The first place you should look for help paying for school is scholarships and grants. If you’ve maximized those opportunities, see if your college offers a work-study program.
Work-study jobs are government-subsidized and are available to students who demonstrate financial need.
Federal loans can also be subsidized, meaning that the government pays the interest on the loan while you’re in school and up through the first six months after you graduate.
To find out which federal loans you qualify for, fill out the Free Application for Federal Student Aid (FAFSA) online.
If you’ve exhausted all these options, it may be time to consider a student loan.
Private student loans are similar to credit card loans.We used companies’ loan calculators, called their customer service agents (listening to the same 30 seconds of Vivaldi while on hold gets old fast) and read as much of the fine print as we could (there was a lot).Here’s what we found: Loan Limits Every student loan, whether federal or private, has a borrowing limit.Also, many student loan rates are variable rates, which means that they can fluctuate based on changes in the market.Private lenders have no obligation to offer forbearance periods or to defer payments due to hardship.