Student Loans
01.Borrowing for Your Brain
If savings, scholarships, and grants don't cover the full cost of college, students can borrow the rest using student loans. The government and private banks offer these loans, which are paid back after graduation.
02.Understanding Student Debt
Student loans are considered 'good debt' because they help you earn more money later. But they still charge interest! If you borrow too much, the monthly payments after college can be very heavy, making it harder to buy a car or save for a house.
03.Borrowing Smart
A good rule of thumb is to never borrow more in total student loans than you expect to earn in your first year of work after graduation. Keep your borrowing as low as possible by working part-time or attending community college first!