1) Many of us have utilized loans to finance our college education. Utilizing information from the reading and from your personal experience list the factors that should be considered before taking out student loans.

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2) 50 word minimum for this reply.

I have been fortunate enough to not have to take out any student loans for college. I will be graduating this June if everything goes well, and I do not anticipate taking any loans. Before starting college I planned out my entire academic expenses at each school that I applied to. Once I chose PSU I also calculated how much financial aid and scholarships I would need to receive to not pay any out of pocket expenses. Luckily, I was awarded a full-ride and I continued to apply for scholarships as I went through my studies. Of course due to have all my expenses taken care of there were a lot that I did not qualify for, but I was able to secure some additional funds. This has helped me SO much, as I can be taking roughly 16+ credits a term and only work about 4 hours a week. I am able to save for emergencies and graduate two years early. I keep funds saved for emergencies and living expenses, I am able to pay all my personal bills, except for rent as I am still living at home with my parents.

Due to my circumstances I cannot share anything from my experience. However, I would consider aspects such as:

-When I begin to accrue interest?

-Are there additional fees involved?

-How long will it take me to pay it off?

-Can I put it off a bit longer, or do I actually need it now?

-Is the loan a private one or federal one? What option is best for me?

-What can I use my loan money for?

-Is the creditor trustworthy? Are there better options? Where will I have the most for what I pay?

-When can I refinance my loan if I am eligible?

-Is there possible relief from this loan? If not, are there other options that do offer this?

-Is it reasonable to expect myself to make payments and not negatively impact my credit/financial health?

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