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How to choose a student loan to get the money you need for college or grad school

How to choose a student loan to get the money you need for college or grad school
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Student loans come in two types: federal and private.




To choose a student loan, you'll first want to figure out how much you need to borrow, and then which options are available to you at what rates.




Compare your options and terms before choosing a loan, then choose the one with the most favorable terms and find out when you first payment is due.




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If you're in need of funding for college, first look at any scholarships, grants, and family support available.
On its website, the US Department of Education recommends accepting "free money first (scholarships and grants), then earned money (work-study), then borrowed money (federal student loans)."
If scholarships, grants, and work study don't cover your college costs, you'll probably start looking at student loans to bridge the gap. If you need student loans for college, here's a quick guide on how to choose one.
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