Loans are great resources for getting financial help through college. They’re also a smart resource. College is expensive. And chances are, you may not be completely prepared to make loan payments while in college.
Once out of college, you can usually choose a repayment plan that best suits your new income and financial status. Sure, it may take a while to pay off, but your college-graduate level career will be worth it for years to come. In order to keep the amount you’ll have to repay to a minimum, only borrow the amount that you absolutely need each year. To help determine how much of your after-college income should be taken up by student loan payments, use the SLOPE Calculator.
If you have any questions about your loan and/or grant amounts, outstanding balances, disbursements or loan statuses, check with the National Student Loan Data System (NSLDS).