Private student loans aren’t an inherently bad idea. When used wisely, they can be a way to close gaps between available student aid and the costs of college. But like any other form of debt, private student loans can become burdensome if you borrow more than you can afford. The lender you select is also important, as this determines so much of your private student loan costs and experience in repayment. To avoid any regrets, seriously weigh your options before taking out a private student loan.