M4 MONEY Borrowed: L3 STUDENT LOANS
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8 Terms
To fully understand your student loan, consult:
The financial advisor at your school.
It is important to fully understand what kind of loan you have and how you will be responsible for paying it back.
True.
Student loans are an investment in your future, and repaying them on time is crucial.
True.
It is important to have a plan:
Before your student loans become due.
If you miss payments on your loan, it will negatively impact your credit score.
True.
If you default on your student loan, the total amount you owe can:
Become immediately due.
It is important to contact your student loan provider as soon as possible if you are having financial hardship.
True.
The first step in planning to repay your student loans is gathering important information, including balances, interest rates, and repayment terms.
True.