Student loans backed by the federal government are set to become more expensive this summer, when their interest rate doubles from 3.4 percent to 6.8 percent. The rate hike would affect Stafford student loans, and thousands of students are protesting.Velasco, Schuyler...
FFELP student loans are federally backed student loans originally funded by private lenders. The FFEL Program ended in 2010, but you may still be repaying them.
Federal student loans do not require a co-signer because they are backed by the federal government. In limited cases, like if your parent isdenied a Parent PLUS loanbased on his or her credit history, a co-signer may be an option. If this is the case, it will...
AmeriCorps VISTA, AmeriCorps NCCC, or AmeriCorps State and National programs: Volunteers for these programs can receive up to the maximum Pell Grant award toward repaying qualified student loans (loans backed by the federal government) through the Segal AmeriCorps Education Award.19For the 2023–...
Written by Edited by Reviewed by Updated May 19, 2025 What to know first:Regardless of the student loan type, it's best to start with federal loans. Most don’t require a credit check, and they come with competitive fixed rates and robust borrower protections. You can also pursue private...
How to get a federal student loan Backed by the U.S. government,federal student loansoffer a range of payment plans, borrower protections and competitive interest rates. Because they come with competitive terms and no credit check, it’s best to apply for federal aid before seeking private loa...
Federal student loans are financial aid options backed by the government and designed specifically to help students afford the costs associated with getting a degree. They usually offer lower interest rates than private loans, as well as more flexible repayment terms and even forgiveness plans for th...
Federal Direct LoansGovernment-backed loans with fixed rates.3.73% – 5.28%10-30 years Private LoansOffered by banks and credit unions, varies widely.4% – 12%+5-20 years PLUS LoansFor graduate students and parents, higher limits.6.31%10-30 years ...
While most young adults are likely prime candidates to consolidate their student loans, many are unsure or even intimidated by the process. Below, we will discuss benefits of federal student loan consolidation and private student student loan refinancing. We discuss the pros and cons of consolidation...
Another concern that borrowers should consider is the fact that PNC refinances federal government student loans in addition to private loans. Nearly all lenders refinance federal loans, so this concern is not unique to PNC, but borrowers should carefully consider their options prior to refinancing the...