Federal, fixed-rate loans may save you money compared to private, variable-rate loans. CNBC's Sharon Epperson explains:
CNBC's personal finance correspondent Sharon Epperson shares four tips about how students can get the best loan for college tuition, including seeking federal loans at a fixed rate.
TODAY Money expert Sharon Epperson joined us for a live Web chat Wednesday to answer your questions.
Here’s one of her answers to questions from the live chat. (See below for the full Q&A and Sharon's TV appearance this morning.)
One guest asked:
“How do you decide how much you can afford to invest in a college education?”
Sharon replied:
“Investing in your education is one of the best investments that you can make but you don't want to go into a boatload of debt to do it. Best rule of thumb: your total loan debt should be LESS THAN your starting salary when you complete your degree. Check out calculators at finaid.org to help you crunch the numbers.”
Here’s the full chat archive and Sharon's TV appearance:
If you have a question for our TODAY Money experts, submit it here.
To sign up for an e-mail reminder for our next chat, click here.
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