The cost of attending college is expensive. Scholarships and grants are becoming few and far between, and the criterion qualifies less than 5 percent of all High School seniors. For most college students, student loans are the only payment method available. Student loans can be a reasonable way to finance an education, but on the other hand, if not carefully planned, student loans can be a disaster. Obtaining the loans are easy enough, yet maintaining them are quite another story.
Most students fail to research the loans before signing on the dotted line.
Next, the student is handed, again, a generic form to apply for student loans. Here is where the big mistake is made. Never apply for any loan simply because the college or university gives you the application. You need to research all of the lending institutions for the varying interest rates. The loans with the best interest are Perkins loans.