Students should only consider loans after exhausting all other resources such as personal savings, school payment plans, employer tuition benefits, and scholarships. The cost of higher education is an investment in yourself – the more you borrow, the higher https://worldpaydayloans.com/payday-loans-al/jasper/ the cost, lowering your return on investment. If you have to borrow money, apply the income tax savings, if any, as a lump sum payment toward the principal balance of your student loan.
First, do your homework. Even before looking at loans, students should research and consider costs at different universities. For example, tuition and fees at online universities vary widely, from approximately the same cost as public universities to more than twice as much. Continue reading “Q&A: University Vice President of Financial Aid”