When you need to borrow money for school, BorrowSmart.
Choosing the right way to pay tuition is just as important as choosing the right school. BorrowSmartsm encourages families to look into all your options and select the best choice for you and your budget. In other words, don't just borrow — borrow smart.
The first step in smart borrowing is exploring the options that reduce unnecessary debt, such as:
- Grants
- Scholarships
- Monthly payment plans
If you need additional funding, the next step is to consider:
- Federal loans, that provide lower interest costs
- Private loans,* to bridge the gap between the cost
of education and traditional financial aid
* Private loans are subject to credit approval.