A Few Steps to Determine How Much to Borrow
Posted on June 23, 2014 by Lori Wischmann
If you need to utilize federal student aid to help make your dreams of a beautiful career a reality, there are a few things that you should know!
Borrowing responsibly is an important cornerstone toward helping you go from beauty school student to beauty professional.
To help you understand the importance of lending amounts and deciding for yourself how much aid you will need to utilize, we have compiled five tips toward responsible lending.
Of course, if you are still confused or if you would like to talk to our offices about you options, we invite you to schedule a visit! We would love the chance to sit down with you and to help you understand all that awaits you.
1. Estimate your full cost of college: Figuring out what college will cost is not often a quick calculation—but it’s a crucial step toward borrowing the correct amount of loan debt for you.
2. Take only what you need: Student loans aren’t free money. You’ll pay back what you take and then some, after interest is accounted for—so make sure to be frugal when possible.
3. Research your earning potential: For a student loan burden to be manageable, the total amount you owe should be less than your starting salary after graduation.
4. Think long term: It can be challenging to think about bills that won’t come for years, but it’s critical to consider the month-to-month implications of what you borrow.
5. Keep a healthy mindset about debt: We’ve been given the impression that borrowing at all is dangerous when it comes to college. But a reasonable amount of student debt can be one of the best investments a student will ever make.
Looking for more info about financial aid? Schedule your meet and greet today!
At Xenon Academy, we are dedicated to the success of all of our students. From the day you apply, to the day you give your last flawless asymmetrical bob. We are here for you!
Financial aid is available to those who qualify.