# personal finance

If Bridgette marrow is a sophomore at state college ad is running out of money. wanting to continue her education, Bridget is considering a student loan. Explain her options. How can she best minimize her borrowing costs and maximize her flexibility?

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1. Get a job.

Many college students around this country have part-time (and a few have full-time) jobs to put themselves through school. Do they also have loans? Sometimes.

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2. PS ... Federal loans (via the FAFSA form) are the ones with the lowest interest rates usually, but there are also student loans and parent loans through many/all banks in the country. There are many differences among these types of loans, though, and all those differences need to be checked out.

What are the interest rates on each type of loan?
When does the student need to start paying back the loans?
When do the parents need to start paying back the loans?

LOTS of research needs to be done.

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