04.25.13 | The 6 Costliest Student Loan Mistakes
Mistake #1: Not comparing college costs
Colleges all write their financial aid award letters differently. Some count student loans as self help, others may include it in your financial aid total. Comparing your awards, item to item, can give you a better picture of where you stand financially with a school. Feeling ambitious? Figure out how much student loan interest will accrue over 4 years at each school to see how your choice can affect you when you graduate.
Mistake #2: Not applying for scholarships throughout college
The biggest student loan mistake you can make is taking out more than you need to. Many students stop searching for scholarships after their freshman year, but by applying regularly, you’re more likely to win money for school and need to take out less loans over your college career.