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.
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What is the Difference between Getting a Federal Student Loan and a Private Student Loan?
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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.
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Additional Resources
category - Education Grants
Museum Grants for African American History and Culture ProgramThe Institute of Museum and Library Services has established a funding opportunity to support the Museum Grants for African American History and Culture Program wherein they intend to provide the African American museum staff with added knowledge and ability in all the areas of management, operations, programming, collections care, and other museum skills.
Tribal Colleges Research Grants ProgramIn keeping with this mission, the National Institutes of Food and Agriculture has recently established the Tribal Colleges Research Grants Program in an attempt to conduct agricultural research studies that address high priority concerns of tribal, national, or multistate significance.
Education Grants for Students Interested in Teaching CareersTeacher Education Assistance for College and Higher Education Grants (TEACH Grants) assist those undergraduate and graduate postsecondary students that agree to teach specific and specific subjects that are in high need at schools that primarily serve disadvantaged populations.
7 Steps Towards Choosing The Perfect CollegeIn 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.