Money management matters when it comes to financing an education. Most students get some form of financial assistance such. A few students even get a “free ride,” where all their costs are paid for. These are known as grants and scholarships. Whether you go to an Ivy League university, community college or vocational school, financial aid is available in many forms.
Managing your money involves more than just making a budget. Be on the lookout for things that may harm your financial well-being.
Beware of the following bad deals and scams. Here’s how to avoid them:
You should never have to pay for this information. You can get free information from the following:
Avoid scams by protecting your identity as you go through the financial aid process.
To reduce risk:
Report fraud and identity theft. If you suspect that your student information has been stolen, contact one of these resources immediately:
Private loans can be useful, but watch out for bad deals. Interest rates and repayment terms can be higher than government loans. Use all federal student loan options first. Investigate the private loan organization, check with the Better Business Bureau, get references and read the fine print.