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There is a lot of information out there regarding student loans. If you’re considering getting a loan to help cover the cost of your education, keep reading to learn about your options:

We encourage students to explore federal and state loans before considering private loans. While every student’s situation will be different, government loans typically have the following advantages:

• Interest rate on federal loans is fixed and usually lower than that on private loans
• Most federal loans don’t require a credit check or a cosigner
• They provide a range of flexible payment options and loan forgiveness benefits

To learn more about federal student loans, please visit .

Interest and repayment terms vary depending on which lending institution you choose. It’s always a good idea to research and compare different offers before borrowing. Here are a few questions you should ask while considering private student loans:

• Do you meet credit score requirements or do you have a cosigner that does?
• Does the lending institution require that you are a U.S. citizen, national, or permanent resident? If you’re an international student, are you eligible with a cosigner who is a U.S. citizen, national or permanent resident?
• What is the interest rate of the loan?
• When does repayment go into effect and what are the terms?
• If your parents are considering getting a loan to help you, does the lender offer parent loans?

A list of lenders previously used by WCU students can be found online at .

¹ú²úÖ÷²¥ does not make any recommendations regarding private loan lenders. Students may borrow from any lender. Be sure to research and review each lender’s terms and conditions before making a final decision.

Here are some final things to keep in mind regardless of whether you have a government or private student loan:

• Don’t borrow more than you need. This is the #1 tip that will help keep interest and payments manageable.
• Avoid using credit cards. These typically are an expensive way to finance your education because they have higher interest rates.
• Get more information about government and private student loans on .