When you need to borrow money for school, BorrowSmart.
Choosing the right way to pay tuition is just as important as choosing the right school. BorrowSmart® encourages families to look into all your options and select the best choice for you and your budget. In other words, don't just borrow — borrow smart.
The first step in smart borrowing is exploring the options that reduce unnecessary debt, such as:
- Grants
- Scholarships
- Monthly payment plans
If you need additional funding, the next step is to consider:
- Federal loans, that provide lower interest costs
- Private loans,* to bridge the gap between the cost
of education and traditional financial aid
* Private loans are subject to credit approval.