Question: Should I borrow extra money and live up the college life?
Answer: Over time, interest accumulates and by the time you get your degree you will be paying back much more than you originally borrowed. Make sure that you figure out what the total cost of borrowing is before you sign on the dotted line.
You should also honestly evaluate the repayment schedule and determine whether or not you will be able to comply with this schedule after graduation. If you think you will have a problem, you may want to borrow less and budget more while you are in school.
Here are two resources to help you determine how much you need:
You should also honestly evaluate the repayment schedule and determine whether or not you will be able to comply with this schedule after graduation. If you think you will have a problem, you may want to borrow less and budget more while you are in school.
Here are two resources to help you determine how much you need:
