When and What to Borrow

Loans should only be borrowed after having exhausted all other forms of financial aid, such as scholarships, grants and work.

When determining an amount to borrow, it's strongly encouraged you only borrow what you need. To determine the amount of loan funds needed, subtract all of you current scholarships, grants and any other resources you have to pay for college (e.g., earnings from work, savings, trust funds, etc.) from your anticipated expenses. If all the other forms of assistance you have do not cover all of your expenses, then you may want to consider borrowing a loan only for the amount still needed to cover your remaining costs.

Visit our Cost Estimator to help determine both your estimated expenses.

If you've decide you need a loan, always consider interest rates and repayment terms. Often federal student loans are the most attractive loan options.