<p>The terms, if I recall, were an interest rate of 2% paid over something like 25 years. Camelia asked all of us here if she should take out this loan, and even loan-phobic parents encouraged her to.</p>
<p>Camelia -- don't get a job! If you need spending money, this is where your parents can help. Concentrate on schoolwork, at least the first year. If I were your parents, I would encourage you to buy books on my credit card, and provide a small monthly allowance.</p>
<p>If your parents are willing and interested in paying more, then ask if they could help with loan payments once you graduate.</p>
<p>And I agree with Xiggi that parents should help pay for college if they can.</p>