IGrad

SMART BORROWING

1.   I took the course: Smart Borrowing on iGrad. The course introduced to me about how to borrowing smartly money from federal aid. You should borrow only enough money to use for school expense and start paying for repayment while attending university. It will help you to have small amount in borrowing money and forming you a good habit in paying interest. You should check NSLDS page for knowing how much money you borrowed. You should know that your debt would be default after stop paying in 270 days. It will affect you in borrowing money to return school or for a car and a house. There are plenty of option to have you pay for your student loan. This is not recommend for changing your student loan become consolidation. If you feel exhausted in paying your student loan then you can apply for deferment or forbearance. Good news! You student loans are disbursed after July 2010.

FINANCIAL FUNDAMENTAL

2.   From the course Freshman Financial Fundamental on iGrad, I learn more about smart borrowing money while you attend university. First, you just only borrow money that need to pay for tuition and supplies expense. Second, you should work and pay your living expense. You also should pay for your repayment interest to get easy debt after graduating. Third, you should contact your servicer to remake you repayment plan if your salary is not enough to pay for student loan. They can offer you monthly plan which is mush easier to you. You should not let your debt come to default. It can affect you to other loan. The default will stay on your credit history 7 years even you fully pay for it. It can affect to your chance for having a job. The best thing to do is contacting with your servicer. He/she will set a good plan for you and a website that you can check your loan anytime and keep track on it.