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Do you have someone in the family who’s planning to get or apply for a student loan? Or maybe know someone from friends or relatives who are interested? Have they asked you about how to apply for it? Student loans are mostly acquired by people whose budget is not enough for school or those who thinks that what they earn is not enough to finance their education.
Student loans have helped a lot of people finished their studies. Applying for a student loan is not that difficult if you have all the necessary requirements. Advised from financial experts will help a lot if it’s a first time. For more information on student loans check over here or you can learn some helpful tips on applying for a student loan from here:Taking Out Student Loans? Do It Right With These 8 Tips
Here are eight rules to help you reduce the burden:
1. Don’t take on debt that’s more than your expected first year’s salary.
Calculate your total debt for all years of school. To get a ballpark estimate, multiply your first-year loan by the number of years of your program — for instance, multiply by four if you’re earning a bachelor’s degree. That should get you to within 15% of your total loan debt. To find salary information, check out websites such as salary.com, payscale.com or glassdoor.com.
Ideally, your total debt should be a lot less than your expected starting salary so you can pay your debt in 10 Read more...