Parents have already started calling for 2020 student loan advice. Recently the first thing that has come to mind is an article I read about student loans. The writer states that a family who needs to utilize a student loan(s), typically is the family’s best option. Not true in many cases. What he meant to say that a Federal subsidized loan should be considered first. Regarding unsubsidized Federal loans, it should be the family’s last resort. Why? Things have changed in recent years regarding private educational loans.
We advise our clients if they need to utilize a loan(s) to take the time to shop around at local community banks, credit unions, and even the large banks. Every year I am told by clients that they have secured a private loan at a better rate compared to a Federal loan. In addition, if a student needs a Federal loan(s), a Free Application for Federal Student Aid (FAFSA) must be submitted.
If you have any additional question about 2020 student loan advice/financial aid or would like to take our advantage of our complimentary consultation just contact us now!
