Understand lender terms and compare private education credit with other aid in your offer.
Program rules, amounts, and dates can change. Check the linked official sources for the current cycle.
Review rate and repayment terms
Ask whether the rate is fixed or variable, when repayment starts, what fees apply, and what happens after a missed payment. Read the disclosures and promissory note.
Compare the full cost
Estimate payments under the lender’s terms and compare them with your expected budget. Federal and private student loans can have different terms and protections.
Review other aid first
Separate grants, scholarships, work-study, and federal loan options in the school’s offer. Ask the financial aid office about anything unclear.