 Comparing always pays Shopping for student loans is like getting stuck with an obnoxious roommate: it's never fun and it's kind of annoying that you were saddled with the burden in the first place. But if you can't cover the cost of college without borrowing, cut costs and save more money by finding the best loan for you.
So compare your private student loan options. Our loan comparison tool makes it fast, easy, and free. But keep reading for even more ways to stay smart while shopping: - Only borrow as much as you need. The biggest mistake students make is borrowing more money than they need, which makes paying back your debt later harder than it needs to be. Just remember: staying frugal is staying smart, so don't borrow more money just so you can afford a winter vacation.
- Interest rate isn't the only thing that matters. Borrower benefits have a huge effect on the total cost of your loan, so factor them into the equation. Do you get a grace period, and if so, how long is it? Are there rate reductions for automatic or on-time payments? Do you get a principle reduction on graduation? Always know the answers to these questions before you borrow. This is one of the times in life you really do want to read the fine print.
- Remember that you may not qualify for the "as low as" rate. It's a good idea, then, to apply for more than one loan, including ones that don't have the lowest teaser rates. You aren't guaranteed the lowest rate even if you have a credit-worthy cosigner, so don't assume just because the teaser rate is the lowest that your actual rate will be.
Above all, always remember to compare your private student loan options because a few clicks could save you thousands. | 
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