How Student Loans Impact College Affordability
Like any large financial purchase, planning and researching student loans can greatly impact the affordability of your education. Because student loans are so relatively easy to secure and generally don’t need to be repaid for at least four and a half years after the initial student loan is written, it can be easy to take the first available student loan opportunity.
College is one of the single largest investments a person make in his or her lifetime and your choices throughout the student loan process can greatly impact the total amount you repay on your student loans.
To ensure that borrowers get the most affordable overall student loan combination for their particular situation, ScholarPoint has teamed up with Colligate Financial Services to offer advanced tools that help piece together customized student loans.
Use the Ed-Loans Wizard ® to first determine your estimated financial need based on your selection of schools. The Education Loan Marketplace™ will then automate the process of comparing schools of your choice and help you determine the most cost effective student loans for your unique circumstance.
Before entering college, the types of student loans you chose make the biggest impact on overall college affordability. After graduation, your choices around refinancing your student loans make the biggest impact. Refinancing student loans is the process of securing one low fixed rate loan to pay off the myriad of variable rate interest student loans accumulated throughout the college years.
Making smart choices throughout the student loan application process and student loan refinancing process can have an enormous impact on overall college affordability. By playing your cards right before and after college, you can set the foundation for a bright financial future.
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