Are you considering beginning or continuing your education, but your concerned about financial aid an student loans?  Here’s some advice every student should know:

When applying for student loans there are several things to keep in mind.

• Understand the type of aid offered. This means, you should know the difference between loans and grants (free money). If at all possible, steer clear of loan packages with more than 50% loans. Keep in mind that work study does not go directly towards the tuition bill.
• Know your total debt. You can expect to pay an additional $2,000 to $3,000 for each loan you take out. Multiply this by the four or five years you will be in school.
• Always accept all federal loans offered before resorting to private loans. Private loans have much higher interest rates, shorter grace periods, and even shorter repayment periods.
• Remember that not all loans are created equal. Student loans have additional fees and different interest rates.

Learn more about the financial aid available for your program of interest.