9 Best Steps to Get Student Loans in 2025: Save on College Costs

College is a major investment, with average tuition at public four-year schools hitting $11,600 annually in 2025, per the College Board, often outpacing family incomes. While scholarships and grants help, many students borrow, with half of graduates owing $29,300 on average. The best steps to get student loans can save thousands by prioritizing federal aid and borrowing responsibly. This beginner-friendly guide outlines the 9 best steps to get student loans for students in Ghana, the US, Canada, and the UK, helping you navigate costs, avoid debt pitfalls, and leverage high-CPC education finance ads for site revenue.

Why Student Loans Matter in 2025

Student loans are “good debt” when managed well, as a bachelor’s degree boosts earnings by 66% over high school graduates, per the U.S. Bureau of Labor Statistics. But with tuition rising faster than inflation, borrowing is common. Federal loans offer low rates (6.39% for undergrads) and protections, while private loans (3–17% APR) fill gaps but lack forgiveness options. Whether you’re in Ghana studying abroad or in the US, Canada, or UK covering local costs, the best steps to get student loans ensure affordability and long-term savings.

9 Best Steps to Get Student Loans in 2025

Here are nine actionable steps to secure student loans responsibly, with tips for Ghana, US, Canada, and UK students.

1. Calculate Your Total College Costs

• Why It Saves: Knowing exact needs prevents overborrowing, saving $1,000s in interest.
• How to Do It: Use net price calculators on school websites or College Board to estimate tuition, housing, meals, and books after grants.
• Example: A US student saves $5,000 by borrowing $15,000 instead of $20,000.
• Tip: In Ghana, include visa and travel costs for international programs.
• Best for: All regions to avoid excess debt.
• Resource: Check SmartMoneyMint’s budgeting guide.

2. Fill Out the FAFSA or Equivalent Aid Form

• Why It Saves: Unlocks free grants and low-rate federal loans (6.39% APR), saving $2,000+ vs. private loans.
• How to Do It: Submit the FAFSA at Studentaid.gov with family financials; UK/Canada use local forms like Student Finance or OSAP.
• Example: A Canadian student covers $8,000 with federal loans, avoiding private borrowing.
• Tip: In the UK, apply early for Student Finance to max grants.
• Best for: All regions for free aid.

3. Max Out Federal Loans Before Private

• Why It Saves: Federal loans have fixed rates and forgiveness options, saving $3,000+ vs. private loans’ variable rates.
• How to Do It: Accept subsidized loans first (government pays interest in school), then unsubsidized.
• Example: A US undergrad borrows $5,500–$12,500/year in federal loans at 6.39% APR.
• Tip: In Canada, prioritize unsubsidized loans for grad school.
• Best for: US/Canada for protections.

4. Secure a Cosigner for Private Loans

• Why It Saves: A cosigner with 700+ credit lowers rates by 1–2%, saving $1,500 on a $20,000 loan.
• How to Do It: Ask a parent or friend with strong credit to cosign; over 90% of private loans require one.
• Example: A UK student cuts rates from 10% to 8%, saving £1,200.
• Tip: In Ghana, ensure cosigners understand shared liability.
• Best for: All regions for better rates.

5. Compare Private Lenders Thoroughly

• Why It Saves: Shopping saves 1–3% on APR, or $2,000–$6,000 on a $30,000 loan.
• How to Do It: Use Credible or LendKey for pre-qualification without credit impact.
• Example: A Canadian student saves C$3,000 by choosing a 7% APR over 10%.
• Tip: In the UK, compare via MoneySuperMarket for best deals.
• Best for: All regions for competitive rates.

6. Understand Interest and Fees

• Why It Saves: Fixed rates (3–17%) prevent surprises, saving $1,000s vs. variable rates that rise.
• How to Do It: Compare APRs (includes fees) not just interest; private loans accrue interest immediately.
• Example: A US student saves $800 by choosing a 5% fixed rate over variable.
• Tip: In Ghana, prioritize lenders with no origination fees (1–5%).
• Best for: All regions for cost control.

7. Ask About Repayment Terms and Benefits

• Why It Saves: Lenders with grace periods or autopay discounts (0.25%) save $500+ over loan life.
• How to Do It: Inquire about forbearance, cosigner release, and perks via Sallie Mae or College Ave.
• Example: A UK student saves £600 with a 0.25% discount on a £20,000 loan.
• Tip: In Canada, seek lenders with hardship options.
• Best for: All regions for flexible terms.

8. Create a Repayment Plan

• Why It Saves: Keeping loans under your expected salary saves $1,000s monthly; aim for payments <10% of income.
• How to Do It: Use a calculator on Bankrate to estimate payments based on term and APR.
• Example: A Ghanaian student borrows GHS 50,000, keeping payments under GHS 500/month.
• Tip: In the US, use income-driven repayment for federal loans first.
• Best for: All regions for affordability.

9. Gather Documents and Apply Early

• Why It Saves: Prepared applications speed up funding, avoiding $100+ late tuition fees.
• How to Do It: Collect ID, school costs, income proof, and cosigner info; apply via lender sites.
• Example: A Canadian student avoids a C$150 fee with timely submission.
• Tip: In the UK, use UCAS for aid timelines.
• Best for: All regions for smooth processing.

Tools to Boost Your Success

• NerdWallet: Compare private loan rates.
• Credit Karma: Check your and cosigner’s credit.
• YNAB: Budget for repayments.
• ChatGPT: Plan loan strategies via x.ai.

Common Mistakes to Avoid

• Overborrowing: Limit to needs to save $1,000s in interest.
• Skipping Federal Aid: Max FAFSA to avoid high private rates.
• Ignoring Cosigner Risks: Discuss liability to protect relationships.
• Not Comparing: Shop lenders to save 1–2% APR.

Tips for Success in Ghana, US, Canada, and UK

• Ghana: Use Edvoy for cost estimates; seek cosigners with stable income.
• US/Canada: Max FAFSA/OSAP; compare via Credible.
• UK: Apply for Student Finance early; use MoneySuperMarket for loans.
• All Regions: Pay interest in-school and use calculators to plan.

Why the Best Steps to Get Student Loans Work in 2025

With tuition outpacing incomes, the best steps to get student loans save $1,000s by prioritizing federal aid and managing private borrowing. High-CPC education ads boost site revenue, while these steps help students in Ghana, US, Canada, and UK afford college responsibly.

Conclusion

The 9 best steps to get student loans in 2025—calculating costs, maxing federal aid, securing cosigners, and more—empower Ghana, US, Canada, and UK students to borrow smartly. Start with FAFSA, compare via Credible, and manage with YNAB. Check SmartMoneyMint’s student loan guide to fund your education affordably!

DISCLAIMER: Loan rates (3–17% APR) and terms vary by lender and credit. Federal loans offer better protections; confirm rates before borrowing. Rates as of August 2025, subject to change.