Set Your Goals!
Loanscribe recommends selecting a loan based on your long term goals. Consider the other debts you might be taking on in the next 10 years such as an auto loan, or a mortgage. Did you know if you select a longer student loan term (smaller monthly payment), you may qualify for a larger mortgage amount.
Here’s a tip: Since Loanscribe doesn’t have any prepayment penalties, you can select a longer student loan term (15 or 20 year fixed) and make extra payments as if the loan was a 5 or 10 year fixed. This will help you keep your monthly obligations at a minimum and also qualify you for the maximum mortgage amounts in the future!