Know the principal
Principal is the amount borrowed. Interest and certain fees can increase the total amount repaid over time.
AWARD EVO / GUIDE
Student Loan Information
Borrowing can close a funding gap, but the amount accepted today can affect your budget for years.
Compare interest details
Understand whether a rate is fixed or variable, when interest begins accruing, and how capitalization may affect the balance.
Estimate repayment
Look beyond the monthly payment. Compare total repayment cost, repayment period, and how the payment may fit alongside housing, transportation, and other post-school expenses.
Federal and private differ
Loan types can have different eligibility rules, protections, repayment plans, deferment options, cosigner requirements, and credit criteria.
Borrow deliberately
Consider grants, scholarships, savings, work income, school payment options, and lower-cost choices before increasing borrowing.
Verify before signing
Loan terms are contractual. Review current disclosures and ask the lender or responsible program questions before accepting funds.
Use information as a starting point—not a substitute for current terms.
Programs, eligibility rules, deadlines, award amounts, rates, and repayment provisions can change. Use these guides to organize your questions, then verify important details directly with the school, agency, grant administrator, lender, or program responsible for the information.
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