Take the time to meet with your college’s financial aid adviser to ask questions about financial aid requirements and student loan information. Don’t be embarrassed: it’s their job to explain this complex topic and to help you (not prevent you) from attending their college.

  1. What is the total annual cost to attend this college?
  2. Are there any extra costs that I need to plan for?
  3. What employment opportunities (including work-study) are available for students?
  4. What scholarships might I be eligible for?
  5. What reduced cost, sponsored student loans am I eligible for?
  6. What loans have the lowest interest rates and fees?
  7. When would I have to start paying back the loans, and how flexible is the repayment plan?
  8. Will the school reduce my financial aid or loans if I also get a private scholarship?
  9. What would cause me to lose my financial aid?
  10. Depending on what degree I earn, what kind of loan forgiveness programs are available? Would the loans I’m considering be eligible for loan forgiveness?
  11. Based on the amount I’m borrowing, what will I owe at the time I graduate? What will my monthly payments be?
  12. How much does the average student owe when at graduation?



Source: Christine MacDonald, The Detroit News.