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Do most student loans have to start being paid when you are still in college?

College is expensive and I am wondering if I should take out student loans or not. If I have to start paying it off right away and not after college, then I do not want to get them because I do not have a lot of money as of now. #college

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Donnell’s Answer

Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. You will not have to start repaying your federal student loans until you graduate, leave school, or change your enrollment status to less than half-time. If you have trouble repaying your loan, you may be able to temporarily postpone or lower your payments. You may be eligible to have some portion of your loans forgiven if you work in public service.
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Divina’s Answer

Hi! Before considering loans, I would apply for financial aid and scholarships. I was in the same boat for college and this was the route I took. I recommend going to some scholarship websites and seeing if you fit the criteria to apply. A lot of them just want you to write an essay and fill out an application. For financial aid, I would apply for the fafsa. It's a free application for government aid. They can also help you find loans if the aid and scholarships aren't enough. Loans are typically paid off after college but it really depends on the terms of the loan. I only took loans through fafsa and I never made any payments on mine during college. Hope this helps!
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