1. Don't always take you financial advisors word as gold. Do the research yourself BEFORE you sign the promissory note (contract).
2. Take out as few loans as possible, especially the private ones. If you can work a part time job while in school to pay for living expenses, books or whatever, do it. You'll appreciate it when you graduate.
3. Know that the "grace" period you get after you graduate is not necessarily after you graduate. If you drop below half time at any point you go into grace status and if you are in grace status for more than 6 months its used and gone forever. That means anytime you not taking classes, like summer, you'll have to pay.
3. Government funded Stafford loans and privately funded loans are different in alot of ways. I say again, check before you sign!
4. If you are paying for school yourself apply for your FAFSA as soon a possible at fafsa.ed.gov.
5. With Government loans Subsidized means they pay your interest while your in school and grace. Unsubsidized means interest will be charged the whole time and will be added to the initial loan amount. Meaning you will have to pay that after you're done with school.
6. And remember, Grants are free money you do not have to pay back. Loans are just that, loans. You will have to pay that money back, with interest. So choose carefully.
Really helpful! Thanks!
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