Determine if you need to get a student loan
If the combination of your military benefits, grants, scholarships, and work-study isn’t enough to pay for school, you may need to borrow money. But remember: after you leave school, you’ll have to repay your student loans, with interest, even if you didn’t graduate.
Instructions: Fill in the financing worksheet with your information. Or, download the spreadsheet and update it.
Education financing worksheet
|Income and expenses||Amount|
|Income while you are attending school|
|Military benefits, for example:
|Job or work-study|
|Financial help from relatives|
|Total monthly income||$0.00|
|Expenses while you are attending school|
|Room and board (if you live on campus)|
|Rent and utilities (if you live off campus)|
|Food and snacks|
|Books and supplies|
|Medical/dental/vision insurance and expenses|
|Personal (clothing, laundry, toiletries)|
|Total monthly expenses||$0.00|
|Income less expenses||$0.00|
Note: A student loan is a long-term commitment. Before you accept a loan, research its rates and fees, the length of the repayment period, and your rights and responsibilities as a borrower.
Click the Next button to explore how much debt you think you can repay.