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
Peer Reviewed Cancer Career Development Award ProgramIn keeping with this mission, the Department of the Army has established the Peer Reviewed Cancer Career Development Award Program in an attempt to stimulate the next generation of cancer research studies by providing new and early career investigator opportunities that would lead to innovative, cutting-edge research developments for the prevention, early detection, and treatment of cancer.
American Schools and Hospitals Abroad ProgramMuch of the international aid provided by the United States government goes to support education and healthcare efforts around the world. Many of these programs are design to encourage the spread of American values to other countries.
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.
Scalable Nanomanufacturing Grants ProgramThe National Science Foundation has announced the constitution of the Scalable Nanomanufacturing Grants Program wherein it intends to deepen and encourage research and education in the area of scalable nanomanufacturing, including the long-term societal implications of the largescale implementation of nanomanufacturing innovations.