May 25, 2007, Newsletter Issue #18: Receiving Federal And Private Student Loans

Tip of the Week

When looking at options to help you finance your college education, it is best to see what you could qualify to receive from the federal government first. It makes more sense to see if grants or low-interest loans are even an option first before applying for a private student loan that may be at a high-interest rate and require immediate repayment. Many students make the decision to accept both federal aid and private student loans to pay all of their costs. This is especially true at private schools with a high tuition and overall high cost of attendance.

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