This is the time of year when college students and their families start signing loan papers. Lots of families take out loans to pay for at least a portion of college costs, but far too many don’t borrow wisely. I suspect that families are so relieved after surviving the college admission process that they often don’t pay nearly enough attention to selecting the best loans.
An excellent resource for borrowers is the nonprofit Project on Student Debt. If you are going to be taking out college loans this summer, visit this site first. If you do, you’re likely to save yourself a considerable amount of money and grief.
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