All student loans need to be repaid once you leave school. On top of paying back the amount you borrow, you will also be charged interest which you will have to pay. Ultimately, you’ll end up paying back much more than you borrow. The higher the interest rate and the larger the initial balance of your loan, the more you’ll have to pay back.
You may also want to apply to colleges that offer better financial aid packages, and choose a more affordable (or even debt-free) college to attend. It’s important that you keep your student debt manageable. The more debt you have, the greater the impact it’ll have on your credit, which can make it hard to borrow money in the future. This can make it difficult to do things like buy a car or a home.
You may also want to apply to colleges that offer better financial aid packages, and choose a more affordable (or even debt-free) college to attend. It’s important that you keep your student debt manageable. The more debt you have, the greater the impact it’ll have on your credit, which can make it hard to borrow money in the future. This can make it difficult to do things like buy a car or a home.
Borrowing large amounts can also make it difficult to handle repayment. Missing payments or making late payments will also damage your credit score, making it harder to get loans in the future.