What to Avoid When Shopping for a Student Loan
By Elizabeth Weiss Green
Posted 4/10/07
When shopping for loans, students always should research their options beyond the university's preferred-lenders list, according to the U.S. News Paying for College team. Other details students and their families should keep in mind:
- To lure customers in, lending companies have been disguising their solicitations as official government-issued letters, consumer advocates say.
- In the past, some private companies have capitalized on students' naiveté by offering financial advice for a fee–when students could get the same help free.
- Savvy students can even get interest-free loans to help them shoulder the burden.