While many senior families will be taking on student debt in the coming years, the college office is aware that some students are not yet familiar with the specifics of their potential loans. Some are still investigating loan options, or, their parents are doing so.
If you are borrowing to pay for your college expenses, we strongly encourage you to take the time to familiarize yourself with your loan options. You also need to think about what your monthly loan payments might look like once you have left college, what kind of income you might be earning right out of college, and whether or not you will need to think about paying for graduate school.
The links below will be very helpful if you want to learn more about different types of student loans, tips for borrowers, and, calculators to help you get a practical understanding of what you’ll need to pay each month to pay off your projected debt.
https://studentaid.gov/understand-aid/types/loans
https://ticas.org/for-students-parents/
Remember also to communicate with your college’s financial aid office as needed.
