financing your dream
Before You Sign
Once you compare features for different loans, you are ready to apply. When it comes time to sign the student loan contract, what should you do?
- Quickly sign everything, so the process can be promptly completed.
- Ask the lender to explain any items in the contract you don’t recognize.
- Ask your parent or guardian to co-sign the loan for added back up.
“B” is correct. Be sure you read and understand everything. It’s wise to discuss your loan application with your parents, but co-signing is a BIG step. If they do, they will be legally liable for any funding you can’t repay. Store all your loan documents together in a safe, secure place. Also keep a record for each of the loans you have. Include the amount you owe, lender contact information, and when the grace period will expire. This will help you prepare for the future.