Thinking about attending college? Here’s what you should know about student loans

Before you accept your student loan offer, regardless if it’s federal or private, you want to make sure you understand the details, said Betsy Mayotte, president of The Institute of Student Loan Advisors. Those include when interest accrues, if interest is capitalized and if there are any late fees.

If reading the details on your own feels daunting, Mayotte recommends speaking with a financial aid counselor, either at your university or elsewhere.

If you meet with a counselor, it’s good practice to come with prepared questions about repayment programs for when you need to start paying back your loan.