Some required reading before you borrow
Thinking about taking out a loan to pay for your studies? You’re not alone: Nearly seven out of 10 Vermont students will take some loans to finance their education expenses. Knowing how to compare loans and costs is essential to making college more affordable.
Get some loan smarts with VSAC’s “My Education Loans,” a concise, no-nonsense handbook that walks you through the whole process, from decoding financial aid offers to understanding types of loans (they are NOT created equal) and what to consider as you choose a loan (and plan for repayment down the road). Our goal: to help you know more so you can borrow less and avoid taking on too much education debt.
No one should have to face college loans on their own. This guide is written with Vermonters (and any students attending college in Vermont) in mind and with input from financial aid administrators at Vermont universities and colleges. It’s "required reading" if you plan to borrow.
Beginning with understanding financial aid offers, VSAC’s guidebook shows you how to apply for grants and scholarships, compare college costs and how to navigate the complex variety of available loans and repayment plans.
Among the topics covered in the guide:
- Who gets financial aid
- How to minimize the amount you need to borrow
- Which loans to accept and which loans to “shop”
- How interest and repayment works
- What is “loan forgiveness”
- and more
For most families, loans are an important part of their investment in education and training. But before you take on loans, it’s important to know how much debt you can afford. This guide helps families be better informed and prepared to make the right college financing choices that best suit your personal situation and needs.
Need more help? Contact us. That's why we're here. Talk with one of our financial aid experts at 833-802-VSAC Monday-Friday, 8:00 am-4:30 pm, or schedule an appointment with a counselor from 10:00 am-3:00 pm in our Resource Center in Winooski.