ONLY BORROW WHAT IS NEEDED FOR NECESSARY EXPENSES! Many students think they should borrow the entire amount that is offered to them. We encourage you to plan to graduate with as little debt as possible. Use our interactive Student Loan Planning Guide to help you minimize borrowing.
Another great resource to help you determine a reasonable amount of student loan debt considering your future career is the Student Loan Adviser Calculator. Experts recommend students plan for after-college debt payments to be no more than 10-15% of their monthly income.
Keep track of how much has been borrowed at nslds.ed.gov. Tracking amounts can help students plan for repayment. Familiarize yourself with repayment plans & forgiveness programs at studentaid.ed.gov.
Be careful with student loan refunds. If you borrow more than you are billed from UNL, you will receive your extra funds in the account that is set-up in MyRed. Save your refund in a savings account and only transfer the funds to checking when bills are due.
If you have unsubsidized loans, which accrue interest during school, interest payments can be made at: myedaccount.com.
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