 Student
Loans
What Is
A Student Loan?
A student loan is a form of loan offered to a student to pay for tuition.
Student loans are usually granted by a bank, or a lender who specializes
in student loans.
Unlike grants and scholarships, student loans do need to be paid back.
Usually, you will not have to pay back the loan while you are still in
school. In most cases, you will begin paying back the loan 6-12 months
after you graduate or leave school. If you have several student loans,
you may be able to reduce your payments by consolidating
the loans into one.
How much
will a student loan pay?
The amount of the student loan varies, some are limited to certain amount
per year, generally around $2500 and up. Some loans will pay for all of
your education expenses, minus any other financial aid that you have received.
Keep in mind, that the higher the amount of the loan, the more you'll
have to repay after you leave school.
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