Student Loans Pro: Make up for savings shortfalls Con: You have to pay them b…

Student Loans Pro: Make up for savings shortfalls Con: You have to pay them back Saving for college ahead of time is, of course, preferable to taking on considerable debt. But if you must borrow, borrow smart. Go with government-sponsored loans, such as Staffords (also called Federal Direct), which offer flexible repayment options and fixed interest rates. Stafford loans are subsidized (meaning you don’t owe any interest on the loans while you’re still in school) for qualifying students.

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