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6 smart ways to pay for college

The FAFSA is currently available for the 2025-26 academic year, and applicants have until June 30, 2025, to file for the 2024-25 academic year.
Millions of Americans rely on federal loans obtained through FAFSA because these loans require no credit history and offer repayment benefits.
Dependent undergraduates can borrow up to $31,000, while independent students may borrow up to $57,500 in federal student loans with a current fixed interest rate of 5.50%.
After finishing school or dropping below half-time enrollment, borrowers typically receive a six-month window before loan repayment begins; it is advised that monthly payments remain below 10% of anticipated after-tax income—for instance, about $279 per month on a $26,000 loan with a 5.50% interest rate spread over 10 years.
Students are encouraged to pursue scholarships, grants, and federal loans before considering private loans, as federal loans offer income-driven repayment and forgiveness programs private loans do not provide.

Insights by Ground AI

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