Final answer:
To avoid high loan fees, consider borrowing from a credit union, which often has lower fees than commercial banks or savings and loan associations. Remember that your credit score and responsible borrowing play critical roles in the terms of any loan.
Step-by-step explanation:
To avoid high fees for cash loans, a person should be cautious about where they borrow money. Traditional commercial banks and savings and loan associations typically offer a range of loan products. However, to avoid high fees, one might consider a credit union, as they often have lower fees and better rates due to their non-profit status.
Credit unions are known for serving their members with more favorable loan terms compared to commercial lenders. Regardless of the type of financial institution, it is essential for individuals to understand their own financial capabilities and implication of taking a loan, including the importance of a good credit score, responsible borrowing, and the potential economic benefits that might come from such decisions like owning one's own home.