Columbia, SC (WLTX) - August means back to school for some and borrowing money for others. 48% of college students will be borrowing money to complete enrollment for this semester. If you plan on getting a federal or private loan, here are questions that will help you put some money back in your pocket and not your student loan payment:

  1. What's the interest rate and is it fixed or variable?
  2. Are there other fees?
  3. When do you have to start paying the loan back?
  4. Are flexible repayment plans offered if you experience financial hardship?
  5. Is the loan discharged in the case of death or disability?

What other questions do you ask? Tweet us or @knowmoneyinc