Here are some tips to help you borrow wisely. Check into employment opportunities in the occupation you have chosen before you enroll in a course of study. Get information about pay for the type of job you'll be seeking when you complete the program of study. Those who default on student loans often do so after they're disappointed because the schooling they received didn't lead to the type of job or pay the expected. Disappointment is understandable, but this doesn't relieve the obligation to repay the loan.
Some schools have strict rules on making refunds to students who withdraw.
Know the details of the school's refund policy before you enroll. Schools are required to provide you with this and other consumer information. Ask the school financial aid office to explain your budget. Make sure you understand the total cost of attending school including estimated living expenses. Think about your first job after leaving school.