Goal Setting Quiz Links Opinion Poll The majority of today's college students who receive some type of financial assistance receive it in the form of a student loan. Unfortunately, not all students understand the ramifications of financing a college education with the assistance of student loans. Student loans are a type of student aid which must be repaid. There are very few ways to avoid repaying this type of debt. It cannot be forgiven in bankruptcy proceedings. And, it does appear on credit history reports. For these reasons, student loans should be accepted with serious consideration to the ability to afford to repay the accumulated debt after graduation. A knowledgeable consumer will investigate fully all alternatives to borrowing money for college before accepting a loan. When you have to utilize a student loan to finance your college education, it is best to research each lender and their policies regarding student loans. Some lending institutions routinely sell student loan accounts to other account administrators. Others will permit you to consolidate several years worth of loans into one so that you only have one payment. As students become more savvy student loan consumers, the competition for student loan customers among financial institutions has increased. With this healthy competition, it pays to shop around for the best interest rates and repayment agreements. It also pays to know all the terms of your account and to manage your loans wisely.

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