What is the Difference between Getting a Federal Student Loan and a Private Student Loan?
by:
Michael SaundersAttending 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
Alaska Native-Serving and Native Hawaiian-Seving Institutions Education Competitive Grants ProgramThe National Institute of Food and Agriculture has recently constituted the Alaska Native-Serving and Native Hawaiian-Seving Institutions Education Competitive Grants Program wherein it intends to award funds in an attempt to support education, applied research, and several other related community development programs.
Early-Grade Reading Improvement Interventions ProgramIn line with this mission, the USAID has developed the Early-Grade Reading Improvement Interventions Program wherein they seek to solicit interventions that would improve the reading achievements in the early grades in Latin America and in the Caribbean region.
The Role of Private Enterprise in Putting Man into SpaceHas NASA, the monolithic space agency, failed in it's quest to put man out into the cosmos? Will profit coupled with man's need to explore be the driving engine which sends man into the cosmos? Think...
Computing Education Grants Program for the 21st CenturyThe National Science Foundation has recently established the Computing Education Grants Program for the 21st Century (CE21), wherein the agency primarily aims to create a robust computing research community, as well as a computationally competent 21st century workforce, and ultimately, a computationally empowered citizenry.