5 Financial Aid Mistakes Newly Accepted College Students Make
Mistake #1: Ignoring all college student scholarships
Mistake #2: Accepting all your financial aid award
Mistake #3: Not Registering for Courses on Time
If you plan to accept private and other federal student loans, you must educate yourself about the differences between each type of loan. Student loans come in various forms: subsidized, unsubsidized, parent plus loans, grad plus loans, and private loans. We suggest that parents also take the time to obtain information and inform themselves about the interest rates and repayment options for each loan type.
Once you have a brief understanding of what each one entails, weigh out your options and narrow them down to one-to-two types of loans. Students should consider that borrowing federal student loans is the right choice because they are cheaper, more accessible, and have great repayment plans.