Complete the FAFSA and review grants, scholarships, savings, school aid, and eligible federal loans before using private credit.
Use several earnings scenarios
College Scorecard earnings measures describe historical cohorts, not a promise for one graduate. Occupation, program, geography, completion, economic conditions, further education, and personal circumstances can change earnings. Model a conservative case, a middle case, and a stronger case.
Start with take-home resources
Gross income is not available for loan payments. Build a budget for taxes, housing, food, transportation, insurance, health costs, and existing debts. Then test the payment with room for emergencies and savings.
Include all borrowing
Combine federal loans, private loans, parent-supported obligations the student is expected to repay, and other debts. A single private-loan payment can look manageable while the total monthly obligation is not.
Stress completion risk
Borrowing is most dangerous when the credential is not completed. Review the school’s completion data and ask about credit transfer, satisfactory academic progress, program continuation, and the cost of an additional term.
Use the result to change the plan
If the payment consumes too much of the likely budget, reduce the gap rather than assuming future refinancing. Compare a lower-cost school, stronger aid offer, transfer plan, different housing choice, additional savings time, or an employer-supported program.
Primary sources
Sources were checked during the September 11, 2026 review. Provider terms and federal rules can change.
Next decision
Use a calculator to test the amount and full cost, then compare public lender features. Final eligibility, rate, and loan terms come only from the authorized provider.