There are other financial aid options you should consider before going to a private student loan. Federal student loans, grants, and scholarships are where you should start for the most cost effective financial aid.
If you have explored these options, and still need additional funding, then private student loans are something to consider. Often times students will use these loans because they’ve received other financial aid, but still need additional money to cover the full cost of school.
If you find yourself in this position, make sure to do a detailed financial analysis to understand what your payments will look like after graduation. Use our student loan calculator to help with those estimated payments
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