Deciding how much to borrow
Follow these three rules when you decide you need to borrow money to
pay for education expenses:
- Only borrow student loans after you have applied for gift aid
(financial aid you don’t have to repay).
- Only borrow the amount you absolutely need to pay for your
education. If you think you need a certain amount to pay for your
education and the school indicates you are eligible for more,
don’t be tempted to accept the larger amount. If you determine you
need money later, you can ask your school about borrowing additional
funds.
- Don’t borrow more than you think you can afford to repay. Use
the calculator below to estimate this amount.
