What is the Difference between Getting a Federal Student Loan and a Private Student Loan?

by: Michael Saunders
Attending college is a milestone, but can also be extremely expensive. With some options already in mind, you may want to look at the student loan alternatives that are available to a college undergraduate. Student loans can be very tricky, and are very confusing to most. In many situations, families are accepted for all different kind of loans and then are left in the dark when it is time to pay it back or fail to realize that they owe as much due to accrued interest.

With high interest rates and very unforgiving payment plans, it is best to know what options are available to you prior to being seduced by college lenders with promises of fast money.

You may already be somewhat familiar with the terms ‘Federal Student Loan’ and 'Private Student Loan'; these are the two most popular type student loans being used today. Do not let the terms deceive you, as they do not sound very different, they come with very different stipulations and payment approaches when it comes time to pay the money back. A student loan is anything that is aided to the student or their family from the government or school the student plans to attend. These loans the student will pay back with interest at a later date.
  (continued...)

What is the Difference between Getting a Federal Student Loan and a Private Student Loan?
  Page 2

About The Author The author edits a site featuring Grants for Education and another Government Grants site providing info on every grant the federal government offers. Michael Saunders has an MBA from the Stanford Graduate School of Business.

Additional Resources

category - Education Grants

National Institutes of Health: Expanding the Encyclopedia of DNA Elements in Human and Model Organisms
The National Institutes of Health, in cooperation with the National Human Genome Research Institute, has established a funding opportunity to support the Expanding the Encyclopedia of DNA Elements in Human and Model Organisms project.

---

Family Planning Services Grants
OPHS has recently established a funding opportunity entitled Family Planning Services Grants, a program wherein the OPHS, along with the HHS, will award grants to eligible individuals who seek to operate voluntary family planning services projects that would provide family planning services to everyone who desires to avail of such services, including low-income families in under-served areas.

---

National Science Foundation announces the Cyberlearning: Transforming Education Program
The Cyberlearning: Transforming Education is a program wherein the NSF will provide funding for research proposals that aim to explore opportunities associated with the promotion and assessment of learning techniques through the help of new technologies, taking advantage of the application of those technologies, and the utilization of those technologies in the process of promoting deep and lasting learning of content, practices, skills, attitudes, and dispositions that are essential in becoming an engaged and productive citizen.

---

7 Steps Towards Choosing The Perfect College
In most instances, the problem doesn't stop with finances. Students often find it hard to choose the right school for them, pick the course that best suit their needs and abilities.

---