There is a period in your life when you are bombarded with poofy white dresses and tuxedos. It's called your mid-20s. I'm there. I went to seven weddings this year, and a throng of my friends are getting engaged.
Weddings are fabulous (albeit right now they are getting a little tiresome). They are some of the best celebrations to attend. The declaration of love, nice dinner, and shakin' your groove thing—I'd go for some of that action anytime. But the party comes after much planning—unless you go to Vegas 
, that is!
Needless to say, I've thought a lot about the wedding hoopla this year. And I think students might be able to learn something from the meticulous planning of the bride and groom—well, mostly the bride :)
Loans and weddings, they're kind of alike. Yeah, yeah I know, but hear me out.
The road to both starts with an exciting event—an engagement and high school graduation. You celebrate for a little bit, but then the hard work starts. Just like the bride-to-be searches for the perfect cake, perfect dress, and perfect favors, the student-to-be should be searching for the perfect lender, perfect interest rate, and perfect repayment benefits.
Why, you ask? Because just like a wedding—and for that matter, a marriage—a loan is a big commitment. When you consider the 4-5 years in school and around 10 years to repay , that student is entering a long-term relationship with his or her loan.
Tell me: Are you searching around for the perfect butter-cream frosted loan, or are you choosing your loan Vegas style?
When you say Vegas Style, are you referring to loans issued through Federal Student Loans? I'm a new student and am just starting to learn all about the student loans. I've currently got two loans both are ford direct loans, one subsidised, one that is not. Are there better options out there?
Hey Matt –
By Vegas style, I meant picking your student loans on a whim (like most Las Vegas weddings), without researching to find the best deal for you. This mostly applies to private loans. These loans aren’t government guaranteed. They’re provided by banks or loan companies which means they vary in interest rate and the benefits you can receive are different.
The two loans you have are federal – the best kind of loan you can get as far as price is concerned. There are two differences between your loans. First, one accrues interest during school (unsubsidized) and the other’s in-school interest is paid by the government (subsidized). Second, subsidized loans are based on financial need, while unsubsidized are not.
Also, because your school participates in the Direct Lending Program, your lender is the federal government – not a bank or student loan company. The way your money gets to your school is a little different, but it’s basically the same kind of loan, with the same kind of limits as a Federal Stafford Loan offered through the Federal Family Education Loan Program.
Hope that helps you out. Thanks for asking questions! That’s the best thing to do as a student who is new to the process. Are you curious about any other student loan topics?