. Try not to exceed the recommended maximum loan indebtedness.
- Save money by making interest payments on any loans that accrue interest while you are still in school.
- Make prepayments whenever you can, assuming the loan has no prepayment penalty.
- Contact your lender if you have any questions, if your information (name, address, phone) changes, or if you have problems with repayment.
- Remember to apply for financial aid every year, paying particular attention to deadlines.
|
|
|
