Be a Smart Consumer
Paying for help with applications: Are you thinking about paying someone to help you complete financial aid applications? Before you do, read our tip sheet to find out why this isn't necessary and how to protect yourself.
Scholarship search services: No one can guarantee to find you a scholarship for college. Some scholarship search services misrepresent their services, guaranteeing that they can obtain scholarships on behalf of students. Other fraudulent companies tell students they've been selected as "finalists" for awards that they can receive only after paying a fee; a legitimate financial aid offer doesn't cost money! For more information, contact the Federal Trade Commission.
Before you take out a student loan, think carefully, because you do have it repay it! Check out ways to cut costs and only borrow the minimum amount you need. You do not have to take the full amount of a student loan offered to you. Especially, be careful about borrowing during the first year, because if you decide to discontinue school you will still owe the debt. Be conscious of the total amount you will have borrowed by the time you graduate, and what the repayments are likely to be. It is best to keep your monthly payments to not more than 8% of your estimated gross income after graduation.
