Distinguish between needs and wants. Needs are essentials like tuition and textbooks, while wants might include a more expensive dorm room or lifestyle choices. Prioritize your needs to minimize borrowing.
Understand the total cost of a loan. This isn't just the amount you borrow; it includes interest, fees, and the loan term. A longer repayment period might reduce your monthly payment, but it increases the total interest paid over time. Use our transparent loan calculators to see the full picture.