Most students are not able to afford the heavy tuition costs due to low income and other financial factors. This can put students and parents into desperate situations thus making the wrong choices. For some, the lack of knowledge and desperation can lead to misjudgments when applying for a student loan.

Although looking for student loans can be time consuming and difficult task, it still requires that you enter into it with a certain amount of caution. To make this process easier I have listed a few tips to help you avoid making bad decisions and fall prey to some popular student loan gimmicks. However, there is really no need to panic, you will be able to find a legitimate student loan to pay for your education – just be careful!

1. Apply by Deadline Trap

Often times there may be a bold heading telling you to apply by this date or else…It is best to verify the deadline, because there may not be one and this is just a way to get you to apply right away before you have the time to research.

2. Telemarketing Calls

Unfortunately, telemarketing is everywhere and most of these offers can be tempting, but if it sounds too good to be true – it most definitely is, just politely say I am are not interested and hang up immediately.

3. Read the Fine Print

If you wear glasses make sure that you have them on when going over your application, especially the fine print. Most people tend to skim over the fine print thinking that it is not important, but I guarantee you the fine print is where all the most important details about your loan is hidden.

4. Consolidate Loans – NO FEES!

This is a very popular eye-catching heading used by loan sharks, preying on the weak and desperate. Verify the information and get all the important details before agreeing to the loan.

5. Look Alike Logos and Seals

Lenders will do just about anything to look legitimate and as the real deal. However, this is just another trick to make you think that you are dealing with a reputable institution instead of the loan company by imitating seals and logos of colleges and universities.

6. Mail With Flashy Headings

One-time offer student loans, or best loan in town, just discard any piece of mail that has flashy headlines.

7. Email : One-Time up-front Loan Fee

Delete any e-mail offering you student loans for a one-time up-front fee. This could be a virus or company trying to obtain your identity.

8. Mail from The U.S. Department of Education

The U.S. Department of Education is not in the business of soliciting consumers to borrow money and does not send advertisements or mailers.

9. Adjustable Rate Loan

At first these loans sounds good and in the beginning the interest on the loan is very low, however over time the interest increases.

10. Student Loan Brokers

Charging you to apply for loans, pell-grants, financial aid and other service that is normally a free service or that you can do on your own.

As always, do your homework, be cautious before signing on the dotted line and if it sounds too good to be true – you best believe it is!