Tuition Bill - 5 Tips to Handle it Successfully
The fall semester is around the corner, and your tuition bill has probably already arrived. Opening that envelope is never fun, and often intimidating, but it's a reality we all must face. Follow our advice below to manage your finances and borrowing so that you can tackle your tuition bill successfully. If you still need money to pay your tuition bill, make sure to compare your student loan options.
- Act as soon as you receive your bill. Obtaining funding may take longer than you expect, so begin as soon as possible. You don't want to be unable to move in and start school at the beginning of the fall semester because you're waiting on loans to cover your tuition bill – start now.
- Run your numbers at least one more time. Make sure that you know exactly how much money you need and where you are getting it from. As always, do not borrow a cent more than is necessary. Consider your financial aid award as well as personal expenses when calculating these numbers.
- Borrow as much as you can through the Federal Direct Loan Program before taking out private student loans.
- Apply for private loans if federal loans aren’t enough. Be sure to compare loans across important factors like APR, monthly payment amount and total cost.
- Keep a record of all loans and lenders you apply to. Store your loan information, lender contact info, promissory note, and other information in a safe place.
Remember to shop around when looking for student loans, do your research and compare options!