Aug 11 · 1 min read
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College can be expensive. We all know that. But exactly how expensive can it be? With most college degrees being funded through student loans, the simple answer is very .
While students and families tend to focus on the principal loan amounts, the interest on these loans is often what makes college so expensive. With federal student loan interest rates ranging between 4-7%, your student loans can quickly grow to an amount way higher than what you initially borrowed. Unfortunately, this is often not taught to be taken into consideration before accepting student loans.
If you’re like most students that need student loans to pursue higher education, you’ll want to make sure you don’t fall into the same trap. Let’s get whyze and uncover the true cost of student loans.