05
Aug

VSAC’s new education loan guide ‘required reading’ before borrowing for college

Learn how to navigate loan choices and repayment options to minimize debt

WINOOSKI (August 5, 2016) – Nearly seven out of 10 Vermont students will take some loans to finance their education expenses and knowing how to compare loans and costs is essential to making college more affordable.

To help students be loan-smart, Vermont Student Assistance Corp. has published “My Education Loans” a concise, no-nonsense handbook that walks students and families through the financial aid process and how to avoid taking on too much debt.

“No one should have to face college loans on their own,” said Scott Giles, VSAC president and CEO. “Written with Vermonters in mind and with input from financial aid administrators at Vermont universities and colleges, this online guide is ‘required reading’ if you plan to borrow.”

Beginning with understanding financial aid awards, VSAC’s guidebook shows Vermonters how to apply for grants and scholarships, compare college costs and how to navigate the complex variety of available loans and repayment plans.

For most families, loans are an important part of their investment in education and training.  VSAC has over 50 years of working with families to reduce the cost of financing education. VSAC’s expertise includes time-tested strategies and insights to maximize Vermonters’ financial resources and manage debt successfully.

Among the topics covered in the guide:

  • Who gets financial aid

  • Minimizing how much to borrow

  • Which loans to accept and which loans to “shop”

  • How repayment works

  • What is “loan forgiveness”

  • Personalized loan counseling with an Advantage Loan Coach at VSAC

Before Vermonters take loans, it’s important to know how much debt they can afford, Giles said. “This guide helps Vermonters be better informed and prepared to make the right college financing choices that best suit their personal situation and needs.”

About VSAC – Changing Lives through Education and Training since 1965

Vermont Student Assistance Corporation is a public, nonprofit agency established by the Vermont Legislature in 1965 to help Vermonters achieve their education and training goals after high school. VSAC serves students and their families in grades 7-12, as well as adults returning to school, by providing education and career planning services, need-based grants, scholarships and education loans. VSAC has awarded more than $600 million in grants and scholarships for Vermont students, and also administers Vermont’s 529 college savings plan. Find us at www.vsac.org or check in on Facebook and Twitter. #changing lives

This entry was posted on Friday, August 5th, 2016 at 5:14 am and is filed under News & Views, Recommended Reading, VSAC News Releases.Both comments and pings are currently closed.