What is the Annual Percentage Rate of a loan?
The Annual Percentage Rate (APR) of a loan is the cost of credit for one year.
APR is expressed as a percentage. For example, 4% or 7%.
What does the total amount of interest paid depend on?
Should I look for a grant before looking for a loan?
Yes. Always look for a student grant first.
Grants do not have to be repaid. They are available through the federal government and state agencies.
The Department of Education Student Aid on the Web is where you should start looking for money to pay for your college tuition.