As the name suggests Federal Student Loans are funded and/or guaranteed or insured by the federal government.
They offer loans for Students and Parents.
Most of the loans come from two programs: Direct Loans Program and
Federal Family Education Loans (FFEL) Program.
The most important student loan is the one with lowest interest rate.
Student Loans Quick Link List:
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Federal Stafford Loan(Sub) Federal Parent PLUS Loan Federal Stafford Loan(UnSub) Federal Perkins Loan Private Student Loan
Federal Stafford Loan (Sub)
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Federal Student Loans Overview
FFELs are guaranteed loans made by private lenders. Direct Federal Loans are made directly by the federal government to college students.
Both of the programs offer Loans For Students and Loans For Parents.
In those programs students can find Student Loans for Undergraduate Students and
the Direct Loans Program offers lending solution for the Graduate students.
This is a low interest loan provided by the federal government. A Federal Stafford Loan - Subsidized is a student loan
offered to eligible students enrolled in accredited American institutions of higher education to help finance their education.
This is a low interest loan provided by the federal government. A Federal Stafford Loans - UnSubsidized is a student loan
offered to eligible students enrolled in accredited American institutions of higher education to help finance their education.
These loans are for undergraduate, graduate and professional students enrolled for at least half-time. Both Federal Direct Loans Program and
Federal Family Education Loans (FFEL) Program support Federal Parent PLUS Loans.
A Federal Perkins Loans is a student loan offered to eligible students enrolled in accredited American institutions of
higher education to help finance their education. Offered to students who demonstrate financial need.
Federal Perkins Loans are for undergraduate, graduate and professional students enrolled for at least half-time.
Federal Direct Loans Program and Federal Family Education Loans (FFEL) Program
support Perkins Loans. Under this program the school distributes the money.
Other Federal Student Loans are also available. Disadvantaged students have an option to take out
Loans For Disadvantaged Students known as LDS.
Obama Student Loans is a new concept in the real of student loans. The healthcare reform brought many changes when it comes
to Federal Student Loans. Stayed tune for more updates on Obama student loans as we are going to run a section dedicated to
new changes.
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Student Loan Tips |
Q: Take Out Student Loans As The Last Resort
When you try to get all types of Financial Aid and you do not receive anything or if the amount of money is not enough try borrowing money by taking out loans.
Q: Use Your Grandparents
Everyone talks about parents, but very rarely do we hear Grandparents. They can take out a Loans and help you store some of the assets.
Q: Apply For Student Loans On the Same Day
We are not sure if this tip is valid, but if you have to apply for more than one student loan (different banks) do it on the same day. This will prevent the second bank to see your first loan on the credit history and it will be easier to get qualified.
View All Tips
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Important Questions |
Q: What is the best student loan?
Difficult question. There is no such thing as the ultimate best loan, because every student has a different requirement. Sometimes the best student loan could be the one you get, if no other
financial aid is provided. Federal student loans carry low interest rates and can be forgiven. Some of them do not need to be repaid while you're in school.
Q: Do Student Loans Cover Off-Campus Housing?
Yes, in general student loans can be used for anything you want related to college. That's why it's a loan. Grants and scholarships on the other hand have to be used for tuition and books only.
Q: Possible to get a student loan without a co-signer?
Most of the federal student loans do not need a co-signer since they are geared towards young students without long credit history. With private loans you will need a co-signer. With peer to peer
loans it will be on case by case basis. Some investors could provide a loan without a co-singer for a higher interest rate.
View All Questions
There are few choices when it comes to federal student loans. Read about each of the four loans and get familiar with their features. Federal loans come with the lowest interest rate
and they known to be the best Student Loans in the world of Financial Aid
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