How to Borrow Student Loans Responsibly

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Subject: How to Borrow Student Loans Responsibly

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Lending an Ear

A weekly guide to financing college.

May 7, 2023

How to Have the "Money Talk" With Your Student

Most teenagers don't understand the impact that student loans will have on their financial future. To help, parents from our Paying for College 101 Facebook group shared ideas on how to get your student up to speed before they commit to borrowing. Read their advice!

The Importance of Recalculating Student Loans Each Semester

Student loan payments can sneak up on a student. Knowing how much they're borrowing every year and the monthly repayment amount that'll be due after graduation is critical to borrowing responsibly. Learn more here.

Questions about paying for college? We've got answers, including:

The many ways to pay
Types of financial aid applications
Cost of attendance (COA)
How to calculate what you should borrow
When to apply for private student loans

Download our FREE tip sheet below!

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Our Private Lenders Suggestions

(Variable APRs as of 5/5/2023)

Note: We recommend you borrow federal student loans first. Once you've exhausted your federal loan eligibility, carefully compare your options from private lenders.

➡️ Ascent (Cosigned) 6.16% - 15.49%*

➡️ SoFi 5.16% - 13.07%*

➡️ College Ave 4.99% - 15.32%*

➡️ Sallie Mae 5.87% - 16.20%*

➡️ Citizens (through Credible) 5.40% - 15.04%*

*Rates are based on automatic payment discounts of 0.25 percentage points.

We're Here to Help You!

📊 Download our FREE Student Loan Comparison Spreadsheet.

🐻 Use Mama Bear Legal Forms to make sure you can help your student in an emergency. Enter promo code Road2College & save 20%.

💰 Compare your student's college offers to what other student's have received with our FREE Compare College Offers tool.

🎓 Protect your college investment with GradGuard tuition insurance.

💻 Join our free PFC101 Facebook group and connect with other parents on the paying for college journey.

Lending an Ear

Q & A

Community Question: If we declined federal student loans the first year, can we still borrow them in future years?

Answer: Yes, you can always borrow federal student loans when you're enrolled in college at least part time. If you declined them the first year, make sure you still complete the FAFSA for the following year and let the financial aid office know you would like to use the federal loans.

Have a question of your own? Submit it here, then check back each week as we highlight the most pressing questions and share our advice.

Our R2C Content Team is dedicated to helping families navigate the

ever-changing world of college admissions and financing.

Lending an Ear is written & edited by Becca Blauch.

Disclaimer: The information provided in this email is for general informational purposes only. Road2College is not a financial advisor or planning service, and as such, cannot be held responsible for any direct or indirect circumstances. Please consult a licensed financial professional before making any financial decisions. Road2College may receive compensation from products and links featured in this email. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding.

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Subject: How to Borrow Student Loans Responsibly