Smart Borrowing

Financial Aid Options

Smart Borrowing - Classroom

Private student loans should be used to supplement other financial aid. You should always complete your Free Application for Federal Student Aid (FAFSA) found at www.fafsa.ed.gov and look into grants, scholarships, and Federal student loans first.

Visit www.smartborrowing.org for more tips and information about different ways to finance the cost of college.

The Cosigner Advantage

Most students, especially those without a credit history, may need a creditworthy cosigner on their loan. A creditworthy cosigner may improve your chance of approval and help you get a better rate. Most often, a cosigner is a parent, guardian or grandparent, but can be anyone you choose. Find out more.

Go To Rates & Repayment

Be a Smart Borrower

  • Use scholarships, federal student loans and grants first
  • Borrow what you need and only what you need
  • Choose the best repayment plan for you
  • Be wary of too much credit card debt
  • Stick to a budget and make payments on time

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This calculator only provides a basic estimate to help you budget for your education-related expenses. The results of these calculations do not guarantee available loan amounts, potential savings, tax benefits or other financial benefits. If you have any questions about your financial plans for college, you should contact your financial advisor or your school's financial aid office.

© 2012 The First Marblehead Corporation. All rights reserved. The lender for this program is SunTrust Bank. Custom Choice Loan is a federally registered service mark of SunTrust Bank and is used with the permission of SunTrust Bank.