Be Informed When Paying for College

You already know that paying for college is one of the biggest financial decisions a family makes when tuition bills arrive for families. This year, we're expanding our resources to help you understand every option on the table before you write that first check.

Consider the following:

• For most families, financial aid and savings only cover part of the cost of college. When there's still a gap, private student loans are one of the most common ways families bridge it.

• Not all private loans are the same - rates, repayment terms, and co-signer requirements vary significantly, so it's worth comparing more than one option before applying.

• If you're planning to use a federal Parent PLUS Loan to help cover this year's tuition, there are a few updates worth knowing before you apply. Rates, origination fees, and repayment terms can shift year to year - and there's no borrowing limit beyond the total cost of attendance, so it's easy to borrow more than necessary.

• That's why many parents compare a Parent PLUS Loan against private student loan options before deciding - depending on your credit profile, a private loan may offer a lower rate or more flexible terms.

• Not all private loans are the same - rates, repayment terms, and co-signer requirements vary significantly, so it's worth comparing more than one option before applying.