Some required reading before you borrow

Written by
Sabina Haskell

Date
November 2, 2016

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My Education Loans

Thinking about taking out a loan to pay for your studies? You’re not alone: Nearly seven out of 10 Vermont students will take some loans to finance their education expenses. Knowing how to compare loans and costs is essential to making college more affordable.

Get some loan smarts with VSAC’s “My Education Loans,” a concise, no-nonsense handbook that walks you through the financial aid process and how to avoid taking on too much debt.

No one should have to face college loans on their own. This guide is written with Vermonters in mind and with input from financial aid administrators at Vermont universities and colleges; it’s ‘required reading’ if you plan to borrow.

Beginning with understanding financial aid awards, VSAC’s guidebook shows you how to apply for grants and scholarships, compare college costs and how to navigate the complex variety of available loans and repayment plans.

For most families, loans are an important part of their investment in education and training.  Among the topics covered in the guide:

  • Who gets financial aid
  • Minimizing how much to borrow
  • Which loans to accept and which loans to “shop”
  • How repayment works
  • What is “loan forgiveness”
  • Personalized loan counseling with an Advantage Loan Coach at VSAC

Before you take loans, it’s important to know how much debt you can afford. This guide helps Vermonters be better informed and prepared to make the right college financing choices that best suit your personal situation and needs.

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