Most college educations are financed by college loans, but what are the long term effects of taking out loans?
Inspired by this New York Times Article about things students wish they’d known about college loans, Megan and Gretchen discuss the top mistakes students make when they’re choosing how to finance college.
Specifically, they break down:
- how to use a loan calculator to find out how much you’ll be paying per day for interest,
- how to balance considerations about the income potential of your future career compared to your monthly loan payment
- how to take an honest look at your true intentions for going to college, and then choose accordingly,
- and how to pace yourself with the college search so you don’t get your heart set on a school that you may not be able to afford.