Scholarship News

Don't Borrow More Than You Need


November 21, 2007
by Administrator
Limiting the amount of money you borrow is a basic principle of good money management. College students who are able to finance their education through federal student loans, are fortunate to have access to low interest rate educational funding that puts earning a degree within their reach.

Limiting the amount of money you borrow is a basic principle of good money management. College students who are able to finance their education through federal student loans, are fortunate to have access to low interest rate educational funding that puts earning a degree within their reach.

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However, just because money is available to borrow does not necessarily mean that you should borrow it. If you are eligible for more student loan money than you really need, you may want to limit the amount you borrow. After all, even though the interest on a federal student loan tends to be lower than on other types of debt, it is still debt.

Additionally, you shouldn’t stop looking for scholarship resources just because you are able to access student loans. If you can get a scholarship to cover some of your expenses, you can reduce the amount of money you need to borrow and will ultimately have to repay. Many scholarship programs are available only to upper division students, so you should definitely keep your eyes open for funding opportunities even after you enroll in college.

Getting more college financial aid doesn’t have to be a relentless search. Scholarships.com is totally free. Connect with our massive database of millions of college scholarships at any time by searching for awards in a variety of ways. Scholarships.com offers the quickest and easiest way to search for, apply to, and win college scholarships. Start making your college education affordable or perhaps even free, by conducting a free college scholarship search at Scholarships.com.

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