College Loans

If you can’t afford to pay for college with your savings, financial aid, scholarships, and other resources, you may need to take out a loan that needs to be paid back. A college education can increase your career opportunities and your future salary. This means that taking out a college loan—as long as you borrow wisely—can be an excellent investment in your future.

Quick Guide: Which College Loans Are Best?

A subsidized loan is your best option. With these loans, the federal government pays the interest charges for you while you’re in college.

Types of College Loans

For many students, borrowing money—also known as taking out a loan—is a way to make their college dreams come true. But unlike other types of financial aid, loans must be repaid with interest. If you learn the facts about loans, you can borrow wisely.

How to Use Student Loans to Pay for College

This article will review things to consider when borrowing, different loan options, and tips for making informed decisions about investing in your education.

Borrowing: The Parent’s Role

While students are usually the ones who take out student loans, family support in the process can make a big difference. You should involve your family before borrowing money.

College Loans: Your Strategy

Should you consider student loans? Borrowing money for college can be a smart move if you have a strategy.

Tips for Managing and Paying Back Student Loans

Follow these tips to learn how to pay back your student loans on time.

What Are Federal Student Loans?

A federal student loan is money that you or your parents borrow from the government to pay for your education and repay later with interest.

What Are Private Student Loans?

Private student loans are money that you may borrow to pay for college from sources other than the government, such as banks, credit unions, and other financial institutions.

Get Help Paying for College

Most students get help paying for college. Use these resources to figure out how to find and apply for financial aid and scholarships, and how to understand the difference between gift aid, loans, and work-study jobs.