Did you know that students loans in our country are now more than one trillion dollars? That is more than the total credit card debt and car loans combined! Unbelievable! The Consumer Finance Protection Bureau (CPFB) recently published some tools they have developed to help students and their parents make smart choices.
The place to start is at this website: http://www.consumerfinance.gov/paying-for-college On this website you will find questions and answers to better help you make informed decisions about the various student loan products out there.
Should you opt for federal student loans, or go to a private source? Find out on this next website: http://www.consumerfinance.gov/paying-for-college/repay-student-debt/#Question-1
Choosing a loan that is right for you and your ability to repay it is crucial to your decision making process. On this website, you will go through three steps that can help you pick the right one for you. http://www.consumerfinance.gov/paying-for-college/choose-a-student-loan/#o1
So now you have the money, now what? How do you manage that loan successfully? Most of us never learned simple financial rules during our high school years, so how do we learn? This website will provide those answers. http://www.consumerfinance.gov/paying-for-college/manage-your-college-money/#o1
Keep the information on these websites. Soon, the CFPB will have a financial tool that will allow you to compare loan offers! Check back frequently to see when it is available.