No one wants to go into debt, but student loans are needed for most people if they want to go to college. Unfortunately, lots of borrowers take out loans without really knowing the facts. Read on and learn more about student loans, how they can help you and what you should be aware of.
Make sure you keep track of your loans. You should know who the lender is, what the balance is, and what its repayment options are. If you are missing this information, you can contact your lender or check the NSLDL website. If you have private loans that lack records, contact your school.
If you are having a hard time paying back your student loans, call your lender and let them know this. There are normally several circumstances that will allow you to qualify for an extension and/or a payment plan. You will have to furnish proof of this financial hardship, so be prepared. Continue reading