Tag: Federal Student Loans

4 Facts about the Difference Between Federal and Private Student Loans

When you’re trying to finance your education, most students need to take out some kind of loan. This has been a necessary evil for years now, due to the fact that higher education has become expensive. It’s not impossible to go to college, though, as long as you’re careful about what kind of loan you take out. There are lots of instances where student loan companies will prey upon naive new college students, insisting that they sign on the dotted line in order to pay tuition. Never take this route. You should always explore all the options open to you, and understand what they entail. Here are four basic facts about the difference between federal and private student loans. Forbearance Forbearance is a courtesy extended to borrowers when you can’t pay your loan for a variety of reasons. The most common one is claiming financial hardship. Assuming the lender grants your request for forbearance, you […]