If you find that your federal aid going to cover your education expenses you may need to apply for private student loans. Here are some things to consider and watch out for when applying for private loans.
Should you take a loan to get additional schooling? It’s a tough decision. First things first you need to figure out if the extra degree is worth it? Will it provide enough additional income to cover the costs of school, extra interest on your existing school loans, and the lost income while you are in school. If you decide it is worth it, then you need to decide if you should borrow more money to make it happen.
Student loan consolidation is one opportunity I failed to take advantage of when I should have. Though student loan debt is typically considered “good debt” (because it shows an investment in your future) and interest rates are lower than other loan categories, rates can still go up over time, and student loans can be a […]