Introduction
Navigating student loans can be overwhelming for many university students. This post will break down the various types of student loans available, how to choose the right one, and strategies for effective repayment.
Key Points:
- Types of Student Loans:
- Federal vs. Private Loans
- Subsidized vs. Unsubsidized Loans
- Repayment Plans:
- Standard Repayment
- Graduated Repayment
- Income-Driven Repayment Plans
- Strategies to Minimize Debt:
- Budgeting during college
- Applying for scholarships and grants
- Part-time work options and internships
- Tips for Post-Graduation:
- Loan consolidation
- Exploring forgiveness programs