Consider opportunity cost when taking long-term loans

Evaluate loan types based on the asset you’re financing

Watch for teaser rates that jump after a few months

Business loans should be backed by a growth plan

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Ask lenders about forgiveness or deferral options

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Structure payments around your income variability

Scotiabank Personal Line of Credit for Students: What You Need to Know

Use personal loans as a bridge—not a budget

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Maintain documentation for your loan agreements

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Avoid stacking multiple loans at once

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Apply for credit responsibly to avoid future denials

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Don’t ignore penalties for early loan closure

Make extra payments when possible to save on interest

Read all terms carefully before accepting funds

Choose lenders with transparency in communication