- Average student debt comes to $20,000 for undergraduates, as very few students (or their parents) can afford college without some form of help. Almost 90% of students seeking student loans choose a lender recommended by their college or university, but that may not be the best choice, considering many schools receive hefty kickbacks from these preferred lenders.
- If you are preparing to start school and know you must rely on student loans to close the gap between what you can afford and the cost of your education, it's crucial to make informed choices. The loans you take out today will be with you for years to come, and if interest rates soar, your student loan debt could compromise your professional choices, your lifestyle and important financial decisions in your future.
- Continue reading to learn how to comparison shop for student loans, the differences between federal and private student loans and the pros and cons of having a parent co-sign.