There are a lot of factors one should consider before going into debt or taking out a student loan. First, consider if you’ve maximized all of your other financial aid options such as scholarships and grants. If you do need to borrow, only borrow what you need. A good rule of thumb is not to borrow in total (both federal and private loans) more than you expect to earn in your first year’s salary after graduation.
Once you’ve decided to take out student loans, research and choose a lender that works best for you and your individual needs. Next, you’re going to need a way to keep track of exactly how much you’re borrowing, the expected monthly payment and when you will need to pay it back.
As time goes on, be sure to make your payments on time and keep the most up to date contact information with your loan provider. This will ensure you receive your monthly statements or any notices on your student loans.