:: What's the Best Way to Pay? ::
When paying for school, it's best to go for free money first. 
The first step is to submit the Free Application for Federal Student Aid (FAFSA). It's the place to start when looking for financial aid for school. For more information about what you'll need to file a FAFSA, check out our resources.
Next, apply for scholarships and use any available family savings before taking out a student loan. Check out the scholarship resources at UCanGo2.org and OKcollegestart.org to help you search.
If you must borrow to pay for school, exhaust all federal loan options before considering private, sometimes called alternative loans, which can have higher interest rates and fewer flexible repayment options. Also, try to avoid using credit cards to pay for school-related expenses.
Monitor your financial aid needs each semester and adjust your borrowing accordingly. Continue to apply for grants and scholarships each semester, and consider working a part-time or work-study position during school to help decrease your need to borrow.
When making borrowing decisions, always keep your future earning potential in mind. You can access state wage data at the Oklahoma Wage Network to get a clear picture. A good rule of thumb is to borrow no more than the annual salary you expect to earn during your first year after graduation. Borrowing beyond this limit may make it challenging to repay your loans in a timely manner. Use the Mapping Your Future Debt/Salary Wizard to stay on top of your borrowing.
Download our Borrow Smart from the Start PDF brochure for more information about making better-informed borrowing decisions. This resource is also available in Spanish.
:: Additional Resources ::
- UCanGo2 Scholarship Search
- Federal Student Aid
- Interest Capitalization Poster: Save Thousands on Your Unsubsidized Loans PDF
