Pay for College, Step 4: Private Loans

Consider a Low-Interest Private Student Loan

After you have pursued all state, federal, and institutional aid, and you still don’t have enough funds for tuition and expenses, consider a private student loan.

Remember that loans must be repaid with interest, and the amount adds up over four years. Federal loans have low, fixed-rates for students and parents and should always be a first option.

Private loans are available as a last resort, and you should proceed with caution.To learn more about federal student loans, visit studentaid.gov. For information on private student loan options, reach out to the financial aid office at your college to ask for information.